For the first time, insurance and reinsurance market will be among the official themes to be discussed by G20, a group that gathers the most economically developed countries in the world. Around 60 Brazilian leaders from the sector are meeting today (August 8th) at Hotel Unique, in São Paulo, for a prior presentation of the subjects that will be brought to Insurance Forum, which will take place between September 24th and 26th, in Argentina, with the participation of the countries of G20.
This is an initiative of the Argentinian Insurance Superintend, Juan Pazo, and of IRB Brasil RE’s Chairman, José Carlos Cardoso. The objective of this first meeting is defining the main question that must be analyzed and considered for the Insurance Forum, reinforcing the meaning of the insurance and insurance market for global economy.
“Our role is leading the discussion taking advantage of the presence of great names in our market to increase the visibility of the sector, which has a fundamental role for G20’s agenda. We know question involving technological innovation, sustainable development and financial stability, for example, are not fully solved without our sector’s involvement. We can contribute not only through the development of innovating products for positively impacting economy, but also stimulators of resources for common objectives”, explains one of the four coordinators in the Insurance and Reinsurance Group of G20, José Carlos Cardoso.
In addition to the Argentinian Superintendent and IRB Brasil RE’s Chairman, the schedule has presentations of the Argentinian Ambassador in Brasil, Carlos Alfredo Magariños, of the Insurance Forum Chairman, Adrian Werthein, and of CNseg Chairman, Marcio Coriolano, also including the Argentinian general-consul in São Paulo, Luiz Castilho.
Market Growth
The sector’s relevance is proved by the figures. In Brazil, reinsurance market has maintained the historical tradition of growing by two high digits in 2017, even during the economic crisis in the country.
IRB Brasil RE has a fundamental part in this result, which keeps growing in 2018. The net profit of the company reached BRL 541 million in the first semester of this year, what represents an advancement of 19% regarding the period of 2017. On the other hand, regarding the total volume of the premium issued, it grew 17%, reaching BRL 3.3 billion.
According to José Carlos Cardoso, the figures confirm the inclusion of this theme in G20’s discussions will be good for all and this unique and pioneering event is a benchmark for the market, making the insurance and reinsurance sector an important stakeholder for the future meetings of the greatest economies of the world.
