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Brazil Insurance Report Q4 2015

Brazil Insurance Report Q4 2015

BMI View: With the possible exception of some health insurers, most of the players in Brazil's dynamic andinnovative insurance sector can look forward to real growth in premiums, and/or higher profits, over thecourse of 2015. The growth is being driven by higher prices, which are disguised by inflation, and demandfor insurance from first-time users. Over the medium term, first-time users and product innovation shouldunderpin the development of the non-life segment, while the various life insurance offerings should continueto develop as important conduits for organised savings in Brazil. Currency movements will suppress thedevelopment of premiums in USD terms in 2015 and the earlier years of the forecast period, but boostgrowth later on.

Brazil's well-publicised macroeconomic problems and weak currency mask the fact that the country remainshome to one of the world's faster growing markets for insurance. In 2015, the likely softness in the BRLwill cause sharp falls in premiums written in both the life and the non-life segment in USD terms. However,the latest data from BB Seguridade, one of the leading players in most broad areas, indicated that both thelife and the non-life segments grew in Q115 relative to the previous corresponding period. Particular subsectorshave been expanding very quickly. Private pensions contributions in Q115 were 42% higher thanthey had been in Q114. Mortgage life insurance premiums were up 23%. Motor and property premiumswere up 7%. Even allowing for consumer price inflation of 7-8% over the last year or so, most of the sectoris growing in real terms. Exceptions include rural insurance premiums, which were down by 14%, andcontributions to Capitalização savings bonds, which were down 2% in Q115. We are also looking forsoftness in health insurance premiums.

BMI Industry View
Operational Risk
Industry Forecast
Life Premiums Forecast
Table: Gross Life Premiums Written (Brazil 2012-2019)
Table: Net Life Premiums Written (Brazil 2012-2019)
Table: Reinsurance Life Premiums Written (Brazil 2012-2019)
Life Insurance Claims
Table: Life Insurance Claims (Brazil 2007-2014)
Key Life Drivers
Table: Life Expectancy by Gender (Brazil 2012-2019)
Table: Demographic Breakdown (Brazil 2012-2019)
Non-Life Premiums Forecast
Non-Life Premiums
Table: Gross Non-Life Premiums Written (Brazil 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (Brazil 2007-2014)
Table: Non-Life Insurance Claims by Line (Brazil 2007-2014)
Non-Life Subsectors Forecast
Table: Non-Life % Breakdown (Brazil 2012-2019)
Motor and Transport Insurance
Table: Motor Vehicle Insurance (Brazil 2012-2019)
Table: Insurance Key Drivers, Autos (Brazil 2012-2019)
Table: Transport Insurance (Brazil 2012-2019)
Table: Insurance Key Drivers, Freight Tonnage (Brazil 2012-2019)
Property Insurance
Table: Property Insurance (Brazil 2012-2019)
Health Insurance
Table: Health Insurance (Brazil 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (Brazil 2012-2019)
Personal Accident Insurance
Table: Personal Accident Insurance (Brazil 2012-2019)
General Liability Insurance
Table: General Liability Insurance (Brazil 2012-2019)
Credit/Financial Guarantee Insurance
Table: Credit/Financial Guarantee Insurance (Brazil 2012-2019)
Industry Risk Reward Ratings
Latin America Insurance Risk/Reward Index
Table: Latin America and the Caribbean Insurance Risk/Reward Index
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
Table: Life Insurance Market (USDmn) 2006-2011
Non-Life Market Overview
The Product Offering
The Competitive Landscape
Company Profile
Bradesco Seguros
BB Seguridade Participações SA
Itaú Seguros
Porto Seguro
Demographic Forecast
Table: Population Headline Indicators (Brazil 1990-2025)
Table: Key Population Ratios (Brazil 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Brazil 1990-2025)
Table: Population By Age Group (Brazil 1990-2025)
Table: Population By Age Group % (Brazil 1990-2025)
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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