The insurance market registered an increase in its revenue (issued premium) for the sixth consecutive month. In November 2020, the increase was 10% in comparison with the same period in 2019, making up around BRL10.5 billion. It is what is pointed out by the Newsletter IRB+Mercado, a report in Portuguese disclosed today (January 07th) by IRB+Inteligência, IRB Brasil RE’s data intelligence service.
The accumulated increase from January to November 2020 was closed as 4.9%, summing up BRL112.2 billion in insurance issued premiums. Responsible for 37% of the total revenue in the market, the life insurance sector varied positively in 4.2% in comparison with the accumulations of 2020 and 2019: an increase of BRL1.6 billion. Only in November, the revenue of this line reached BRL4 billion.
The index measuring the proportion between expenses with claims that took place and the income allocated for the month of November 2020 presented an increase of 4.3 percentage points in comparison with November 2019. However, considering the accumulation for the year, according to the newsletter IRB+Mercado, the rate of claims presented an improvement with a drop of 1.6%.
“November was another exceptional month for insurance market, in which the income increased 10%, ratifying the trend for a macroeconomic improvement in Brazil”, evaluates the CEO and chairperson of the Board of Directors of IRB Brasil RE, Antonio Cássio dos Santos.
The newsletter IRB+Mercado summarizes the insurance and reinsurance operations from public data made available by Susep by the end of December, focused on damage, liability and personal insurance. The third edition also presents a list of the five greatest insurers by area of business. The analysis, published monthly, is available, as a whole, on the company’s website (www.irbre.com).
On the same page, IRB offers an interactive data dashboard, allowing for dynamic consultation to the data. Dashboard IRB+Mercado Segurador, as it is called, was developed by the reinsurer, it is free, easy to access, and presents information from all the sector.