New Financial Services research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 10/03/2014 -- Looking ahead to 2015 and beyond, Brazil's insurance sector should post steady growth in total written premiums, in part driven by greater macroeconomic stability. In the short-term, forecasts in terms of US dollars will be somewhat constrained by continuing currency fluctuations.
We anticipate steady growth for many of Brazil's insurers, who have shown remarkable resilience in the face of continuing political and macroeconomic instability. Both segments are benefiting from recent economic expansion, which in turn has increased the demand for premiums. Despite a positive long-term outlook, the regulator and insurers alike will have to look at more innovative solutions to the issue of low penetration levels. Without such measures the sector will struggle to achieve optimal growth levels. Sales have been particularly high in VGBL, PGBL and (especially) Capitalizacao savings bonds over the last year. The insurance companies are innovative in terms of product development and dynamic in terms of distribution strategies. This is at a time that the vast majority of them are able to leverage benefits of scale, brand and association with major financial institutions. We believe this should give the wider sector a solid platform for sustained growth over the forecast period.
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With the bulk of the non-life segment's growth coming from wider economic expansion, and a subsequent growth in the volume of policies, the sub-sector breakdown should remain relatively constant. Health lines should remain the dominant sub-sector, given the continuing enlargement of Brazil's middle class along with long-term challenges to the country's public healthcare service.
The life segment should continue to represent an opportunity for growth over the forecast period. Macroeconomic stability is increasing the number of households that are able to save. More of these people are making use of life insurance solutions as a conduit for these savings. In art this trend has been boosted...
The Brazil Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.
BMI's Brazil Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Brazilian insurance industry.
- Benchmark BMI's independent insurance industry forecasts for Brazil to test other views - a key input for successful budgeting and strategic business planning in Brazil's insurance market.
- Target business opportunities and risks in Brazil through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
- Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
BMI Industry View:
Summary of BMI's key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.
Industry SWOT Analysis:
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the insurance sector and within the broader political, economic and business environment.
Individual analysis of both Life and Non-Life insurance sector developments and prospects across developed states and emerging markets - supported by BMI's global industry growth forecasts. This is followed by an in-depth evaluation of region- and country-specific trends, focusing on BMI's country-by-country market growth data.
Business Environment Rankings:
BMI's Insurance Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (Life and Non-Life) in the insurance market.
The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.
BMI Industry Forecasts:
Historic data series (2008-2012) and forecasts to end-2018 for key industry and economic indicators (see list below) supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:
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