Brazil Insurance Sector Quarterly Report 2023 Q2

In Q1 2023, total insurance premium incomes in Brazil saw an increase of 11.2% y/y to BRL 157.6bn. This rise was explained by the recovery of the economy, as GDP rose by 4% y/y in the quarter. Life insurance premium income went up by 6.7% y/y to BRL 61.1bn during Q1 2023, while non-life insurance premium income amounted to BRL 96.5bn in Q1 2023, a 14.2% y/y increase. The main factor behind this rise was the performance of property and casualty insurance products, where premium income increased by 18.1% y/y to BRL 29.4bn. Within the property and casualty category, automotive (+21.2% y/y) and agricultural (+20.5% y/y) premiums had the strongest performance as car owners and agricultural producers looked for protection against accidents and adverse weather conditions, respectively. Supplementary health insurance premium income increased by 11.2% y/y to BRL 67bn in Q1 2023, as people are getting more concerned about health post-pandemic.

This report provides a complete and detailed analysis of the "Insurance" sector for Brazil. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the "Insurance" sector in Brazil
• Crystallise the forces both driving and restraining this sector in Brazil
• Ascertain Brazil’s position in the global sector
• Build a complete perspective on sector trade, investment and employment
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in Brazil.
• Build a clear picture of trends, output and consumption for specific sub-sectors