The 13th edition of the IRB+Market Bulletin, monthly report of the IRB+Intelligence platform, of IRB Brasil RE, points out that the insurance sector recorded, in September, BRL 12.2 billion in written premiums, an increase of 10% compared to the same month of 2020. In 2021, considering the first nine months of the year (9M21), sales reached R$ 104.1 billion, an increase of 15.1%, or R$ 13.7 billion more, compared to the same period of the year past. The increase percentage is much better than the 3.6% growth that took place in the 9M20 vs. 9M19.
The Rural segment achieved the best performance in September: an increase of 48.9%, with sales of R$ 1.1 billion. Considering the overall amout of January to September, the sector reached the mark of BRL 7.5 billion, an increase of 44.4% and an increase of almost BRL 579 million compared to the year 2020. On the other hand, the loss ratio rose from 67.5% to 77.7% in the 9M21 vs. 9M20.
With of the largest revenue in the sector, Life issued R$ 4.4 billion in September, growth of 4.6% compared to the same month in 2020. In the year, the increase is 13.9%. The Credit and Warranty sector recorded revenues of R$ 359 million in September, decreasing 15.2% in comparison with the same month in 2020. This decline in the month, however, was not enough to reverse the annual growth trajectory, with an increase of 3.3% in the 9M21 vs. 9M20.
In September, the loss ratio in the insurance sector increased again, with an increase of 2.7 percentage points (pp) compared to the same month of the previous year, closing the quarter (3Q21) at 53.1%, which equivalent to an increase of 8.4 pp compared to the same quarter of the previous year (3Q20). As per the accrued up to September, the index increased 7.2 p.p. in relation to the rate of the 9M20 and closed at 50.6% in the 09M21.
The IRB+Market Bulletin summarizes insurance operations based on public data made available by SUSEP on 11/17, considering damage, liability and personal insurance. The edition also lists the top five insurance groups by line of business. The analysis is available, in full, on the IRB Brasil RE website. At the same address, the IRB+ Insurance Market Dashboard allows dynamic and free consultation of information from the entire sector.