Personal Accident and Health Insurance in Brazil, Key Trends and Opportunities to 2020

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Published: September 19, 2016 Report Code: GD-IS1287MR-ST

Report Overview
Key Players
Table of Contents
Table
Figures

GlobalData’s 'Personal Accident and Health 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, combined ratio, total assets, total investment income and retentions during the review (2011–2015) and forecast periods (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 GlobalData’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.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Brazil:

• It provides historical values for the 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 segment, and market forecasts to 2020.

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

• It provides an overview of the various distribution channels for personal accident and health insurance products in Brazil.

• It profiles the top personal accident and health insurance companies in Brazil, and outlines the key regulations affecting them.

Key Highlights

• The Brazilian personal accident and health segment grew at a review-period CAGR of 17.6%.

• The expansion of health and travel insurance primarily drove the segment’s growth during the review period.

• Services provided by the public healthcare system are not of a high quality, and many affluent Brazilians are increasingly opting for private health cover.

• Private health insurers which offer policies covering congenital complications are likely to record increased claims due to the Zika outbreak.

• Cost-effective channels, such as direct marketing and channels driven by technology, are expanding quickly.

• Healthcare and dental services, which are not covered by the public healthcare system, are expected to support growth in private health insurance over the forecast period.

Reasons to Buy

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

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

• Assess the competitive dynamics in the 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.

Itaú Seguros SA
Bradesco Vida e Previdência SA
Zurich Santander Brasil Seguros e Previdência SA
Companhia de Seguros Aliança do Brasil
Metropolitan Life Seguros e Previdência

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 Profitability

4.2.4 Assets and investments

5 Outlook by Category

5.1 Personal Accident Insurance

5.1.1 Premium

5.1.2 Claims

5.1.3 Profitability

5.2 Health Insurance

5.2.1 Premium

5.2.2 Claims

5.2.3 Profitability

5.3 Travel Insurance

5.3.1 Premium

5.3.2 Claims

5.3.3 Profitability

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 Itaú Seguros SA – company overview

8.1.2 Bradesco Vida e Previdência SA – company overview

8.1.3 Zurich Santander Brasil Seguros e Previdência SA – company overview

8.1.4 Companhia de Seguros Aliança do Brasil – company overview

8.1.5 Metropolitan Life Seguros e Previdência – 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

10.1.1 Claims and expenses

10.1.2 Assets and investments

10.1.3 Personal accident insurance

10.1.4 Health insurance

10.1.5 Health insurance by product

10.1.6 Travel insurance

11 Definitions and Methodology

11.1 Definitions

11.2 Methodology

12 About GlobalData

12.1 Contact GlobalData

12.2 About GlobalData

12.3 GlobalData’s Services

12.4 Disclaimer

Table

Table 1: Brazilian Personal Accident and Health Insurance – Key Facts, 2014

Table 2: Brazilian Personal Accident and Health 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 Personal Accident and Health Insurance – Gross Written Premium (BRL Billion and US$ Billion), 2011–2015

Table 6: Brazilian Personal Accident and Health Insurance – Penetration (%), 2011–2015

Table 7: Brazilian Personal Accident and Health Insurance – Gross Written Premium (BRL Billion and US$ Billion), 2015–2020

Table 8: Brazilian Personal Accident and Health Insurance – Penetration (%), 2015–2020

Table 9: Brazilian Personal Accident and Health Insurance – Premium per Capita (BRL and US$), 2011–2015

Table 10: Brazilian Personal Accident and Health Insurance – Premium per Capita (BRL and US$), 2015–2020

Table 11: Brazilian Personal Accident and Health Insurance – Paid Claims (BRL Billion and US$ Billion), 2011–2015

Table 12: Brazilian Personal Accident and Health Insurance – Paid Claims (BRL Billion and US$ Billion), 2015–2020

Table 13: Brazilian Personal Accident and Health Insurance – Profitability Ratio (%), 2011–2015

Table 14: Brazilian Personal Accident and Health Insurance – Profitability Ratio (%), 2015–2020

Table 15: Brazilian Personal Accident and Health Insurance – Total Assets (BRL Billion and US$ Billion), 2011–2015

Table 16: Brazilian Personal Accident and Health Insurance – Total Assets (BRL Billion and US$ Billion), 2015–2020

Table 17: Brazilian Personal Accident and Health Insurance – Total Investment Income (BRL Million and US$ Million), 2011–2015

Table 18: Brazilian Personal Accident and Health Insurance – Total Investment Income (BRL Million and US$ Million), 2015–2020

Table 19: Brazilian Personal Accident and Health Insurance – Investment Portfolio (BRL Billion), 2011–2015

Table 20: Brazilian Personal Accident and Health Insurance – Investment Portfolio (BRL Billion), 2015–2020

Table 21: Brazilian Personal Accident and Health Insurance – Direct Written Premium by Category (BRL Million), 2011–2015

Table 22: Brazilian Personal Accident and Health Insurance – Direct Written Premium by Category (BRL Billion), 2015–2020

Table 23: Brazilian Personal Accident Insurance – Direct Written Premium (BRL Billion and US$ Billion), 2011–2015

Table 24: Brazilian Personal Accident Insurance – Direct Written Premium (BRL Billion and US$ Billion), 2015–2020

Table 25: Brazilian Personal Accident Insurance – Paid Claims (BRL Million and US$ Million), 2011–2015

Table 26: Brazilian Personal Accident Insurance – Paid Claims (BRL Million and US$ Million), 2015–2020

Table 27: Brazilian Personal Accident Insurance – Loss Ratio (%), 2011–2015

Table 28: Brazilian Personal Accident Insurance – Loss Ratio (%), 2015–2020

Table 29: Brazilian Health Insurance – Direct Written Premium by Sub-Category (BRL Billion), 2011–2015

Table 30: Brazilian Health Insurance – Direct Written Premium by Sub-Category (BRL Billion), 2015–2020

Table 31: Brazilian Health Insurance – Paid Claims (BRL Billion and US$ Billion), 2011–2015

Table 32: Brazilian Health Insurance – Paid Claims (BRL Billion and US$ Billion), 2015–2020

Table 33: Brazilian Health Insurance – Loss Ratio (%), 2011–2015

Table 34: Brazilian Health Insurance – Loss Ratio (%), 2015–2020

Table 35: Brazilian Travel Insurance – Direct Written Premium (BRL Million), 2011–2015

Table 36: Brazilian Travel Insurance – Direct Written Premium (BRL Million), 2015–2020

Table 37: Brazilian Travel Insurance – Paid Claims (BRL Million and US$ Million), 2011–2015

Table 38: Brazilian Travel Insurance – Paid Claims (BRL Million and US$ Million), 2015–2020

Table 39: Brazilian Travel Insurance – Loss Ratio (%), 2011–2015

Table 40: Brazilian Travel Insurance – Loss Ratio (%), 2015–2020

Table 41: Average Annual Loss by Hazard (1990–2015)

Table 42: Brazilian Personal Accident and Health Insurance – Segment Shares of the Leading Insurers (%), 2015

Table 43: Itaú Seguros SA – Key Facts

Table 44: Bradesco Vida e Previdência SA – Key Facts

Table 45: Zurich Santander Brasil Seguros e Previdência SA – Key Facts

Table 46: Companhia de Seguros Aliança do Brasil – Key Facts

Table 47: Metropolitan Life Seguros e Previdência – Key Facts

Table 48: Brazil – Insurance Regulatory Framework Key Features

Table 49: Brazil – Life Insurance Regulatory Framework

Table 50: Brazil – Property Insurance Regulatory Framework

Table 51: Brazil – Motor Insurance Regulatory Framework

Table 52: Brazil – Liability Insurance Regulatory Framework

Table 53: Brazil – Compensation Provided by the Insurer in the Event of an Accident

Table 54: Brazil – Compensation Provided by the Insurer in the Event of an Accident

Table 55: Brazil – Ratings Required For Registration Of Reinsurance Business

Table 56: Brazil – Ratings Required For Registration Of Occasional Business

Table 57: Brazil – Base Capital – Variable Component by Region

Table 58: Brazil – Risks Correlation Factor

Table 59: Brazil – Corporate Tax Rates for the Financial Year 2016

Table 60: Brazilian Personal Accident and Health Insurance Industry – Policies and Premium, 2011–2015

Table 61: Brazilian Personal Accident and Health Insurance Industry – Policies and Premium, 2015–2020

Table 62: Brazilian Personal Accident and Health Insurance – Claims and Expenses, 2011–2015

Table 63: Brazilian Personal Accident and Health Insurance – Claims and Expenses, 2015–2020

Table 64: Brazilian Personal Accident and Health Insurance – Assets and Investments, 2011–2015

Table 65: Brazilian Personal Accident and Health Insurance – Assets and Investments, 2015–2020

Table 66: Brazilian Personal Accident and Health Insurance – Personal Accident Insurance, 2011–2015

Table 67: Brazilian Personal Accident and Health Insurance – Personal Accident Insurance, 2015–2020

Table 68: Brazilian Personal Accident and Health Insurance – Health Insurance, 2011–2015

Table 69: Brazilian Personal Accident and Health Insurance – Health Insurance, 2015–2020

Table 70: Brazilian Personal Accident and Health Insurance – Health by Product, 2011–2015

Table 71: Brazilian Personal Accident and Health Insurance – Health by Product, 2015–2020

Table 72: Brazilian Personal Accident and Health Insurance – Travel Insurance, 2011–2015

Table 73: Brazilian Personal Accident and Health Insurance – Travel Insurance, 2015–2020

Table 74: Insurance Industry Definitions

Figures

Figure 1: Brazilian Real GDP (INR Trillion), 2011–2020

Figure 2: Brazilian Consumer Price Inflation (%), 2011–2020

Figure 3: Brazilian Current Account Balance as Percentage of GDP (%), 2011–2020

Figure 4: INR–US$ Exchange Rate, 2011–2020

Figure 5: Brazilian Unemployment Rate (%), 2011–2020

Figure 6: Brazilian Population by Age Group, 1991–2025

Figure 7: Brazilian Personal Accident Insurance – Number of Road Accidents, 2011–2015

Figure 8: Brazilian Personal Accident Insurance – Fatalities in Road Accidents, 2011–2015

Figure 9: Brazilian Personal Accident Insurance – Road Accidents by State – 2015

Figure 10: Brazilian Personal Accident and Health Insurance Penetration – Regional Comparison (%), 2015

Figure 11: Brazilian Insurance Industry Direct Written Premium Shares – Regional Comparison (%), 2015

Figure 12: Brazilian Personal Accident and Health Insurance – Gross Written Premium (INR Billion), 2011–2020

Figure 13: Brazilian Personal Accident and Health Insurance – Penetration (%), 2011–2020

Figure 14: Brazilian Personal Accident and Health Insurance – Premium per Capita (INR), 2011–2020

Figure 15: Brazilian Personal Accident and Health Insurance – Number of Policies Sold (Million), 2011–2020

Figure 16: Brazilian Personal Accident and Health Insurance – Paid Claims (INR Billion), 2011–2020

Figure 17: Brazilian Personal Accident and Health Insurance – Profitability Ratio (%), 2011–2020

Figure 18: Brazilian Personal Accident and Health Insurance – Total Assets (INR Billion), 2011–2020

Figure 19: Brazilian Personal Accident and Health Insurance – Total Investment Income (INR Billion), 2011–2020

Figure 20: Brazilian Personal Accident and Health Insurance – Investment Portfolio (INR Billion), 2011–2020

Figure 21: Brazilian Personal Accident and Health Insurance – Investment Portfolio Dynamics by Category, 2011–2020

Figure 22: Brazilian Personal Accident and Health Insurance – Direct Written Premium by Category (INR Billion), 2011–2020

Figure 23: Brazilian Personal Accident and Health Insurance – Direct Written Premium Dynamics by Category, 2011–2020

Figure 24: Brazilian Personal Accident Insurance – Direct Written Premium (INR Billion), 2011–2020

Figure 25: Brazilian Personal Accident Insurance – Number of Policies Sold (Million), 2011–2020

Figure 26: Brazilian Personal Accident Insurance – Paid Claims (INR Billion), 2011–2020

Figure 27: Brazilian Personal Accident Insurance – Earned Premium, Incurred Loss and Loss Ratio (INR Billion and %), 2011–2020

Figure 28: Brazilian Health Insurance – Direct Written Premium (INR Billion), 2011–2020

Figure 29: Brazilian Health Insurance – Number of Policies Sold by Sub-Category (Million), 2011–2020

Figure 30: Brazilian Health Insurance – Paid Claims (INR Billion), 2011–2020

Figure 31: Brazilian Health Insurance – Earned Premium, Incurred Loss and Loss Ratio (INR Billion and %), 2011–2020

Figure 32: Brazilian Travel Insurance – Direct Written Premium (INR Million), 2011–2020

Figure 33: Brazilian Travel Insurance – Number of Policies Sold (Thousand), 2011–2020

Figure 34: Brazilian Travel Insurance – Paid Claims (INR Billion), 2011–2020

Figure 35: Brazilian Travel Insurance – Earned Premium, Incurred Loss and Loss Ratio (INR Billion and %), 2011–2020

Figure 36: Brazilian Personal Accident and Health Insurance – Direct Written Premium by Distribution Channel (%), 2011, 2015 and 2020

Figure 37: Brazilian Personal Accident and Health Insurance – Segment Shares of Leading Insurers (%), 2015

Figure 38: Brazil – Insurance Supervision and Control at Various Levels

Figure 39: Brazil – Insurance Regulatory Frameworks for Company Registration and Operation

Figure 40: Brazil – Judiciary System

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