Life Insurance in Brazil, Key Trends and Opportunities to 2018

Date: 2015-09

The Brazilian life segment is the largest in the industry, accounting for around 53% of its gross written premium in 2013. The segment grew at a CAGR of 20.6% during the review period, driven by economic development, a rise in disposable incomes and tax incentives. The gross written premium registered by the segment will continue to grow, primarily due to the segmentโ€™s low penetration rate of 2% in 2012 and aided by increasing confidence and family incomes. Growth over the forecast period will also be driven by the bancassurance channel, as Brazilian banks have extensive branch networks, and with banking being the first point of contact for those who are newly accessing financial services.

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