Back to reports
0
0

Governance, Risk and Compliance – The Brazilian Insurance Industry

Pages: 101 Published: June 29, 2018 Report Code: IS0052RR

Add to Wishlist
Select Item

GlobalData’s Governance, Risk and Compliance – The Brazilian Insurance Industry report is the result of extensive research into the insurance regulatory framework in Brazil.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

Scope

• The report covers details of the insurance regulatory framework in Brazil.

• The report contains details of the rules and regulations governing insurance products and insurance entities.

• The report lists and analyzes key trends and developments pertaining to the country’s insurance regulatory framework.

• The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.

• The report provides details of taxation imposed on insurance products and insurance companies.

Key Highlights

• Susep governs insurance industry in Brazil.

• Non-admitted insurance is not permitted in Brazil. However, there are a few exceptions.

• The state reinsurer, Brasil Resseguros SA, was privatized in September 2013.

• The FDI regime of Brazil allows up to 100% foreign ownership in domestic insurance companies.

• Key classes of compulsory insurances include motor third-party liability, worker’s compensation, and domestic credit insurance.

Reasons to Buy

• Gain insights into the insurance regulatory framework in Brazil.

• Track the latest regulatory changes, and expected changes impacting the Brazilian insurance industry.

• Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.

• Understand key regulations and market practices pertaining to various types of insurance product.

Key Players

–

Table of Contents

1 INTRODUCTION

1.1 What is this Report About?

1.2 Definitions

2 GOVERNANCE, RISK AND COMPLIANCE

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 Insurance for personal injury caused by ships or cargos

2.4.3 Social security insurance

2.4.4 Domestic credit insurance

2.4.5 Professional indemnity insurance for reinsurance brokers

2.4.6 Civil liability insurance for passenger and cargo carriers travelling between French Guiana and Brazil

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 taxations

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

3 APPENDIX

3.1 Methodology

3.2 Contact GlobalData

3.3 About GlobalData

3.4 GlobalData’s Services

3.5 Disclaimer

List of Tables

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 2018

Table 9: Brazil – Percentage Component for Premium rates for DPVAT 2018

Table 10: Brazil – Compensation Provided by the Insurer in the Event of an Accident

Table 11: Brazil – Premium Rates for DPEM

Table 12: Brazil – Minimum Ratings for Non-Admitted Reinsurers

Table 13: Brazil – Ratings Required For Registration Of Reinsurance Business

Table 14: Brazil – Ratings Required For Registration Of Occasional Business

Table 15: Brazil – Percentage Concentration of Reinsurance or Retrocession Business

Table 16: Brazil – Reserve Requirement

Table 17: Brazil – Base Capital – Variable Component by Region

Table 18: Brazil – Base Capital of Capitalization Companies – Variable Component by Region

Table 19: Brazil – Risks Correlation Factor

Table 20: Brazil – Corporate Tax Rates for the Financial Year 2018

List of Figures

Figure 1: Brazil – Insurance Supervision and Control at Various Levels

Figure 2: Brazil – Insurance Regulatory Frameworks for Company Registration and Operation

Buy Now

Add to Basket
$950

Can be used by individual purchaser only

Most Popular
$1,900

Can be shared by unlimited users within one corporate location e.g. a regional office

$2,850

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Get in touch to find out about our multi-purchase discounts

reportstore@globaldata.com
Tel +44 (0) 20 7947 2960

Every customer’s requirement is unique. We understand that and can customize the report basis your exact research requirements pertaining to market insights, innovation insights, strategy and planning, and competitive intelligence. You can also avail the option of purchasing stand-alone sections of the report or request for a country specific report.

Still undecided about purchasing this report?

Enquire Before Buying

Request a Free Sample

Testimonial

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Related reports

View more Financial Services reports
Financial Services
New
Cloud Computing in Banking - Thematic Intelligence
$1,950 | March 2023
Financial Services
New
JI Accident & Fire Insurance Company Limited in Japan
$0 | March 2023
Financial Services
New
Gig Economy in Insurance - Thematic Intelligence
$1,950 | March 2023