Insurance companies end 2021 with high turnover and loss ratio

Publicado em: 07/03/2022

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The insurance sector ended 2021 with a positive variation in revenue of 14.6% compared to 2020, which represents R$18.1 billion more in premiums issued, totaling R$141.9 billion. This is what the 16th edition of the IRB+Market Bulletin shows, the monthly report of the IRB+Intelligence platform released today (03/07). The sector that grew the most last year was Rural, with a result 39.3% higher than in 2020.

In December last year, the increase reached 19.3% compared to the previous year, anchoring the positive result of the sector in the fourth quarter (4Q21): + 13.2% compared to 4Q20. The sectors that stood out the most were Corporate Damages and Liabilities and Rural, with variations of 24.5% and 24%, respectively. In the comparison between 4Q21 and josianeo 3Q21, the rise was that of 1.3%.

The sector’s overall loss ratio also ended the year booming. Year-to-date, the index rose 7.4 p.p. compared to 2020, resulting in 51%. This increase in loss ratio was driven by the Automobile segment, which presented R$3.7 billion more in loss ratio compared to 2020. Disregarding this segment, the total loss ratio would be that of 46%. Despite the insurance sector’s net profit having grown 35% in December, in 2021 the result is 36.8% lower than in 2020.

By segment, Life represented 36.1% (R$ 51.3 billion) of premiums issued last year, up 12.8%, mainly due to the Individual and Collective Life product, which varied 17.6% and was responsible for 60.4% of the segment’s annual growth. Next are: Automobiles, 27.1% (R$ 38.4 billion); Corporate Damages and Liabilities, 18.4% (R$ 26.1 billion); Individual Liability, 8.4% (R$ 11.9 billion); Rural, 6.8% (R$ 9.6 billion); and Credit and Assurance, 3.2% (R$ 4.6 billion).

The IRB+Mercado Bulletin summarizes insurance operations based on public data made available by Susep on 02/09, considering damage, liability and personal insurance. The edition also lists the top five insurance groups by line of business. The full analysis is available on the site of IRB Brasil RE. At the same address, the Dashboard IRB+Insurance Market allows dynamic and free consultation of information from the entire sector.

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