{"id":9514,"date":"2024-11-05T17:35:10","date_gmt":"2024-11-05T20:35:10","guid":{"rendered":"https:\/\/www.irbre.com\/?p=9514"},"modified":"2024-11-12T23:09:01","modified_gmt":"2024-11-13T02:09:01","slug":"net-profit-of-insurance-companies-drops-19-5-in-april","status":"publish","type":"post","link":"https:\/\/www.irbre.com\/en\/net-profit-of-insurance-companies-drops-19-5-in-april\/","title":{"rendered":"Net profit of insurance companies drops 19.5% in August"},"content":{"rendered":"

IRB+Market Bulletin, disclosed by the IRB+Intelligence platform, shows that the sector issued R$18.1 billion in premiums in the eighth month of 2024, up 3.5% compared to August 2023. The reinsurance contracts fell 15.2%<\/em><\/p>\n

The net profit of insurance companies dropped 19.5% in August, compared to the same period last year, closing the month in R$3.1 billion. This is shown in the 46th issue of the IRB+Market Bulletin, as disclosed today (November 05) by the IRB+Intelligence platform. The analysis considers the most recent data published by Susep, the agency that regulates the sector, on October 28 and focuses on damage, liability and personal insurance. Year-to-date, insurance companies recorded a net income of R$23.8 billion, down 2.7% year-on-year.<\/p>\n

In all, in August, the sector issued R$18.1 billion in premiums, up 3.5% compared to the same month in 2023. Almost all segments grew, except Rural, which dropped 11.9%, to R$1.6 billion in written premiums. Credit and Guarantee was the segment with the highest positive change: 12.3%, with revenues of R$660 million. From January to August, the sector issued premiums of R$136.1 billion, an increase of 10%. The Life segment was responsible for 58% of the progress in revenues year-to-date.<\/p>\n

The loss ratio, an indicator that evaluates the operating performance of insurance companies, was 41.1%, a slight increase of 0.3 percentage points (p.p.). In the sum of the first eight months of the year, the index was 43.7%, an increase of 1 p.p. Also in August, premiums ceded in reinsurance totaled R$2 billion, a decrease of 15.2%. Year-to-date, insurance companies contracted R$18.1 billion in reinsurance, an increase of 3.8%.<\/p>\n

Life earns R$6.3 billion in August<\/strong>
\nIn August, Life recorded revenues of R$ 6.3 billion, a growth of 9.8% when compared to the same period of 2023. With a monthly increase of 13.8%, the Collective Investor insurance was the one that contributed the most to the result. In 8M24, the segment, which was responsible for 34.9% of the market, advanced 17.7%, with a cumulative loss ratio of 29.4%.<\/p>\n

The Auto segment issued R$5.2 billion in premiums in the eighth month of the year, a positive change of 0.8%. In the annual sum, the advance is 1.7%. The loss ratio, also cumulative up to August, stood at 59.5% (+0.6 p.p.).<\/p>\n

Damages and Liabilities recorded revenues of R$2.9 billion in August, an increase of 1.3%. In 2024, the advance is 12.3%. The loss ratio, in August, increased from 34.9% to 46.7%, mainly due to the growth of 329.1 p.p. in Aeronautical claims, as a result of the Voepass air accident. In 8M24, the rate was 52%.<\/p>\n

Individual damage totaled R$1.5 billion in August, an increase of 9.1% compared to the same period last year, mainly thanks to property risk insurance, a positive change of 7%. In 8M24, the segment rose 17.1%. Loss ratio fell 0.6 p.p., reaching 32.6% year-to-date in 2024.<\/p>\n

The only segment with a retraction in August, Rural earned R$1.6 billion (-11.9%). Year-to-date, the segment also recorded a drop: -3.3%. The loss ratio from January to August stood at 36.2%, up 0.6 p.p.<\/p>\n

Finally, Credit and Guarantee totaled R$660 million in written premiums in August, up 12.3%. From January to August, the segment accumulates an increase of 11.3%. The cumulative loss ratio decreased by 38.8 p.p. compared to the same period of the previous year and reached 22.3%.<\/p>\n

The IRB+Market Bulletin, available in full on the IRB(Re) website<\/a>, summarizes insurance operations. The IRB+Market Insurer Dashboard, which allows dynamic and free consultation of information, is also online. Go to www.irbre.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

IRB+Market Bulletin, disclosed by the IRB+Intelligence platform, shows that the sector issued R$18.1 billion in premiums in the eighth month of 2024, up 3.5% compared to August 2023. The reinsurance contracts fell 15.2% The net profit of insurance companies dropped 19.5% in August, compared to the same period last year, closing the month in R$3.1 […]<\/p>\n","protected":false},"author":32,"featured_media":6908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[63],"tags":[],"class_list":["post-9514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.irbre.com\/en\/wp-json\/wp\/v2\/posts\/9514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.irbre.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irbre.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irbre.com\/en\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irbre.com\/en\/wp-json\/wp\/v2\/comments?post=9514"}],"version-history":[{"count":2,"href":"https:\/\/www.irbre.com\/en\/wp-json\/wp\/v2\/posts\/9514\/revisions"}],"predecessor-version":[{"id":9516,"href":"https:\/\/www.irbre.com\/en\/wp-json\/wp\/v2\/posts\/9514\/revisions\/9516"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.irbre.com\/en\/wp-json\/wp\/v2\/media\/6908"}],"wp:attachment":[{"href":"https:\/\/www.irbre.com\/en\/wp-json\/wp\/v2\/media?parent=9514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irbre.com\/en\/wp-json\/wp\/v2\/categories?post=9514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irbre.com\/en\/wp-json\/wp\/v2\/tags?post=9514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}