Direct written premiums in Brazil (without VGBL)
Brazil's life and non-life insurance market (without VGBL products) has demonstrated robust growth, with the accumulated premiums reaching R$ 139.1 billion in September 2023, marking a significant increase from the previous year's R$ 126.5 billion. This represents a noteworthy 9.9% year-on-year growth, showcasing the resilience and expansion of the insurance sector in the country.
Examining the market share dynamics, BRASILSEG COMPANHIA DE SEGUROS emerges as a key player, experiencing a significant 0.89% quarterly growth in market share. Other notable performances include ZURICH SANTANDER BRASIL (+0.17%), PORTO SEGURO (+0.16%), CARDIF DO BRASIL (+0.09%), and ALLIANZ SEGUROS (+0.08%).
Additionally, the ranking of insurers by their share in the total premiums (life and non-life) reveals BRASILSEG holding the leading position with a market share of 8.5% as of Q3.2023. PORTO SEGURO follows closely with a market share of 8.3%. The top five insurers ranking as of Q3.2023 also includes TOKIO MARINE SEGURADORA (6.5%), MAPFRE SEGUROS GERAIS (5.4%), and BRADESCO VIDA E PREVIDÊNCIA (5.2%).
Examining the market share dynamics, BRASILSEG COMPANHIA DE SEGUROS emerges as a key player, experiencing a significant 0.89% quarterly growth in market share. Other notable performances include ZURICH SANTANDER BRASIL (+0.17%), PORTO SEGURO (+0.16%), CARDIF DO BRASIL (+0.09%), and ALLIANZ SEGUROS (+0.08%).
Additionally, the ranking of insurers by their share in the total premiums (life and non-life) reveals BRASILSEG holding the leading position with a market share of 8.5% as of Q3.2023. PORTO SEGURO follows closely with a market share of 8.3%. The top five insurers ranking as of Q3.2023 also includes TOKIO MARINE SEGURADORA (6.5%), MAPFRE SEGUROS GERAIS (5.4%), and BRADESCO VIDA E PREVIDÊNCIA (5.2%).
