IRB+Market Report shows a 13.8% increase in the transfer of premiums to reinsurers compared to the first three months of 2024. Insurance sector revenue totaled R$ 52.3 billion
Insurers across Brazil contracted R$ 7.1 billion in reinsurance in the first three months of 2025. The amount is 13.8% higher than that recorded in the first quarter of last year, with emphasis on the Property, Automobile and Guarantee business lines.
This is what the 51st edition of the IRB+Market Report shows. Published today (06/06) by the IRB+Inteligência platform, the analysis considers the database updated by Susep, the market regulatory body, on Monday (02/06).
The pace of reinsurance contracting, unlike in 1Q24, outpaced the growth in insurers’ revenue. From January to March, insurance premiums issued totaled R$52.3 billion, 8.7% higher than the amount recorded in the same period in 2024.
In relation to losses incurred, the accumulated total was R$ 19.9 billion in this first quarter. The loss ratio closed at 41.6%, 1.9 percentage points (p.p.) above the rate recorded in the first three months of last year, aggravated mainly by the Corporate Damage and Liability segment, which showed an 8 p.p. increase in the loss ratio.
35.8% of premiums issued are Life
The largest segment of the insurance market, Life was responsible for 35.8% of premiums issued in 1Q25. The segment earned R$ 18.7 billion, an increase of 9.2% compared to 1Q24. Life and Lender insurance, which together accounted for 72.3% of this increase. The loss ratio in the segment remained stable and closed at 28%.
Automobile grew 6.7% in the first three months of the year and totaled R$14.2 billion in premiums. The loss ratio increased 3.1 p.p. compared to 1Q24, closing at 60.3%.
Damages and Liabilities, in turn, ended the first quarter with R$9.8 billion in revenue, an increase of 11% compared to 1Q24. The loss ratio closed at 38.6%, mainly due to the increase in claims in the Aeronautical, Property and Transportation lines.
Individual Damage recorded revenue of R$4.5 billion in 1Q25, a positive variation of 12.7% compared to a year earlier, mainly due to Comprehensive Business and Extended Warranty insurance. The loss ratio, on the other hand, fell 3.5 p.p., closing the quarter at 32.8%.
Rural ended the quarter with a 0.2% decline compared to 1Q24, totaling R$3.3 in premiums. Despite the growth recorded in January and February, respectively, 3% and 7%, the 11.6% drop in March was enough to reverse the positive trajectory. The loss ratio increased 3 p.p., reaching 48.9%.
With double-digit growth from January to March 2025, the Credit and Guarantee segment ended the quarter with the highest variation in the market: +14.7%, with emphasis on the Guarantee Insured product – Public Sector (+38.9). The loss ratio fell 3 p.p. and reached 25.9%.
The IRB+Market Report, available in full here on the IRB(Re) website, summarizes insurance operations. As for the dashboard, it allows dynamic and free consultation of information from the entire segment.
