The Brazilian insurance market has demonstrated notable changes in the ranking of companies based on the volume of premiums at the end of the first quarter of 2024, excluding VGBL products. Porto Seguro holds the leading position with a growth of 11.41%, achieving a market share of 8.0% compared to 7.9% in the same period of 2023. BB Seguros follows closely in the second position, experiencing a significant increase of 16.43%, bringing its market share to 7.9%, up from 7.4% in the previous year.
Tokio Marine Seguradora ranks third, with a growth of 6.53%. However, its market share slightly decreased to 6.5% from 6.7% in the first quarter of 2023. Bradesco Seguros has shown the most substantial growth among the top five, with a remarkable 20.01% increase, resulting in a market share of 5.9%, up from 5.4% in the previous year. In contrast, MAPFRE experienced a decline of 3.33%, with its market share dropping to 5.2% from 5.9% in the first quarter of 2023.
Tokio Marine Seguradora ranks third, with a growth of 6.53%. However, its market share slightly decreased to 6.5% from 6.7% in the first quarter of 2023. Bradesco Seguros has shown the most substantial growth among the top five, with a remarkable 20.01% increase, resulting in a market share of 5.9%, up from 5.4% in the previous year. In contrast, MAPFRE experienced a decline of 3.33%, with its market share dropping to 5.2% from 5.9% in the first quarter of 2023.
The overall dynamics of the Brazilian insurance market in the first quarter of 2024 highlight the competitive nature of the industry, with significant shifts in market positions and varying growth rates among the leading companies.
DIRECT WRITTEN PREMIUM IN BRAZIL (excluding VGBL) - TOP 10 RANKING
| INSURER | Market Share |
| PORTO SEGURO COMPANHIA DE SEGUROS GERAIS | 8,01% |
| BRASILSEG COMPANHIA DE SEGUROS | 7,88% |
| TOKIO MARINE SEGURADORA S.A. | 6,46% |
| BRADESCO VIDA E PREVIDÊNCIA S.A. | 5,89% |
| MAPFRE SEGUROS GERAIS S.A. | 5,18% |
| ALLIANZ SEGUROS S.A. | 4,34% |
| BRADESCO AUTO/RE COMPANHIA DE SEGUROS | 4,32% |
| LIBERTY SEGUROS S.A. | 3,47% |
| ZURICH SANTANDER BRASIL SEGUROS E PREVIDÊNCIA S.A. | 3,28% |
