The 11th edition of the IRB+Mercado Bulletin, a monthly report from the IRB+Inteligência platform, points out sales by insurance companies, in July, of R$12.4 billion, an increase of more than 9% compared to the same period in 2020. It is the highest value for July ever recorded since the beginning of the historical series, in 2014. Up to the seventh month, premiums issued totaled R$79.31 billion, an increase of 15.4% and an increase of R$10.6 billion in relation to the total between January and July 2020. Insurers’ net income reached R$523 million, 72.1% less than in July 2020.
The Life segment had revenues of R$4.4 billion and accounts for most of the July turnover, with 35.7%. Its is followed by Auto with R$3.4 billion; Damages and Liabilities, R$2.1 billion; Rural, R$1.1 billion; Personal Injury Liability, R$1 billion; and Credit and Guarantee, R$383 million. Year to date, Life also accounts for the greatest growth in premiums issued: R$3.8 billion more.
On the other hand, the loss ratio remains on the rise. The index Claim Occurred on the income of July increased by 14 percentage points (p.p.) in comparison with the same month in 2020. The index also grew in the year to date: 7.6 p.p. more than the rate recorded in the same period in the last year. The loss ratio in the Auto segment, from January to July, reached 58%, 4.6 p.p. higher than the 53.4% rate recorded in the same period in 2020.
The IRB+Market Bulletin summarizes insurance operations based on public data made available by Susep on September 17, considering damage, liability and personal insurance. The edition also lists the five largest insurance groups by business line. The analysis is available, in full, on the IRB Brasil RE’s website (www.irbre.com). On the same website, IRB+Insurance Market Dashboard allows free and dynamic queries from the entire sector.