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Life Insurance in Brazil, Key Trends and Opportunities to 2015
BRICdata, Dec 2011, Pages: 212
The report provides top-level market analysis, information and insights relating to the Brazilian life insurance industry, including:
- The Brazilian life insurance industry’s growth prospects by product category and customer segment
- The various distribution channels in the Brazilian life insurance industry
- The competitive landscape in the life insurance industry
- A description of the life reinsurance market in Brazil
Brazil is the world’s 17th largest insurance market and the largest in the Latin American region. The insurance industry in the country has expanded significantly over the last decade, driven by strong macroeconomic and microeconomic fundamentals, rising consumer awareness of insurance products, a partial relaxation of regulatory restrictions, and liberalization of the industry to allow foreign competition. However, despite this industry expansion, Brazil remains a largely untapped market with 70 percent of the employed population being uninsured. Low insurance penetration, with total life, pension and property and accident insurance premiums representing three percent of the country’s GDP, is an opportunity for insurance companies to explore.
This report provides a comprehensive analysis of the life insurance market in Brazil:
- It provides historical values for the Brazilian life insurance industry for the report's 2006–2010 review period and forecast figures for the 2011–2015 forecast period
- It offers a detailed analysis of the key sub-segments in the Brazilian life insurance industry, along with market forecasts until 2015
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for life insurance products in Brazil
- Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Brazil for the life insurance business
- It provides a detailed analysis of the reinsurance market in Brazil and its growth prospects
- It profiles the top life insurance companies in Brazil, and outlines the key regulations affecting them
Reasons To Buy
- Make strategic business decisions using top-level historic and forecast market data related to the Brazilian life insurance industry and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Brazilian life insurance industry
- Assess the competitive dynamics in the life insurance industry, along with the reinsurance segment
- Identify the growth opportunities and industry dynamics within key product categories
- Gain insights into key regulations governing the Brazilian insurance industry and its impact on companies and the industry's future
Key Highlights
- The size of Brazil’s life insurance market is expected to increase from BRL61.3 billion (USD35.0 billion) in 2011 to BRL98.8 billion (USD56.4 billion) in 2015, at a CAGR of 12.3 percent.
- The growth of the Brazilian life insurance market will be driven by the significant increase in sales of deferred annuity products for individuals, also known as Vida Gerador de Benefícios Livres (VGBL)
- Bancassurance will drive growth in the industry as more of the population gains access to formal banking channels.
- In 2010, the individual pension was the largest segment and accounted for 79.7% of the total Brazilian life insurance industry
- The regulatory environment is expected to become more restrictive following new proposals by the Superintendência de Seguros Privados (SUSEP, the Superintendence of Private Insurance).
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