In January, insurance companies acquired R$ 2.8 billion in reinsurance

Publicado em: 11/04/2024

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IRB+Intelligence showcased that this amount is the highest ever recorded in the historical period, which started in 2014. Compared to January of the previous year, the increase was of 3.6%

Insurance companies acquired R$2.8 billion in reinsurance in the first month of the year, which represents an increase of 3.6% compared to January 2023. The amount, according to the 40th edition of the IRB+Market Bulletin released today (04/11) by the IRB+Intelligence platform, is the highest ever recorded in the historical period, which started in 2014. The assessment, conducted according to the database published by Susep on April 1st, demonstrates that the premiums ceded in reinsurance, which amounted to R$ 557 million ten years ago, have practically increased five times since then.

In January, the increase in reinsurance agreements, despite being a record, did not correspond to the same speed of growth the insurance premiums had. The total turnover of insurance companies reached R$ 16.6 billion, an amount 10.3% higher than the one recorded in January 2023. According to the IRB+Market Bulletin, which covers damages, liabilities and personal insurance, almost all segments experienced an increase, especially Credit and Guarantee, with the highest positive variation (+21.8%), and Life insurance, which presented the highest nominal variation (+ R$ 745 million.) The Rural insurance was the only one that experienced decrease (-1.2%).

Among the insurance groups, 66% had an increase in turnover, compared to the first month of last year. Also, according to the IRB+Market Bulletin, the insurers’ net profit increased slightly (+2.4%), reaching R$ 2.78 billion. Overall loss ration dropped another 1.5 percentage points (p.p.) and closed at 43%. The recovery was mainly driven by the drop in the loss ratio in the segments Credit and Garantee (-84.9 p.p.), and Corporate Damages and Liabilities (-4.4 p.p.).

Travel Insurance drops 14.8%

The largest segment, Life insurance, which accounts for 33.7% of the market, increased by 15.3%, compared to January 2023, and ended the month with a turnover of R$ 5.6 billion. Life and Personal Accident insurance products increased by 16.3% and 26.1%, accordingly. On an opposite trend, Travel insurance dropped by 14.8%. The segment loss ratio went down by 0.4 p.p., closing in 28.3%.

The Automobile segment, which accounts for 27.8% of the market, earned R$ 4.6 billion, a positive variation of 4.7%. Since October 2021, the segment’s loss ratio has been showing an improvement. In the first month of 2024, there was a reduction of 2.6 p.p., compared to January 2023: 58.6%. On the other hand, the Corporate Damages and Liabilities segment, which represents 20% of written premiums, increased its revenue by 10.2%: R$ 3.3 billion. The segment’s loss ratio dropped 4.4 p.p, resulting in 30%, the best percentage in the last two years.

Showing the highest variation for the month of January since 2014, the Individual Damage insurance increased by 18.8% in the annual comparison, reaching R$ 1.4 billion. The segment, which accounts for 8.2% of the market, received a 32.2% boost from the sale of Comprehensive Home insurance. The segment’s loss ratio increased, from 38.5% in January 2023 to 44.2%.

The Rural segment ended January issuing R$1.2 billion in premium. The segment, which accounts for 7.1% of the market, experienced an increase in loss ratio of 33.8 p.p, reaching 71.3%. The smallest segment (3.2% of total revenue), Credit and Garantee registered a turnover of R$ 530 million in January. This month, the loss ratio dropped 84.9 p.p., reaching 28.4%.

The IRB + Market Bulletin, available in full on the IRB(Re) website, summarizes all insurance operations. The IRB+Insurance Market Dashboard, which allows dynamic and free consultation of information from the entire sector, is also online. Go to

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