The insurance business saw an increase of 7.2% in August and a turnover of R$ 17.5 billion

Publicado em: 25/10/2023

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The insurance market made R$17.5 billion in August, an increase of 7.2% compared to the same month last year. The findings come from what the 35th edition of the IRB+Mercado Bulletin shows, as released today by the IRB+Intelligence platform, based on the regulating body for the segment, Susep, when informed about it, on 10/16.

In the first eight months of the year, premiums issued totaled R$123.7 billion, an increase of 11.2% compared to the same time frame accounted for in 2022. All categories saw positive variations, most notably Credit and Guarantee, which registered a 19% increase.

The loss ratio in August dropped by 4.9 p.p., compared to the same month in 2022, coming in at 40.5%. From January to August, there was a drop of 11 p.p., coming to 42.7%.

The rural segment decreased in August
The Life segment, which had a turnover of R$5.7 billion in August, registered a 6.5% year-on-year increase. In the first eight months of the year, the increase has been of 7.8% compared to the same time frame in 2022. The Individual category, with an increase of 18.5%, was the main driver of the segment’s performance. The segment’s loss ratio decreased by 1.8 p.p. and closed at 30.3%.

In the Automobile category, the turnover for the month was R$5.2 billion, an increase of 3.2% compared to August 2022. In the year to date, the segment has increased by 14.5% against the first eight months of 2022, and its turnover has risen by R$4.7 billion. In the same period, the loss ratio dropped 13.8 p.p., reaching 58.8%.

The Corporate Damages and Liability segment, the highlight in August, had an increase of 18.5% compared to August 2022, registering a turnover of R$2.9 billion. The highlight was the Oil segment, which accounted for 81% of the monthly increase. In the year to date, there was an increase of 12.6% compared to the same period in 2022, mainly due to the product Appointed and Operational Risks, which had an increase of 19.8%. The loss ratio dropped from 40.8% along the 8M22 (first eight months of 2022) to 38.8% within the same period in 2023.

The Individual Loss Fund has increased by 13.6%, when compared to August 2022, with a turnover of R$1.3 billion. In the year to date, the increase was of 13%, especially due to the growth of the Comprehensive Corporate (21.2%) and Residential (13.3%) segments. During 8M23 (the first eight months of 2023), the loss ratio dropped 4.8 p.p., reaching 33.1%.

The Rural segment, with a turnover of R$1.8 billion, dropped 4% in August 2023, compared to the same month in 2022. From January to August, however, the increase was of 6%. The loss ratio during 8M23 decreased from 131.8% to 35.6%, resulting in a drop of 96.2 p.p., compared to the same period last year.

Meanwhile, the Credit and Collateral segments had the highest monthly and accumulated variation among all categories, with an increase of 26.3%, compared to August 2022. The year tdate rise is of 19%. The performance was driven by the product Collateral Policyholder – Public Sector (24.5%). The loss ratio jumped significantly from 36.5 to 61.9% points, as a result of the increase in claims.

The IRB+Mercado Bulletin summarizes insurance operations, considering damages, liability, and personal insurance. The edition also lists the top five insurance groups by line of business and is available, in full, at the website Just like the IRB+Mercado Segurador Dashboard, which allows dynamic and free of charge consultation of information from the entire segment.

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