Brazil Insurance Sector Report 2025 2nd Quarter

The Brazilian insurance sector recorded a solid yet moderating expansion in Q1 2025, with sector-wide disbursements reaching BRL 131.7bn, an +11.4% y/y increase driven by higher indemnities, benefits, redemptions and healthcare-related expenditures. Excluding supplementary health, total payouts rose to BRL 66.8bn (+17.3% y/y), with open private pension plans acting as the primary outlier, accounting for BRL 38.8bn and growing by 26.5% y/y, representing 58.1% of all non-health sector disbursements. On the revenue side, total collected premiums and contributions amounted to BRL 188.8bn, expanding by 5.9% y/y, while excluding health insurance the sector generated BRL 105.1bn, reflecting a modest 2.1% y/y advance. Despite the overall sector expansion, pension contributions fell 4.7% y/y, decreasing from BRL 46.5bn in Q1 2024 to BRL 44.3bn in Q1 2025, signalling more cautious household savings behaviour against a backdrop of elevated uncertainty and volatile financial markets. The investment environment also reflected this shift, with net redemptions of BRL 39.8bn in investment funds, weaker capital rotation into variable income classes, and significantly softer fixed-income net inflows of BRL 43.2bn compared with BRL 134.4bn in Q1 2024, as reported by the National Confederation of General Insurance Companies, Private Pensions, Life, Supplementary Health, and Capitalisation (CNseg) in June 2025.

This report provides a complete and detailed analysis of the "Banking and 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 "Banking and 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