Life Insurance in Brazil, Key Trends and Opportunities to 2020

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Date: 23-Sep-2016
No. of pages: 121
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Synopsis

Timetric's 'Life Insurance in Brazil Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Brazilian life insurance segment, and a comparison of the Brazilian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Brazilian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric's 'Life Insurance in Brazil Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Brazilian life insurance segment, including:


  • An overview of the Brazilian life insurance segment

  • The Brazilian life insurance segment's growth prospects by category

  • A comprehensive overview of the Brazilian economy and demographics

  • A comparison of the Brazilian life insurance segment with its regional counterparts

  • Overview of various distribution channels in the Brazilian life insurance segment

  • Details of the competitive landscape in the life insurance segment in Brazil

  • Details of regulatory policy applicable to the Brazilian insurance industry


Scope

This report provides a comprehensive analysis of the life insurance segment in Brazil:


  • It provides historical values for the Brazilian life insurance segment for the report's 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

  • It offers a detailed analysis of the key categories in the Brazilian life insurance segment, and market forecasts to 2020.

  • It provides a comparison of the Brazilian life insurance segment with its regional counterparts

  • It analyzes the various distribution channels for life insurance products in Brazil.

  • It profiles the top life insurance companies in Brazil and outlines the key regulations affecting them.


Reasons To Buy


  • Make strategic business decisions using in-depth historic and forecast market data related to the Brazilian life insurance segment, and each category within it.

  • Understand the demand-side dynamics, key market trends and growth opportunities in the Brazilian life insurance segment.

  • Assess the competitive dynamics in the life insurance segment.

  • Identify growth opportunities and market dynamics in key product categories.

  • Gain insights into key regulations governing the Brazilian insurance industry, and their impact on companies and the industry's future.


Key Highlights


  • The Brazilian life insurance segment accounted for 57.5% of the industry's gross written premium in 2015.

  • The segment grew at a review-period CAGR of 14.0%, primarily contributed by the expansion of the pension category.

  • Brazilian bank branch networks enable insurers to market products to a large customer base.

  • In September 2015, under the Solvency II framework, the EC granted provisional equivalence to Brazil's solvency regime.

  • The rise in the middle-class population and its purchasing power will drive demand for life insurance over the forecast period.

Life Insurance in Brazil, Key Trends and Opportunities to 2020

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Assets and investments

5 Outlook by Sub-Segment
5.1 Individual Life Insurance
5.1.1 Premium
5.1.2 Penetration
5.2 Group Life Insurance
5.2.1 Premium
5.2.2 Penetration

6 Distribution Channel Outlook

7 Natural and Man-Made Hazards
7.1 Flooding
7.2 Droughts
7.3 Landslides
7.4 Storms
7.5 Epidemics
7.6 Man-Made Disasters
7.7 Exposure

8 Competitive Landscape
8.1 Company Profiles
8.1.1 Companhia de Seguros Aliança do Brazil - company overview
8.1.2 Bradesco Vida e Previdência SA - company overview
8.1.3 Zurich Santander Brazil Seguros e Previdência SA - company overview
8.1.4 Itaú Seguros SA - company overview
8.1.5 Caixa Seguradora SA - company overview

9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life Insurance
9.3.2 Property Insurance
9.3.3 Motor Insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Insurance for personal injury caused by ships or cargos
9.4.3 Social security scheme
9.4.4 Domestic credit insurance
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 Association of Insurance Supervisors Latin America
9.5.3 National Private Insurance Council
9.5.4 Superintendent of Private Insurance
9.5.5 National Confederation of General Insurance, Private Pension and Life, Supplementary Health and Capitalization Companies
9.5.6 National Federation of General Insurance
9.5.7 National Federation of Open Private Pension and Life
9.5.8 National Federation of Supplementary Health
9.5.9 National Federation of Capitalization
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margin
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxations
9.8.2 Withholding taxes on premium paid overseas.
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)

10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Individual Life Insurance
10.5 Individual Life Insurance by Product
10.6 Group Life Insurance
10.7 Group Life Insurance by Product

11 Definitions and Methodology
11.1 Definitions
11.2 Methodology

12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's services
12.4 Disclaimer

List of Tables

Table 1: Brazilian Life Insurance - Key Facts, 2015
Table 2: Brazilian Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: BRICS Region - Real GDP (US$ Billion), 2015
Table 4: Brazilian Government Credit Ratings
Table 5: Brazilian Life Insurance - Gross Written Premium (BRL Billion and US$ Billion), 2011-2015
Table 6: Brazilian Life Insurance - Penetration (%), 2011-2015
Table 7: Brazilian Life Insurance - Gross Written Premium (BRL Billion and US$ Billion), 2015-2020
Table 8: Brazilian Life Insurance - Penetration (%), 2015-2020
Table 9: Brazilian Life Insurance - Premium per Capita (BRL and US$), 2011-2015
Table 10: Brazilian Life Insurance - Premium per Capita (BRL and US$), 2015-2020
Table 11: Brazilian Life Insurance - Paid Claims (BRL Billion and US$ Billion), 2011-2015
Table 12: Brazilian Life Insurance - Paid Claims (BRL Billion and US$ Billion), 2015-2020
Table 13: Brazilian Life Insurance - Total Assets (BRL Billion and US$ Billion), 2011-2015
Table 14: Brazilian Life Insurance - Total Assets (BRL Billion and US$ Billion), 2015-2020
Table 15: Brazilian Life Insurance - Total Investment Income (BRL Billion and US$ Billion), 2011-2015
Table 16: Brazilian Life Insurance - Total Investment Income (BRL Billion and US$ Billion), 2015-2020
Table 17: Brazilian Life Insurance - Investment Portfolio (BRL Billion), 2011-2015
Table 18: Brazilian Life Insurance - Investment Portfolio (BRL Billion), 2015-2020
Table 19: Brazilian Life Insurance - Direct Written Premium by Sub-Segment (BRL Billion),2011-2015
Table 20: Brazilian Life Insurance - Direct Written Premium by Sub-Segment (BRL Billion), 2015-2020
Table 21: Brazilian Individual Life Insurance - Direct Written Premium by Category (BRL Million), 2011-2015
Table 22: Brazilian Individual Life Insurance - Direct Written Premium by Category (BRL Billion), 2015-2020
Table 23: Brazilian Group Life Insurance - Direct Written Premium by Category (BRL Billion), 2011-2015
Table 24: Brazilian Group Life Insurance - Direct Written Premium by Category (BRL Billion), 2015-2020
Table 25: Average Annual Loss by Hazard (1990-2015)
Table 26: Brazilian Insurance Industry - Market Shares of Leading Insurers (%), 2015
Table 27: Companhia de Seguros Aliança do Brazil - Key Facts
Table 28: Companhia de Seguros Aliança do Brazil - Key Financials (BRL Million), 2011-2015
Table 29: Bradesco Vida e Previdência SA - Key Facts
Table 30: Bradesco Vida e Previdência SA - Key Financials (BRL Million), 2011-2015
Table 31: Zurich Santander Brazil Seguros e Previdência SA - Key Facts
Table 32: Zurich Santander Brazil Seguros e Previdência SA - Key Financials (BRL Million), 2011-2015
Table 33: Itaú Seguros SA - Key Facts
Table 34: Itaú Seguros SA - Key Financials (BRL Million), 2011-2015
Table 35: Caixa Seguradora SA - Key Facts
Table 36: Caixa Seguradora SA - Key Financials (BRL Million), 2011-2015
Table 37: Brazil - Insurance Regulatory Framework Key Features
Table 38: Brazil - Life Insurance Regulatory Framework
Table 39: Brazil - Property Insurance Regulatory Framework
Table 40: Brazil - Motor Insurance Regulatory Framework
Table 41: Brazil - Liability Insurance Regulatory Framework
Table 42: Brazil - Compensation Provided by the Insurer in the Event of an Accident
Table 43: Brazil - Compensation Provided by the Insurer in the Event of an Accident
Table 44: Brazil - Ratings Required For Registration Of Reinsurance Business
Table 45: Brazil - Ratings Required For Registration Of Occasional Business
Table 46: Brazil - Base Capital - Variable Component by Region
Table 47: Brazil - Risks Correlation Factor
Table48: Brazil - Corporate Tax Rates for the Financial Year 2016
Table 49: Brazilian Life Insurance - Policies and Premium, 2011-2015
Table 50: Brazilian Life Insurance - Policies and Premium, 2015-2020
Table 51: Brazilian Life Insurance - Claims and Expenses, 2011-2015
Table 52: Brazilian Life Insurance - Claims and Expenses, 2015-2020
Table 53: Brazilian Life Insurance - Assets and Investments, 2011-2015
Table 54: Brazilian Life Insurance - Assets and Investments, 2015-2020
Table 55: Brazilian Life Insurance - Individual Life Insurance, 2011-2015
Table 56: Brazilian Life Insurance - Individual Life Insurance, 2015-2020
Table 57: Brazilian Life Insurance - Individual Life Insurance by Product, 2011-2015
Table 58: Brazilian Life Insurance - Individual Life Insurance by Product, 2015-2020
Table 59: Brazilian Life Insurance - Group Life Insurance, 2011-2015
Table 60: Brazilian Life Insurance - Group Life Insurance, 2015-2020
Table 61: Brazilian Life Insurance - Group Life Insurance by Product, 2011-2015
Table 62: Brazilian Life Insurance - Group Life Insurance by Product, 2015-2020
Table 63: Insurance Industry Definitions

List of Figures

Figure 1: Brazilian Real GDP (BRL Billion), 2011-2020
Figure 2: BRL-US$ Exchange Rate, 2011-2020
Figure 3: Brazilian Consumer Price Inflation (%), 2011-2020
Figure 4: Brazilian Current Account Balance as Percentage of GDP (%), 2011-2020
Figure 5: Brazilian Unemployment Rate, 2011-2020
Figure 6: Brazilian Population by Age Group, 1990-2025
Figure 7: Brazilian Life Insurance Penetration - Regional Comparison (%), 2015
Figure 8: Brazilian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 9: Brazilian Life Insurance - Gross Written Premium (BRL Billion), 2011-2020
Figure 10: Brazilian Life Insurance - Penetration (%), 2011-2020
Figure 11: Brazilian Life Insurance - Premium per Capita (BRL), 2011-2020
Figure 12: Brazilian Life Insurance - Paid Claims (BRL Billion), 2011-2020
Figure 13: Brazilian Life Insurance - Total Assets (BRL Billion), 2011-2020
Figure 14: Brazilian Life Insurance - Total Investment Income (BRL Billion), 2011-2020
Figure 15: Brazilian Life Insurance - Investment Portfolio (BRL Billion), 2011-2020
Figure 16: Brazilian Life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 17: Brazilian Life Insurance - Direct Written Premium by Sub-Segment (BRL Billion), 2011-2020
Figure 18: Brazilian Life Insurance - Direct Written Premium Share by Sub-Segment, 2011-2020
Figure 19: Brazilian Life Insurance - Direct Written Premium Dynamics by Sub-Segment, 2011-2020
Figure 20: Brazilian Individual Life Insurance - Direct Written Premium by Category (BRL Billion), 2011-2020
Figure 21: Brazilian Individual Life Insurance - Direct Written Premium Share by Category, 2011-2020
Figure 22: Brazilian Individual Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 23: Brazilian Individual Life Insurance - Penetration (%), 2011-2015
Figure 24: Brazilian Individual Life Insurance - Penetration (%), 2015-2020
Figure 25: Brazilian Group Life Insurance - Direct Written Premium by Category (BRL Billion), 2011-2020
Figure 26: Brazilian Group Life Insurance - Direct Written Premium Share by Category (BRL Billion), 2011-2020
Figure 27: Brazilian Group Life Insurance - Direct Written Premium Dynamics by Category (BRL Billion), 2011-2020
Figure 28: Brazilian Group Life Insurance - Penetration (%), 2011-2015
Figure 29: Brazilian Group Life Insurance - Penetration (%), 2015-2020
Figure 30: Brazilian - Frequency of Hazards by Type, 1990-2014
Figure 31: Brazilian Mortality by Hazards Type, 1990-2014
Figure 32: Brazilian Economic Loss by Hazards Type, 1990-2014
Figure 33: Brazilian Insurance Industry - Market Shares of Leading Insurers (%), 2015
Figure 34: Brazil - Insurance Supervision and Control at Various Levels
Figure 35: Brazil - Insurance Regulatory Frameworks for Company Registration and Operation

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