Governance, Risk and Compliance - The Brazilian Insurance Industry

1.1 What is this Report About?
1.2 Definitions

2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulation
2.3 Legislation and Market Practice by Type of Insurance
2.3.1 Life insurance
2.3.2 Property insurance
2.3.3 Motor insurance
2.3.4 Liability insurance
2.3.5 Marine, aviation and transit insurance
2.3.6 Personal accident and health insurance
2.3.7 Reinsurance
2.4 Compulsory Insurance
2.4.1 Motor third-party liability insurance
2.4.2 Social security insurance
2.4.3 Domestic credit insurance
2.4.4 Professional indemnity insurance for reinsurance brokers
2.4.5 Civil liability insurance for passenger and cargo carriers travelling between French Guiana and Brazil
2.4.6 Judicial guarantee insurance for labor disputes
2.4.7 Compulsory condominium insurance
2.4.8 Compulsory insurance for drivers and passengers of ride hailing
2.5 Supervision and Control
2.5.1 International Association of Insurance Supervisors
2.5.2 Association of Insurance Supervisors Latin America
2.5.3 National Private Insurance Council
2.5.4 Superintendent of Private Insurance
2.5.5 National Confederation of General Insurance, Private Pension and Life, Supplementary Health and Capitalization Companies
2.5.6 National Federation of General Insurance
2.5.7 National Federation of Open Private Pension and Life
2.5.8 National Federation of Supplementary Health
2.5.9 National Federation of Capitalization
2.5.10 The National Regulatory Agency for Private Health Insurance and Plans
2.6 Non-Admitted Insurance Regulations
2.6.1 Overview
2.6.2 Intermediaries
2.6.3 Market practices
2.6.4 Fines and penalties
2.7 Company Registration and Operations
2.7.1 Type of insurance organization
2.7.2 Establishing a local company
2.7.3 Foreign ownership
2.7.4 Types of license
2.7.5 Capital requirements
2.7.6 Solvency margin
2.7.7 Reserve requirements
2.7.8 Investment regulations
2.7.9 Statutory return requirements
2.7.10 Fee structure
2.8 Taxation
2.8.1 Insurance premium or policy taxation
2.8.2 Withholding taxes on premium paid overseas
2.8.3 Corporate tax
2.8.4 VAT
2.8.5 Captives
2.9 Legal System
2.9.1 Introduction
2.9.2 Access to court
2.9.3 Alternative dispute resolution (ADR)

3.1 Methodology
3.2 Contact Us
3.3 About the Author
3.4 Author's Services
3.5 Disclaimer

Table 1: Insurance Industry Definitions
Table 2: Brazil - Insurance Regulatory Framework Key Features
Table 3: Brazil - Life Insurance Regulatory Framework
Table 4: Brazil - Property Insurance Regulatory Framework
Table 5: Brazil - Motor Insurance Regulatory Framework
Table 6: Brazil - Liability Insurance Regulatory Framework
Table 7: Brazil - Compensation Provided by the Insurer in the Event of an Accident
Table 8: Brazil - Premium Rates for DPVAT 2020
Table 9: Brazil - Percentage Component for Premium rates for DPVAT 2018
Table 10: Brazil - Minimum Credit Rating Requirement for Foreign Reinsurers
Table 11: Brazil - Rating Requirement for a Non-admitted Reinsurer
Table 12: Brazil - Ratings Required For Registration Of Reinsurance Business
Table 13: Brazil - Ratings Required For Registration Of Occasional Business
Table 14: Brazil - Percentage Concentration of Reinsurance or Retrocession Business
Table 15: Brazil - Reserve Requirement
Table 16: Brazil - Base Capital - Variable Component by Region
Table 17: Brazil - Base Capital of Capitalization Companies - Variable Component by Region
Table 18: Brazil - Risks Correlation Factor
Table 19: Brazil - Corporate Tax Rates for the Financial Year 2019

Figure 1: Brazil - Insurance Supervision and Control at Various Levels
Figure 2: Brazil - Insurance Regulatory Frameworks for Company Registration and Operation