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Letter From the President
The strength of a legacy
Brazilian Insurance Sector Entities
6 Article on the Current Scenario
The future of the insurance sector and the certainty of the eternal insecurity
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18 91
Member Federations 2 Summary
LETTER FROM THE PRESIDENT
The strength of a
legacy
Marco Antonio Rossi left important contributions that will inspire all those who are at the head of the Confederation
Jayme Brasil Garfinkel | President of CNseg
S
cientist Albert Einstein once said that a crisis can be a real blessing to any people, to any nation, for all crises bring progress. If we want things to change, he said, we have to do them differently. Following on Einstein´s wise words, it is reasonable to say that it was with this spirit of transformation in mind that the Brazilian insurance sector, represented by the markets of General Insurance, Private Open Insurance and Life, Supplementary Health and Premium Bonds, acted in 2015. Faced with the complex scenario and circumstances of the country, which affected the economy as a whole, Insurance companies endeavored to reformulate their plans and processes in order to find the best ways of meeting the new needs of Brazilian society through their products and services. We should not, however, remember only the difficulties. We must also celebrate achievements, which are the result of a collective effort on the part of market agents. On this matter, CNseg worked hard to bring together the agents of the sector in order to increase their contribution as a lever for the rekindling of economic development in the country. In 2015, the Confederation headed several projects in joint work with its Federations and other partners to strengthen and expand the presence of products supplied by Insurance companies to Brazilian companies, institutions and citizens for their daily lives. Among the initiatives led by CNseg, I would like to point out the boost in communication channels with the Legislative, Executive and Judiciary powers, as well as with consumer protection agencies and market authorities; the drafting of the Prev Saúde bill, approved by the House of Representatives and then sent to the Senate for approval; the rethinking and increment of insurance market statistics; the rise in operations conducted by the Service Center with the development of new products and services for affiliated companies; the fostering of improvements to be made to insurance companies systems and focused on digital security and the supply of new platforms. With regard to the training of professionals of the sector, I wish to underscore the creation of the CNseg Professional Certification – CPC as well as the valuation and recognition given to the Confederation´s workforce, centering on the management of collaborators’ performance. It is undeniable that these and many other achievements were the result, to a large extent, of
Brazilian Insurance Market | Results and Prospects
In 2015, the Confederation headed several projects in joint work with its Federations and other partners to strengthen and expand the presence of products supplied by Insurance companies to Brazilian companies, institutions and citizens for their daily lives.
Watch the video that shows the tribute paid by the insurance community to Marco Antonio Rossi
Letter From the President
4 Summary
He who overcomes a crisis, overcomes himself, without getting “overcome.” It is in the crisis, that we can show the very best in us.” Albert Einstein
Marco Antonio Rossi´s beliefs, who worked tirelessly at the head of CNseg to unite the sector. Perpetuating the legacy left by this great professional, who left us much too early, will always be an important goal for those who will be at the head of the Confederation. Finally, and still borrowing from Albert Einstein´s thoughts on learning brought about by crises, I would like to conclude with the thought that it is in moments such as this that inventions, discoveries and great strategies are born. He who overcomes a crisis, stressed the great scientist - overcomes himself, without getting “overcome.” It is in the crisis, continued Einstein, that we can show the very best in us. “To speak about a crisis it is to promote it. Not
Brazilian Insurance Market | Results and Prospects
to speak about it is to exalt conformism.” “Let us work hard instead,” he stressed. And it is exactly this type of work, hard and persistent, that permeates the content of this publication, renamed Brazilian Insurance Market: Results and Prospects. In the pages that follow, the reader will have access to more analytical and clear information about the current performance and Prospects for the insurance sector in a way that is always related to the developments in the country´s situation. With this new format, CNseg wishes to contribute to an even greater degree to a heightened understanding of the work carried out by the companies which operate in the segments of General Insurance, Private Pension Plans, Premium Bonds and Supplementary Health.
Jayme Brasil Garfinkel President of CNseg
Letter From the President
5 Summary
ARTICLE ON THE CURRENT SCENARIO
The future of the insurance sector and the certainty of the eternal insecurity The Insurance market has been growing stronger and more specialized in Brazil. This is no new finding, but it is always good to emphasize progress achieved. Daniel Domeneghetti | CEO of DOM Strategy Partners
“Nothing can ever be taken for granted anymore.�
N
ational and international companies, different value proposals and business models, increase in the number of insurance lines and channels, innovation in services, products and technologies, among others. There are several variants that we can point to as factors that have been turning the insurance activity in the country into something evergrowing and consistently mature. However, like everything that wants to grow and consolidate itself as a rule, the insurance market also becomes exposed and subjected to the transforming action of hyper-modernity and social evolution. The countless endogenous and exogenous, natural or artificial transformations that society and the markets have been undergoing leave no room for managers of major insurance companies to imagine that the position they have achieved today can be taken for granted tomorrow. Nothing can ever be taken for granted anymore.
Brazilian Insurance Market | Results and Prospects
There is no doubt that the near future - especially for retail activities in Large Scale Services, strongly driven by the digital factor, as is also increasingly the case with the ever changing nature of the insurance sector - will not be a linear continuity of what we have today in terms of formats and models for companies operating in the market. I formally underline here the main change through which insurance companies have been going in a slow, violent and irreversible way, even if they haven´t yet realized it - if that is at all possible: a permanent change in purpose, model and performance profile from what in the past was defined as a Product Industry - always following a B2B and/or B2B2C approach - into a model of Retail of Specialized and/or Large Scale Insurance Services, with or without an insurance industry coexisting as an integrated model that superimposes the divergent - and sometimes exclusive - dynamics of traditional B2B and B2B2C operations to B2C and even B2C2C approaches on the integration of the so-called collaborative social media in the business models.
First and foremost, however, it is worth pointing out that, depending on the lines of specialization, the focus of the market and the business strategy of the company, one must admit that different kinds of impact affect different companies in specific ways. So, if, for some, this challenge means entirely changing the focus of their activities or operational basis, for others it means changing the way they position themselves in the market or even incorporating new competences that are fundamental for effective competition in these new business-oriented ecosystems. So that we can better perceive the relevance and irreversibility of this transformation, we must describe some of the key variables that give momentum, meaning and strength to this movement, as seen in the research conducted by DOM Strategy Partners. To make their study easier, these variables that have different origins, natures and times - are organized below in different categories: Inescapable Assumptions; External Drivers; Strategic Imperatives; Transforming Effects.
Article on the Current Scenario
7 Summary
Category
Inescapable Assumptions Are horizontal elements that affect basically all sectors, markets and players in a homogeneous way, and become the new conditions of contour. Among these main assumptions we can mention:
Exponential globalization of markets paradoxically associated with the strong weight given to local issues (including with regards to legal, regulatory and also cultural aspects);
Creative multiplicity of communication, sales and relationship channels, compelling brands and companies to be always present and close to their markets and customers;
Growing universalization of knowledge and access by potential customers, of different sizes (corporate) and social classes (natural persons), to products and services seen before as sophisticated or less critical, especially those more concretely related to the daily activities of companies and individuals, like Car, Life and Health, among others;
Revision of the role/duty to operate indirectly through brokers and other distribution partners; and Market consolidation and parallel segmentation of offers and value proposals with the specialization of some players in products, services, markets, channels, platforms or specific business models.
Decrease in the price of new technologies, especially those linked to information and communication, affecting the life and routine of companies, their partners/channels, corporate customers and, obviously, their insured and beneficiaries;
Brazilian Insurance Market | Results and Prospects
Article on the Current Scenario
8 Summary
Category
External Drivers These are variables that are outside the operation of the company, which tend to speed up, delay or modify its direction and strategic pace. Some can be anticipated and managed; others are absolutely unforeseeable. Among those, we can mention:
The trend to increase regulation and official control (direct and indirect governmental action) and social monitoring by groups of consumers, users, patients, among others, of so as to standardize, control and disseminate the operational ways and practices of every company; The exponential Increase of information stimuli produced by customers, users, stakeholders and other players related to the companies that will translate, on the one hand, in having to acquire, treat, store data (obviously including here the evolution of technologies such as Cloud and Big Data) and, on the other hand, in having to develop dynamic responses for understanding, addressing and answering of requests and questions;
either for the procurement of products and services or the indication and defense of the company, or in the appreciation of their shares (for open-capital companies); The pressure exerted by new generations, such as the Y, the Z and the Millennials in their roles as customers as well as employees, investors and citizens, changing radically the way companies consider, deal with and relate to individuals and other organizations; and The significant increase of interdependence between individuals, companies and organizations due to the logic of networks and to mass connectivity, and from the concepts of Mobility, Convergence and Contribution - MCC, Biometrics and the Internet of Things - IOT.
The significant impact of the weight of Reputation (understood here as the positive product of corporate Credibility and Image) in the way companies are evaluated, selected and valued by their stakeholders,
Brazilian Insurance Market | Results and Prospects
Article on the Current Scenario
9 Summary
Category
Strategic imperatives These are the external factors that will effectively change the core of the business, its commercial essence; they are the elements and trends that directly affect the products and services created by the companies, since they affect their logic and purpose, such as:
Sustainability issues, especially those related to energy, eco-efficiency, mobility and urban intelligence, biodiversity and climate changes; Demographic, cultural and population-related aspects of countries and nations, including (i) massive migration of individuals and refugees from war/poverty; Ethical crises at the global , local and group/segment levels of the population, involving critical matters such as sex, religion, science, ethical limits, individual freedoms, among others; New Generations X Aging of the Population and the absorption, occupation and satisfaction of functionally dependent individuals, the undervalued professionals, the hyper-connected young and all sorts of clusters, segments and niches/tribes formed physically and virtually, be they ephemeral or long-lasting;
Increasing relevance of the culture of prevention and promotion of health, both individually as well in terms of collective pressure and monitoring by the media; Hyper-hedonism and hyper-experimentalism leaving their mark on the culture of individual will and the bringing down of space-time barriers, especially with regard to 3D technologies and similar things; The increasing weight of Large Risks, Terrorism and the search for intelligent models for the Maintenance of Peace; Challenges of Dynamic Pricing and Instantaneous “Perfect� Markets; Digital Risks, Cyber/Information Crimes and Individual Rights Permission/Data protection/Information Security; and Aspects linked to all sorts of Compliance issues.
New illnesses, new treatments, informational drugs/date drugs and new technologies for medication, among others;
Brazilian Insurance Market | Results and Prospects
Article on the Current Scenario
10 Summary
Category
Transforming Effects Because of all these things, insurance companies will have to rethink themselves as “animals,” since in market Darwinism, with so many forces out of their control, as mentioned above, it is better to be capable of, at least minimally, anticipating, understanding and reacting than to try to foresee and control what cannot be controlled. It can therefore be said that markets and value chains will no longer be linear (“Porterian”) but digitally and physically integrated multi-ecosystems, online and on time, with individuals and companies alternating roles and powers. Therefore, in order to compete in this new world, insurance companies will have to address internally a number of changes in terms of their structural DNA and of their corporate culture, the way they operate, positions taken and values, competences and strategic vision. Among the main challenges that we can point out – which are not necessarily the most critical or important to all players, we can list: The capacity to innovate and/or copy quickly (within their own sector and other sectors), ensuring a successful go-to-market strategy for products and services;
The intelligence to quickly invest and to divest, identify, buy and integrate startups and new technologies, as well as to abandon historically successful practices and models that will not survive the changes through time;
The capacity to add value to what is supplied in a way that is contextualized and segmented by audiences/market so as to differentiate themselves from the competition in a world of “overabundance” of supply;
The capacity to integrate themselves to the main networks, chains and sectors in the market, increasing efficiency, speed and the more robust development of efficient solutions and more competitive costs;
The skills to engage stakeholders, especially customers and consumers, in order to bring them to the center of the development of solutions, in order to improve products, services, contents…;
Betting on digital as the leveraging factor and on the capacity to identify and internalize new technologies that are relevant, seeing them increasingly as an END as opposed to a MEANS (with them being, paradoxically, increasingly more fundamental as MEANS as well);
A complete revision of partners and roles, including the challenge of being present in a multiplicity of channels (especially digital) and the obligation of directly relating to, and doing business with the final user in a continuous way; The capacity to understand that modeling the usability of platforms, interactive experiences and value proposals of the brand itself are fundamental competences to become the company of choice; The intelligence to propose new ways of setting the price, supplying, billing and making profitable products and services;
Brazilian Insurance Market | Results and Prospects
The capacity to treat “each” Customer as if he were unique, applying analytical intelligence and models, developing efficient algorithms, promoting mass customization, delivering value per transaction context and relationship; and The capacity to compete and/or associate with/partner up with new players and new business models, such as 100% digital companies, such as online brokers, financial service providers, digital banks and fintechs, among others.
Article on the Current Scenario
11 Summary
Be it as it may, welcome all to the age of it “we are all insecure forever.” Daniel Domeneghetti
In short, it´s in this kind of scenario that major threats can turn into opportunities, so that he who sees that first and better will go farther. This why being capable of testing, trying, experimenting is increasingly fundamental. The insurance market will be increasingly more exposed to these dilemmas and challenges; its decision-makers having an ever diminishing hold on solid ground when the time to make decisions comes. The risk models and algorithms applied to business, products and customers will now be used for strategic management itself and the management of the competitive capacity of companies. In this shifting ground, those who can deal with uncertainties and complexities, and include them in their management and supply models, will have more chances of being successful. In situations
Brazilian Insurance Market | Results and Prospects
such as this, in which assets and attributes that were not priced in the past (such as peace and water) become extremely valuable, incredible opportunities to create wealth arise. Yet, who will be able to identify them in time? And shape them as something to be supplied? And bring them to the market at a competitive price? Therefore, if the essence of the business becomes to succeed by selling security, peace and compensation, even if based on assumptions, probabilities and mathematical/ statistical models, no one better than insurance companies themselves to be their own eternal guinea pig. But which insurance company really understands this? Be it as it may, welcome all to the age of it “we are all insecure forever.”
Daniel Domeneghetti CEO of DOM Strategy Partners
Article on the Current Scenario
12 Summary
Brazilian Insurance O Setor Sector Entities Aquaepe non ex et doluptatibus repudae cupta atiumquia qui con hillabore erferspernam volorio. Thenobitatia agencies veliquam in charge of seeing that the sectornimustio runs wellaut areopta regulatory, surveillance, institutional representation and educational entities.
National Private Insurance System | SNSP Is formed by agencies and companies who work in the market of insurance, premium bonds and complementary open private retirement pension to create an environment for the development of private insurances policies and to legislate on their standards and oversee their operations. Its composition is as follows:
CNSP National Private Insurance Council
Is the SNSP regulatory agency, responsible for the setting of the guidelines and private insurance policy standards.
Susep Superintendence of Private Insurance
Is an autonomous government agency of the Ministry of Finance. It is responsible for regulating guidelines and standards set by the CNSP and for overseeing companies in the insurance market, complementary open pension, premium bonds and reinsurance, as well as reinsurance and insurance brokers.
CRSNSP Council of Appeals of the National System of Private Insurance, Open Private Pension and Premium Bonds
Brazilian Insurance Market | Results and Prospects
Is a joint committee under the aegis of the Ministry of Finance whose purpose is to act as administrative court of last resort for appeals made to rulings rendered by SUSEP.
Brazilian Insurance Sector Entities
14 Summary
The Structure of the Supplementary Health System Is similar to that of insurance, as can be seen below:
Consu Council of Supplementary Health
Is a joint committee that is part of the framework of internal rules of the Ministry of Health, and is competent to: set and supervise the implementation of policies and general guidelines of the sector of Supplementary Health; set general guidelines for implementation in the sector of Supplementary Health; deliberate on the creation of technical advisory chambers in order to provide input for decisions.
ANS National Agency of Supplementary Health
Brazilian Insurance Market | Results and Prospects
Is a regulatory agency linked to the Ministry of Health whose duty is to defend public interest in supplementary health, regulate and oversee insurance companies that specialize in health, group medical practice, group dental care, self-management, physician cooperatives, dental cooperative, administrators and philanthropic entities, and also intervene in the relationships between service providers and consumers.
Brazilian Insurance Sector Entities
15 Summary
The Main Bodies of Insurance Market The main bodies of institutional representation and education in the insurance market are:
CNseg National Confederation of General Insurance Companies, Private Pension and Life, Supplementary Health and Premium Bonds
CNseg is the highest governing body in the Brazilian Insurance Market, present across the whole country. It is composed by four associative federations that represent the companies that are part of the segments of General insurance, Private Pension and Life, Supplementary Health and Premium Bonds.
Fenaseg National Federation of Premium Bonds and Private Insurance Companies
Brazilian Insurance Market | Results and Prospects
An entity linked to the National Confederation of Financial Institutions - CONSIF, a union representation entity that brings under the same umbrella the regional unions of private insurance companies in the states of Bahia (Sergipe/Tocantins), Minas Gerais, Pernambuco (Northeast North), Paraná, Rio de Janeiro (Espírito Santo), Rio Grande do Sul, Santa Catarina and São Paulo, in addition to the National Union of Open Supplementary Pension Entities.
Brazilian Insurance Sector Entities
16 Summary
The Main Bodies of Insurance Market Continuation
ENS National School of Insurance
An institution whose mission is to spread education, research and knowledge in insurance, as well as see to the needs of the Brazilian professionals through ongoing education, helping them to face a strongly competitive market.
Fenacor National Federation of Private Insurance and Reinsurance Brokers, Premium Bonds, Open Private Pension and Insurance and Reinsurance Brokerage Companies
A higher level trade union that represents in and out of court the affiliated unions and regional labor precincts in order to protect and safeguard the interests of the economic category it represents before private entities and public authorities.
Fenaber National Federation of Reinsurance Companies
Brazilian Insurance Market | Results and Prospects
A non-profit civil associative federation that brings together and represents reinsurance companies that operate in Brazil.
Brazilian Insurance Sector Entities
17 Summary
The Brazilian Insurance Market in numbers In a year in which most economic activities yielded to the crisis, the insurance sector showed resilience and helped other markets mitigate their difficulties.
A
fter more than a decade of controlled inflation, acceptable interest rates, almost full employment rates, growing investments in several sectors, an abrupt change of direction was made to these important indicators, forcing all players to make major adjustments in order to adapt to the erosion of economic and ethical pillars. Although it was affected by the slowdown in premiums, the insurance market proved to be more resistant to the crisis, especially when compared to other strategic sectors of the economy, such as the oil and gas industry, civil construction and infrastructure, and was one of the few sectors capable of closing off the year with positive growth. Market revenue ratified consumers’ trust and showcased its role of promotion of the other economic activities and its leading role in social protection. As a reSoutht, revenue was a total of BRL 365 billion in 2015, which corresponded to a nominal growth of 11% compared to 2014. Transfers to society, for payment of indemnities, benefits, redemptions and premiums bonds, and claims covered by insurance in
Brazilian Insurance Market | Results and Prospects
Supplementary Health increased significantly in 2015, amounting to BRL 235 billion and corresponding to a steady two-digit growth of precisely 13%. In 2014, the consolidated market spent BRL 207 billion, 12% more than on the preceding tax year. It is worth remembering that the delivery of a service or product represents one of the most important stages of any economic activity. The more so if this delivery takes place at a moment of helplessness, insecurity or vulnerability on the part of customers, as is often the case in the Insurance market. This can strengthen the relationship of trust the company and its customers, secure the loyalty of policyholders and ratify the role of the market as a pillar of economic and social development in the Country. The billionaire amount paid by the market in a very complex macroeconomic environment is well worth mentioning. Quite certainly, these cash transfers made by the market to policyholders helped mitigate the severe effects of the crisis, preserve the sustainability of businesses, the quality of life and the well-being of the insured population. To summarize, the insurance sector continues to be that pillar that protects other economic activities from hardship and millions of insured policyholders from misfortune.
The billionaire amount paid by the market in a very complex macroeconomic environment is well worth mentioning. To summarize, the insurance sector continues to be that pillar that protects other economic activities from hardship and millions of insured policyholders from misfortune.
The Brazilian Insurance Market in Numbers
19 Summary
Performance per segment In General Insurance, companies affiliated with FenSeg paid nearly BRL 38 billion for claims that took place in 2015. This amount represented a nominal increase of 11% in comparison with the total amount of the previous year. In the Open Private Pension and Life segment, the companies affiliated with FenaPrevi transferred back nearly BRL 57 billion in redemptions and benefits, more than 13% compared to the previous year. In Supplementary Health, insurance companies paid expenditures of the order of BRL 122 billion, an increase of almost 13% compared to the previous year. In Premium Bonds, companies affiliated with FenaCap paid more than BRL 18 billion in redemption of premium saving bonds, 13% more than in 2014. In addition to benefits and indemnities paid on time, there is another significant aspect of the insurance market that is little known to society and governments: its role as a major institutional investor. In this sense, it is worth noting that the provisions of the insurance market have reached BRL 687 billion in 2015, an increase of approximately 19% over the BRL 579 billion of 2014. Per modality, insurance companies find themselves in a leadership position with BRL 625 billion in funds used to pay for claims. This 2015 sum represented
Brazilian Insurance Market | Results and Prospects
a 20% increase in comparison with 2014. Premium Bonds companies come second with BRL 31 billion in provisions and an increase of almost 4% compared with the previous tax year. Health insurance companies invested BRL 29 billion in 2015, close to 4% more than what was set aside in 2014. In turn, open private pension entities invested BRL 2 billion, a 300% increase compared with the preceding year.
Claims, redemptions and benefits BRL$38 billion BRL$57 billion
General Insurance
Private Pension
BRL$122 billion
Supplementary Health
BRL$18 billion Premium Bonds
The Brazilian Insurance Market in Numbers
20 Summary
Statistics CNseg
FenSeg
FenaPrevi
FenaSaúde
FenaCap
insurer market
general insurance
private pension and life
Supplementary Healthcare
premium bonds
Revenue and GDP Revenue distribution Per capita Revenue per Line of Business group Per capita Revenue per Line of Business group Claims, Indemnities, Drawings, Redemption and Benefits Expenses Taxes Collected Assets, Provisions and Net Equity
Revenue, GDP and Inflation Revenue per Line of Business group Revenue Distribution per Line of Business group Revenue Distribution per Geographic Region Reinsurance Premium Coinsurance Premium Car Insurance Housing Mortgage Insurance Property Insurance Extended Warranty Compulsory Vehicle Liability Insurance (Compulsory Vehicle Liability Insurance Certificate) Transport Insurance Credit Insurance and Surety Bonds Rural Insurance Insurance Civil Liability Air and Marine Cargo Insurance Claims Claims per Line of Business group Claim Distribution per Line of Business group Claims per Region Recovery of Indemnity paid in Reinsurance Coinsurance Claims Salvage Recovery Trading Expenses Development
insurance
Certificate Numbers Technical Provisions Portability Redemption Modes Revenue Provision Distribution Revenue Distribution Claims Benefits Paid
Revenue, GDP and Inflation Affiliated Companies’ Revenue per Modality Healthcare expenses Affiliated companies´ Healthcare Assistance Combined Index Loss Ratio Beneficiaries per Modality Beneficiaries per Region Distribution of Beneficiaries Beneficiaries per Age Group Beneficiaries‘ Age Pyramid per Type of Plan
Revenue, GDP and Inflation Revenue per Region Drawings, Redemption and Expenses
CNseg
Revenue and GDP Insurance Market Revenue to GDP In BRL$ billion and % Share Revenue 2011
2012
2013
2014
2015
% change 2015/2014
Car
21,34
24,75
0,16
31,43
32,53
3,5%
52,4%
Compulsory Vehicle Liability Insurance
6,66
7,22
0,08
8,46
8,62
1,9%
29,5%
Compulsory Vehicle Liability Insurance
6,95
7,21
0,04
9,15
9,90
8,2%
42,4%
Housing Mortgage Insurance
1,40
1,77
0,26
2,64
3,11
17,6%
121,4%
Transportation Insurance
2,26
2,30
0,02
2,50
2,51
0,5%
11,0%
Credit Insurance and Surety Bond
1,46
1,59
1,99
2,23
2,73
22,3%
87,1%
Extended Warranty
2,26
2,61
2,90
3,12
2,85
-8,7%
26,4%
Civil Liability Insurance
0,93
1,04
1,22
1,29
1,52
17,7%
63,9%
Rural Insurance Insurance
1,23
1,47
2,29
2,89
3,27
13,0%
164,9%
Air and Marine Cargo Insurance
0,59
0,60
0,68
0,76
0,81
6,1%
36,3%
Others
0,55
0,77
1,10
0,83
0,92
10,0%
66,9%
45,63
51,35
60,52
65,31
68,77
5,3%
50,7%
Group Insurance
16,90
19,00
22,17
23,45
24,59
4,9%
45,5%
Individual Insurance
2,15
2,86
3,57
4,21
5,18
23,0%
140,3%
Traditional Risk Plans
2,29
2,49
2,86
3,08
3,03
-1,7%
32,4%
VGBL family of products
43,39
59,57
62,26
71,39
86,15
20,7%
98,5%
PGBL family of products
7,01
7,53
7,92
8,38
9,00
7,4%
28,3%
Traditional Accrual Plans
1,04
1,01
0,92
0,87
0,85
-2,0%
-18,0%
Personal Lines of Business/Universal Life
72,78
92,46
99,70
111,38
128,79
15,6%
77,0%
Premium Bonds
14,10
16,59
20,97
21,87
21,51
-1,7%
52,5%
Medical Insurance
82,78
94,38
107,38
124,96
141,92
13,6%
71,4%
Medical Insurance
2,53
2,95
3,19
3,52
4,00
13,6%
57,7%
Supplementary Health
85,30
97,23
110,58
128,48
145,91
13,6%
71,1%
Insurance Market
217,81
257,62
291,77
327,04
364,98
11,6%
67,6%
GDP
4.373,7
4.805,9
5.316,5
5.687,3
5.904,3
3,8%
35,0%
Penetration rate to the GDP
4,98%
5,36%
5,49%
5,75%
6,18%
0,43 p.p.
1,20 p.p.
Property and Casualty Insurance
Property and Casualty Insurance Risk Plans Personal Lines of Business/ Universal Life Accrual Plans
Supplementary Health
Sources: DIOPS (ANS) - Data extracted on 05/05/2016 SES (SUSEP) - Data extracted on 09/05/2016 SIDRA (IBGE) - Data extracted on 01/04/2016
Brazilian Insurance Market | Results and Prospects
Note:
% change 2015/2011
1) Amounts that refer to endowment lines were added to risk plans, although they display mixed features of risk and accrual. 2) For methodological purposes, the amounts herein presented are different from those released by ANS and FenaSaúde. 3) The amount released for the Supplementary Healthcare market was estimated by account 311 (Net consideration – Retained Premiums).
Statistics
22 Summary
CNseg
Revenue Distribution per segment in %
6,4%
6,5%
23,6%
2011 9,8%
39,2%
7,2%
26,4%
2012
37,7%
2013
37,9%
9,8%
9,4% 20,9%
24,4%
6,7%
19,9%
Property and Casualty
Personal Lines of Business: accrual plans
Sources: DIOPS (ANS) - Data extracted on 05/05/2016 SES (SUSEP) - Data extracted on 09/05/2016 SIDRA (IBGE) - Data extracted on 01/04/2016
Brazilian Insurance Market | Results and Prospects
Note:
2014
39,3%
9,4% 20,7%
Supplementary Health
24,7%
5,9%
26,3%
2015
40,0%
9,0% 20,0%
18,8%
Personal Lines of Business: risk plans Premium Bonds
1) Amounts that refer to endowment endowment lines were added to risk plans, although they display mixed features of risk and accrual. 2) For methodological purposes, the amounts herein presented are different from those released by ANS and FenaSaúde. 3) The amount released for the Supplementary Healthcare market was estimated by account 311 (Net consideration – Retained Premiums).
Statistics
23 Summary
CNseg
Revenue and Inflation | Per capita Revenue per Line of Business group Extended Consumer Price Index, Insurance Market Revenue and GDP- Real and Nominal In BRL$ Billion and % change 2011
2012
2013
2014
2015
Property and Casualty
45,63
51,35
60,52
65,31
Personal Lines of Business
72,78
92,46
99,70
Premium Bonds
14,10
16,59
Supplementary Health
85,30
Insurance Market
% change 2015/2014
% change 2015/2011
Nominal
Real
68,77
5,3%
-4,9%
50,7%
111,38
128,79
15,6%
4,5%
77,0%
20,97
21,87
21,51
-1,7%
-11,1%
52,5%
97,23
110,58
128,48
145,91
13,6%
2,6%
71,1%
217,81
257,62
291,77
327,04
364,98
11,6%
0,8%
67,6%
GDP
4.373,7
4.805,9
5.316,5
5.687,3
5.904,3
3,8%
-6,2%
35,0%
Extended Consumer Price Index
6,50%
5,84%
5,91%
6,41%
10,67%
--
--
--
Sources: DIOPS (ANS) - Data extracted on 05/05/2016 SES (SUSEP) - Data extracted on 09/05/2016 SIDRA (IBGE) - Data extracted on 01/04/2016
Note:
1) For methodological purposes, the amounts herein presented are different from those released by ANS and FenaSaúde. 2) The amount released for the Supplementary Healthcare market was estimated by account 311 (Net consideration – Retained Premiums).
Insurance Market Revenue per capita per segment In BRL$ and % change 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
Property and Casualty
230,27
256,75
299,99
320,99
335,23
4,2%
45,6%
Personal Lines of Business: risk plans
107,69
121,72
141,74
151,07
159,87
5,5%
48,5%
Personal Lines of Business: accrual plans
259,60
340,60
352,40
396,32
467,98
15,3%
80,3%
Premium Bonds
71,16
82,96
103,96
107,50
104,86
-2,5%
47,4%
Supplementary Health
430,43
486,16
548,08
631,42
711,31
11,2%
65,3%
1.099,14
1.288,18
1.446,17
1.607,30
1.779,26
9,7%
61,9%
Insurance Market Sources: DIOPS (ANS) - Data extracted on 05/05/2016 SES (SUSEP) - Data extracted on 09/05/2016 SIDRA (IBGE) - Data extracted on 01/04/2016
Brazilian Insurance Market | Results and Prospects
Note:
1) Amounts that refer to endowment endowment lines were added to risk plans, although they display mixed features of risk and accrual. 2) For methodological purposes, the amounts herein presented are different from those released by ANS and FenaSaúde. 3) The amount released for the Supplementary Healthcare market was estimated by account 311 (Net consideration – Retained Premiums).
Statistics
24 Summary
CNseg
Revenue Distribution per Region Insurance Market revenue per region In BRL$ billion and % of change 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
North
2,88
3,43
3,84
4,09
4,62
12,7%
60,2%
Northeast
11,91
15,74
17,87
19,64
24,02
22,4%
101,7%
Midwest
8,59
10,50
12,17
14,06
15,88
13,0%
85,0%
Southeast
85,15
104,83
117,26
128,10
138,60
8,2%
62,8%
South
20,85
25,73
29,96
32,62
35,94
10,2%
72,4%
132,52
160,39
181,19
198,56
219,07
10,3%
65,3%
Brazil Source: SES (SUSEP) - Data extracted on 09/05/2016
Southeast
63,3%
Source:
Note:
South
Northeast
16,4%
SES (SUSEP) - Data extracted on 15/02/2016
Brazilian Insurance Market | Results and Prospects
1) The Supplementary Healthcare segment is not addressed by this table, since data for this segment are not available per state. 2) Policies that do not bear any datum in the “state” field or registered overseas were not reallocated to any specific geographical region, although they are comprised by “Brazil.”
11,0%
Note:
Midwest
7,3%
North
2,1%
1) The Supplementary Healthcare segment is not addressed by this table, since data for this segment are not available per state. 2) Policies that do not bear any datum in the “state” field or registered overseas were not reallocated to any specific geographical region, although they are comprised by “Brazil.”
Statistics
25 Summary
CNseg
Claims, Indemnities, Drawings, Redemption and Benefits Claims incurred, claims settled, prize draws, redemptions and benefits per segment of the Insurance Market In BRL$ billion and % change 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
Property and Casualty
23,41
27,47
30,32
34,12
37,89
11,1%
61,8%
Personal Lines of Business
30,42
35,53
48,34
49,97
56,69
13,5%
86,4%
Premium Bonds
9,86
11,45
14,10
16,33
18,42
12,8%
86,8%
Supplementary Health
68,91
80,01
91,55
106,97
121,51
13,6%
76,3%
132,61
154,46
184,31
207,39
234,51
13,1%
76,8%
Insurance Market
Sources: DIOPS (ANS) - Data extracted on 05/05/2016 SES (SUSEP) - Data extracted on 09/05/2016
Brazilian Insurance Market | Results and Prospects
Note:
This table addresses bond redemption that was, in most cases, paid for by the company as a reSoutht of contract expiration and/or individual coverage plan redemption which represent either partial or total breach in contract coverage.
Statistics
26 Summary
CNseg
Expenses Insurance Market Expenses per type of company In BRL$ billion and % change 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
Premium Bonds
1,11
1,29
1,44
1,47
1,59
8,3%
43,4%
Supplementary Pension Organizations
0,01
0,01
0,02
0,04
0,06
47,3%
533,4%
Insurer
12,41
14,64
16,86
20,12
22,37
11,2%
80,3%
Supplementary Health
2,75
3,15
3,60
4,20
4,97
18,3%
80,6%
16,27
19,10
21,92
25,82
28,99
12,3%
78,1%
2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
Premium Bonds
0,98
0,99
0,90
1,23
1,32
7,4%
35,3%
Supplementary Pension Organizations
0,01
0,01
0,02
0,02
-0,02
-202,9%
-257,3%
Insurer
6,27
7,09
7,36
10,11
11,18
10,6%
78,4%
Supplementary Health
1,60
1,63
1,90
2,33
2,63
12,9%
64,4%
Insurance Market
8,86
9,73
10,17
13,69
15,12
10,4%
70,6%
2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
Premium Bonds
0,57
0,58
0,70
0,78
0,81
3,3%
41,6%
Supplementary Pension Organizations
0,10
0,11
0,11
0,11
0,12
6,0%
21,9%
Insurer
9,11
10,10
11,04
12,55
14,01
11,6%
53,7%
Supplementary Health
12,72
13,58
14,24
15,94
17,28
8,4%
35,9%
Insurance Market
22,50
24,38
26,09
29,38
32,22
9,7%
43,2%
Despesa de comercialização
Insurance Market Taxes collected
Administrative expenditure
Sources: DIOPS (ANS) - Data extracted on 05/05/2016 SES (SUSEP) - Data extracted on 09/05/2016
Brazilian Insurance Market | Results and Prospects
Statistics
27 Summary
CNseg
Taxes Collected In %
26,5% 44,3%
2011
25,8% 43,7%
29,3%
2012
27,8% 46,2%
30,5%
Brazilian Insurance Market | Results and Prospects
44,3%
2014
Note:
Other taxes
27,1% 43,0%
2015
28,2%
26,0%
Social Contribution
Sources: DIOPS (ANS) - Data extracted on 05/05/2016 SES (SUSEP) - Data extracted on 09/05/2016
2013
27,5%
29,9%
Income Tax
Other taxes are: IOF, IPVA, IPTU, ITR, ITBI, PIS/PASEP, CONFINS, Inspection Fee / Supplementary Healthcare Fee, etc.
Statistics
28 Summary
CNseg
Assets, Provisions and Net Equity Insurance Market Assets, Provisions and Net Equity per type of company In BRL$ billion and % change 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
Premium Bonds
28,34
31,88
34,53
37,07
37,56
1,3%
32,5%
Supplementary Pension Organizations
1,20
1,20
1,20
1,46
2,89
97,7%
140,7%
409,93
499,60
547,43
637,70
740,62
16,1%
80,7%
67,32
76,15
85,71
94,58
100,08
5,8%
48,7%
506,79
608,83
668,86
770,81
881,17
14,3%
73,9%
2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
Premium Bonds
19,79
22,54
26,77
29,94
31,06
3,7%
57,0%
Supplementary Pension Organizations
0,52
0,51
0,50
0,51
2,08
307,0%
297,6%
Insurer
317,39
391,21
442,64
520,47
624,84
20,1%
96,9%
Supplementary Health
15,25
18,58
24,19
27,91
28,95
3,7%
89,9%
Insurance Market
352,94
432,83
494,11
578,83
686,93
18,7%
94,6%
2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
Premium Bonds
6,32
6,28
5,05
4,01
3,30
-17,6%
-47,8%
Supplementary Pension Organizations
0,55
0,59
0,58
0,81
0,66
-18,8%
19,2%
Insurer
65,84
75,35
72,10
75,58
71,62
-5,2%
8,8%
Supplementary Health
29,12
31,57
34,37
37,86
40,40
6,7%
38,7%
Insurance Market
101,83
113,79
112,10
118,26
115,99
-1,9%
13,9%
Total Investments (Provisions + Net Equity)
454,78
546,63
606,20
697,09
802,92
15,2%
GDP
4.373,7
4.805,9
5.316,5
5.687,3
5.904,3
3,8%
Investment share to GDP
10,40%
11,37%
11,40%
12,26%
13,60%
10,9%
Assets
Insurer Supplementary Health Insurance Market Provisions
Net Equity
Sources: DIOPS (ANS) - Data extracted on 05/05/2016 SES (SUSEP) - Data extracted on 09/05/2016 SIDRA (IBGE) - Data extracted on 01/04/2016
Brazilian Insurance Market | Results and Prospects
Statistics
29 Summary
FenSeg
Revenue, GNP and Inflation Property and Casualty revenue and penetration to GDP per type of plan - Nominal and Real In BRL$ billion and % change 2011 Property and Casualty
2012
2013
2014
2015
% change 2015/2014 Nominal
Real
% change 2015/2011
45,63
51,35
60,52
65,31
68,77
5,3%
-4,9%
50,7%
4.373,66
4.805,91
5.316,46
5.687,31
5.929,75
4,3%
-5,8%
35,6%
Sector´s penetration to GDP
1,04%
1,07%
1,14%
1,15%
1,16%
0,01 p.p.
–
0,12 p.p.
Extended Consumer Price Index
6,50%
5,84%
5,91%
6,41%
10,67%
–
–
–
GDP
Sources: SES (SUSEP) - Data extracted on 07/03/2016
IBGE - Data extracted on 29/01/2016
Revenue from Property and Casualty Insurance In BRL$ billlion
2011 2012 2013 2014 2015
45,6 bi 51,3 bi 60,5 bi 65,3 bi 68,8 bi
Sources: SES (SUSEP) - Data extracted on 07/03/2016
IBGE - Data extracted on 29/01/2016
Brazilian Insurance Market | Results and Prospects
Statistics
30 Summary
FenSeg
Revenue per Line of Business Property and Casualty per line group In BRL$ million and % change Direct Premium
% change 2015/2014
% change 2015/2011
2011
2012
2013
2014
2015
21.338,47
24.747,90
29.264,31
31.426,32
32.529,73
3,5%
52,4%
Compulsory Vehicle Liability Insurance
6.657,43
7.220,65
8.031,53
8.462,90
8.622,03
1,9%
29,5%
Property Insurance
6.952,36
7.213,11
8.397,98
9.149,08
9.902,30
8,2%
42,4%
Housing Mortgage Insurance
1.402,54
1.770,26
2.177,97
2.641,05
3.105,01
17,6%
121,4%
Transportation insurance
2.258,91
2.298,72
2.467,83
2.495,46
2.507,72
0,5%
11,0%
Credit Insurance and Surety Bonds
1.459,30
1.592,08
1.991,77
2.232,71
2.730,53
22,3%
87,1%
Extended Warranty
2.255,35
2.610,02
2.901,52
3.123,23
2.850,96
-8,7%
26,4%
927,26
1.043,63
1.217,57
1.290,55
1.519,33
17,7%
63,9%
1.234,94
1.474,66
2.285,72
2.893,92
3.271,43
13,0%
164,9%
Air and Marine Cargo Insurance
593,94
602,40
683,48
763,03
809,42
6,1%
36,3%
Others
550,20
772,68
1.104,55
834,33
918,06
10,0%
66,9%
45.630,7
51.346,1
60.524,2
65.312,6
68.766,5
5,3%
50,7%
Car
Civil Liability Insurance Rural Insurance
Property and Casualty
Sources: SES (SUSEP) - Data extracted on 07/03/201 % change 2015/2014 IBGE - Data extracted on 29/01/2016
Brazilian Insurance Market | Results and Prospects
Statistics
31 Summary
FenSeg
Revenue Distribution per Line of Business group Claim distribution per line group in 2015 In %
1,3% 1,2%
Car Insurance
2,2% 3,6%
Property Insurance
4,0%
DPVAT (Compulsory Vehicle Liability Insurance Certificate)
4,1%
Rural Insurance Insurance
4,5%
Housing Mortgage Insurance
4,8% 47,3% 12,5%
Extended Warranty Credit Insurance and Surety Bonds Transport Insurance
14,4%
Civil Liability Air and Marine Cargo Insurance Other
Sources: SES (SUSEP) - Data extracted on 07/03/2016 IBGE - Data extracted on 29/01/2016
Brazilian Insurance Market | Results and Prospects
Statistics
32 Summary
FenSeg
Revenue Distribution per Region Property and Casualty Revenue per Region and per line group In BRL$ million and % change Direct Premium
Northeast
% change 2015/2011
2011
2012
2013
2014
2015
Car
2.261,25
2.452,18
3.062,57
3.401,04
3.980,06
17,0%
76,0%
Compulsory Vehicle Liability Insurance
1.042,07
1.265,73
1.419,51
1.482,77
1.567,09
5,7%
50,4%
Property Insurance
392,59
452,71
601,67
481,68
568,28
18,0%
44,8%
Housing Mortgage Insurance
129,83
162,67
201,17
245,09
295,45
20,6%
127,6%
Transportation insurance
57,90
74,98
79,55
65,47
273,09
317,2%
371,7%
Credit Insurance and Surety Bonds
80,28
96,71
102,16
107,56
161,64
50,3%
101,3%
185,62
226,04
304,29
241,91
196,54
-18,8%
5,9%
Civil Liability Insurance
27,21
36,81
45,71
32,19
62,33
93,6%
129,1%
Rural Insurance
52,46
58,14
107,38
149,97
208,47
39,0%
297,4%
Air and Marine Cargo Insurance
19,73
25,35
25,56
23,29
49,34
111,8%
150,1%
Others
20,03
33,47
46,38
27,16
41,92
54,3%
109,3%
4.269,0
4.884,8
5.996,0
6.258,1
7.404,2
18,3%
73,4%
12.789,95
15.443,52
17.684,32
18.910,78
18.662,17
-1,3%
45,9%
Compulsory Vehicle Liability Insurance
3.260,69
3.333,97
3.742,37
4.011,17
4.094,41
2,1%
25,6%
Property Insurance
5.161,41
5.222,97
5.998,66
6.760,90
7.029,35
4,0%
36,2%
921,17
1.113,59
1.386,62
1.704,54
2.024,74
18,8%
119,8%
Transportation insurance
1.685,62
1.701,07
1.759,75
1.826,22
1.624,01
-11,1%
-3,7%
Credit Insurance and Surety Bonds
1.125,20
1.225,96
1.559,44
1.764,01
2.144,03
21,5%
90,5%
Extended Warranty
1.747,32
2.093,42
2.290,87
2.582,97
2.294,12
-11,2%
31,3%
Civil Liability Insurance
783,44
881,13
1.016,92
1.095,18
1.249,35
14,1%
59,5%
Rural Insurance
361,33
453,44
847,62
1.046,80
893,55
-14,6%
147,3%
Air and Marine Cargo Insurance
413,22
441,55
589,00
677,41
659,32
-2,7%
59,6%
Others
448,45
626,43
919,11
713,52
749,55
5,1%
67,1%
28.697,8
32.537,0
37.794,7
41.093,5
41.424,6
0,8%
44,3%
Extended Warranty
Total in the Northeastern region Car
Housing Mortgage Insurance
Southeast
% change 2015/2014
Total in the Southeastern region
Brazilian Insurance Market | Results and Prospects
Statistics
33 Summary
FenSeg
Revenue Distribution per Region Continuação
Property and Casualty Revenue per Region and per line group In BRL$ million and % change Direct Premium 2012
2013
2014
2015
1.867,11
1.759,09
2.232,35
2.492,98
2.645,24
6,1%
41,7%
Compulsory Vehicle Liability Insurance
641,27
716,48
766,10
781,41
792,30
1,4%
23,6%
Property Insurance
310,20
356,10
405,76
480,29
500,82
4,3%
61,5%
Housing Mortgage Insurance
126,43
218,68
244,03
268,39
283,80
5,7%
124,5%
Transportation insurance
26,58
31,40
50,91
50,17
58,24
16,1%
119,1%
Credit Insurance and Surety Bonds
97,80
112,81
116,41
129,56
157,57
21,6%
61,1%
Extended Warranty
96,38
102,42
74,53
79,21
84,35
6,5%
-12,5%
Civil Liability Insurance
23,30
29,34
37,80
35,90
46,77
30,3%
100,7%
220,54
256,07
444,25
508,91
642,92
26,3%
191,5%
7,27
18,44
12,90
15,43
25,28
63,8%
247,9%
10,74
25,78
29,24
20,48
24,31
18,7%
126,3%
3.427,6
3.626,6
4.414,3
4.862,7
5.261,6
8,2%
53,5%
Car
442,02
475,90
611,10
652,82
727,88
11,5%
64,7%
Compulsory Vehicle Liability Insurance
310,17
427,20
446,16
468,39
477,43
1,9%
53,9%
Property Insurance
126,13
135,37
153,47
165,08
217,24
31,6%
72,2%
Housing Mortgage Insurance
25,15
30,48
39,94
48,81
58,65
20,2%
133,2%
Transportation insurance
40,36
31,67
44,13
40,05
41,53
3,7%
2,9%
Credit Insurance and Surety Bonds
12,27
12,01
15,26
21,00
32,07
52,7%
161,3%
Extended Warranty
25,98
38,61
43,53
14,88
26,36
77,2%
1,4%
7,38
6,12
7,52
8,26
15,71
90,1%
112,7%
15,74
21,67
42,80
65,89
108,61
64,8%
589,9%
Air and Marine Cargo Insurance
4,72
5,52
5,68
7,66
13,70
78,8%
190,0%
Others
5,97
11,04
14,21
9,31
12,24
31,4%
105,2%
1.015,9
1.195,6
1.423,8
1.502,2
1.731,4
15,3%
70,4%
Rural Insurance Air and Marine Cargo Insurance Others Total in the midwestern region
North
% change 2015/2011
2011 Car
Midwest
% change 2015/2014
Civil Liability Insurance Rural Insurance
Total in the northern region
Brazilian Insurance Market | Results and Prospects
Statistics
34 Summary
FenSeg
Revenue Distribution per Region Continuação
Property and Casualty Revenue per region and per line group In BRL$ million and % change Direct Premium
South
% change 2015/2014
% change 2015/2011
2011
2012
2013
2014
2015
Car
3.978,14
4.615,72
5.673,96
5.968,70
6.514,37
9,1%
63,8%
Compulsory Vehicle Liability Insurance
1.403,23
1.477,27
1.657,40
1.717,32
1.690,80
-1,5%
20,5%
Property Insurance
940,84
1.045,95
1.238,42
1.261,05
1.586,62
25,8%
68,6%
Housing Mortgage Insurance
199,95
244,84
306,21
374,22
442,37
18,2%
121,2%
Transportation insurance
394,96
459,60
533,49
513,55
510,86
-0,5%
29,3%
Credit Insurance and Surety Bonds
106,06
137,51
185,51
210,58
235,23
11,7%
121,8%
Extended Warranty
199,89
149,53
188,30
204,23
249,59
22,2%
24,9%
82,89
89,09
109,35
119,01
145,17
22,0%
75,1%
585,57
685,33
843,66
1.121,75
1.417,88
26,4%
142,1%
Air and Marine Cargo Insurance
22,51
39,42
38,22
39,24
61,78
57,5%
174,5%
Others
64,74
75,96
95,61
63,86
90,03
41,0%
39,1%
7.978,8
9.020,2
10.870,1
11.593,5
12.944,7
11,7%
62,2%
45.630,7
51.346,1
60.524,2
65.312,6
68.766,5
5,3%
50,7%
Civil Liability Insurance Rural Insurance
Total in the southern region Brazil Sources: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Note:
Amounts not listed in specific geographic regions and overseas come under “Other”, once they do not stand for significant figures.
Statistics
35 Summary
FenSeg
Reinsurance Premium Premium assigned to reinsurance per line group In BRL$ million and % change Reinsurance premium 2011 Car
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
199,43
97,88
289,96
370,32
348,97
-5,8%
75,0%
0,00
0,00
0,00
0,00
0,00
100,0%
-
2.849,26
2.873,27
3.256,59
3.029,84
3.065,51
1,2%
7,6%
71,29
68,67
116,67
108,96
97,83
-10,2%
37,2%
Transportation insurance
443,27
538,76
588,94
595,70
579,92
-2,6%
30,8%
Credit Insurance and Surety Bonds
825,06
758,02
921,20
794,55
979,93
23,3%
18,8%
0,00
0,25
-2,10
0,00
0,00
135,8%
-96,6%
Civil Liability Insurance
484,77
581,96
569,14
521,59
628,84
20,6%
29,7%
Rural Insurance
475,38
544,79
823,50
935,47
1.006,80
7,6%
111,8%
Air and Marine Cargo Insurance
491,01
533,04
430,69
497,27
588,88
18,4%
19,9%
Others
423,84
527,38
809,95
645,90
637,96
-1,2%
50,5%
6.263,32
6.524,01
7.804,54
7.499,58
7.934,63
5,8%
26,7%
Compulsory Vehicle Liability Insurance Property Insurance Housing Mortgage Insurance
Extended Warranty
Property and Casualty Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Statistics
36 Summary
FenSeg
Coinsurance Premium Coinsurance premiums accepted and assigned per line group In BRL$ million and % change Accepted coinsurance premium 2011
2012
2013
2014
2015
Car
89,06
54,09
66,12
80,77
96,83
Compulsory Vehicle Liability Insurance
11,58
0,00
0,00
0,00
0,00
Property Insurance
800,24
822,60
864,80
907,95
770,48
Housing Mortgage Insurance
39,83
47,23
53,49
46,00
Transportation insurance
79,09
109,78
123,20
120,86
95,93
Extended Warranty
23,98
Civil Liability Insurance
% change % change 2015/2014 2015/2011
Assigned coinsurance premium
% change % change 2015/2014 2015/2011
2011
2012
2013
2014
2015
8,7%
87,63
54,47
66,62
81,39
95,87
-100,0%
0,00
0,00
0,00
0,00
0,00
-15,1%
-3,7%
752,92
697,88
855,75
957,56
858,88
-10,3%
14,1%
1,18
-97,4%
-97,0%
40,34
46,93
59,86
46,10
1,23
-97,3%
-96,9%
119,91
131,18
9,4%
65,9%
79,52
111,34
122,41
129,26
122,43
-5,3%
54,0%
146,92
213,20
232,38
9,0%
92,3%
135,95
126,11
166,21
203,23
268,87
32,3%
97,8%
186,84
338,34
368,47
345,74
-6,2%
1.341,9%
27,71
223,99
384,84
394,38
382,62
-3,0%
1.280,9%
61,30
73,71
82,86
99,86
121,27
21,4%
97,9%
70,31
77,06
80,64
101,62
161,91
59,3%
130,3%
0,47
7,45
4,61
5,10
8,10
58,8%
1.618,1%
0,58
7,88
5,79
4,64
8,54
84,1%
1.371,9%
Air and Marine Cargo Insurance
79,85
46,44
52,92
65,93
80,86
22,7%
1,3%
89,77
37,02
49,95
73,19
72,97
-0,3%
-18,7%
Others
88,01
138,24
46,84
157,38
158,42
0,7%
80,0%
74,66
75,48
45,19
193,42
111,24
-42,5%
49,0%
1.394,26
1.582,31
1.780,10
2.064,56
1.946,44
-5,7%
39,6%
1.359,39
1.458,17
1.837,25
2.184,79
2.084,56
-4,6%
53,3%
Credit Insurance and Surety Bonds
Rural Insurance
Property and Casualty
19,9% -
17,8% -
9,4% -
Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Statistics
37 Summary
FenSeg
Car Insurance | Housing Mortgage Insurance Premium and percentage of main lines of business - Car Insurance In BRL$ million and % change Direct Premium
% change % change 2015/2014 2015/2011
2011
2012
2013
2014
2015
15.019,68
17.407,68
20.547,70
21.875,79
22.692,77
3,7%
Voluntary Liability Car Insurance
4.726,80
5.528,74
6.608,43
7.057,33
7.120,38
Car - Care and additional Coverage Options
1.167,13
1.314,01
1.528,06
1.903,05
Dirver and Passenger Personal Accident Insurance
358,28
417,98
486,96
57,68
54,50
8,91
Car Property and Casualty
Car - Casco Insurance
% share in Property and Casualty 2011
2012
2013
2014
2015
51,1%
32,9%
33,9%
33,9%
33,5%
33,0%
0,9%
50,6%
10,4%
10,8%
10,9%
10,8%
10,4%
2.101,14
10,4%
80,0%
2,6%
2,6%
2,5%
2,9%
3,1%
513,37
545,09
6,2%
52,1%
0,8%
0,8%
0,8%
0,8%
0,8%
66,47
53,24
46,10
-13,4%
-20,1%
0,1%
0,1%
0,1%
0,1%
0,1%
24,99
26,69
23,54
24,26
3,0%
172,4%
0,0%
0,0%
0,0%
0,0%
0,0%
21.338,47
24.747,90
29.264,31
31.426,32
32.529,73
3,5%
52,4%
46,8%
48,2%
48,4%
48,1%
47,3%
45.630,70
51.346,11
60.524,22
65.312,57
68.766,52
5,3%
50,7%
100,0%
100,0%
100,0%
100,0%
100,0%
Car - Extended Warranty Green Card
Source: SES (SUSEP) - Data extracted on 07/03/2016
Premium and percentage of main lines of business - Housing Mortgage Insurance In BRL$ million and % change Direct Premium 2011
2012
2013
2014
2015
% change % change 2015/2014 2015/2011
% share in Property and Casualty 2011
2012
2013
2014
2015
Housing Ins. in Market policy - PR
425,25
785,55
1.172,44
1.611,11
2.019,13
25,3%
374,8%
0,9%
1,5%
1,9%
2,5%
2,9%
Housing Ins. in Market policy - DEM
142,45
258,74
393,94
527,41
659,16
25,0%
362,7%
0,3%
0,5%
0,7%
0,8%
1,0%
Housing Ins. - Non Nation.Housing Syst.
834,84
725,97
611,59
509,67
426,71
-16,3%
-48,9%
1,8%
1,4%
1,0%
0,8%
0,6%
0,00
0,00
0,00
-7,14
0,00
100,0%
-
0,0%
0,0%
0,0%
0,0%
0,0%
Housing Mortgage
1.402,54
1.770,26
2.177,97
2.641,05
3.105,01
17,6%
121,4%
3,1%
3,4%
3,6%
4,0%
4,5%
Property and Casualty
45.630,70
51.346,11
60.524,22
65.312,57
68.766,52
5,3%
50,7%
100,0%
100,0%
100,0%
100,0%
100,0%
Housing Ins. - Nation. Housing Syst.
Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Note:
The item “Other Lines of business� encompasses the other lines of business that go into Property Insurance yet do not stand for significant figures.
Statistics
38 Summary
FenSeg
Property Insurance | Extended Warranty Premium and percentage of main lines of business - Property Insurance In BRL$ million and % change Direct Premium
% change % change 2015/2014 2015/2011
2011
2012
2013
2014
2015
Specified and All Risks
1.539,89
1.659,52
1.930,66
2.302,97
2.598,47
12,8%
Homeowners
1.443,48
1.658,96
2.037,42
2.249,70
2.400,15
Commercial Multiple Peril
1.588,34
1.742,10
1.998,59
2.041,69
Multiple Peril
1.128,67
1.160,38
1.262,27
Engineering Risks
933,23
583,88
Other lines of business
318,75
Property Property and Casualty Source:
% share in Property and Casualty 2011
2012
2013
2014
2015
68,7%
3,4%
3,2%
3,2%
3,5%
3,8%
6,7%
66,3%
3,2%
3,2%
3,4%
3,4%
3,5%
2.073,87
1,6%
30,6%
3,5%
3,4%
3,3%
3,1%
3,0%
1.416,48
1.657,55
17,0%
46,9%
2,5%
2,3%
2,1%
2,2%
2,4%
662,18
577,93
504,05
-12,8%
-46,0%
2,0%
1,1%
1,1%
0,9%
0,7%
408,27
506,85
560,31
668,22
19,3%
109,6%
0,7%
0,8%
0,8%
0,9%
1,0%
6.952,36
7.213,11
8.397,98
9.149,08
9.902,30
8,2%
42,4%
15,2%
14,0%
13,9%
14,0%
14,4%
45.630,70
51.346,11
60.524,22
65.312,57
68.766,52
5,3%
50,7%
100,0%
100,0%
100,0%
100,0%
100,0%
SES (SUSEP) - Data extracted on 07/03/2016
Note: The item “other lines of business� encompasses the other lines that go into Property Insurance yet do not stand f or significant figures.
Premium and percentage of the line of business - Extended Warranty In BRL$ million and % change Direct Premium
Extended Warranty Property and Casualty
% change % change 2015/2014 2015/2011
2011
2012
2013
2014
2015
2.255,35
2.610,02
2.901,52
3.123,23
2.850,96
-8,7%
45.630,70
51.346,11
60.524,22
65.312,57
68.766,52
5,3%
% share in Property and Casualty 2011
2012
2013
2014
2015
26,4%
4,9%
5,1%
4,8%
4,8%
4,1%
50,7%
100,0%
100,0%
100,0%
100,0%
100,0%
Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Statistics
39 Summary
FenSeg
Compulsory Vehicle Liability Insurance (Compulsory Vehicle Liability Insurance Premium and share in the line of business - DPVAT In BRL$ million and % change Direct Premium
Compulsory Vehicle Liability Property and Casualty
% change % change 2015/2014 2015/2011
% share in Property and Casualty
2011
2012
2013
2014
2015
2011
2012
2013
2014
2015
6.657,43
7.220,65
8.031,53
8.462,90
8.622,03
1,9%
29,5%
14,6%
14,1%
13,3%
13,0%
12,5%
45.630,70
51.346,11
60.524,22
65.312,57
68.766,52
5,3%
50,7%
100,0%
100,0%
100,0%
100,0%
100,0%
Source: SES (SUSEP) - Data extracted on 07/03/2016
Premium and share in main lines of business - Transport Insurance In BRL$ million and % change Direct Premium 2011 National Transport
2012
2013
2014
2015
% change % change 2015/2014 2015/2011
% share in Property and Casualty 2011
2012
2013
2014
2015
745,89
723,50
843,24
844,44
737,41
-12,7%
-1,1%
1,6%
1,4%
1,4%
1,3%
1,1%
0,00
0,00
0,00
0,00
0,00
-
-
0,0%
0,0%
0,0%
0,0%
0,0%
International Transport
465,48
533,84
515,91
502,31
506,92
0,9%
8,9%
1,0%
1,0%
0,9%
0,8%
0,7%
Civil Liability - Cargo deviation
273,46
300,30
338,12
366,59
394,79
7,7%
44,4%
0,6%
0,6%
0,6%
0,6%
0,6%
23,00
27,53
30,79
28,13
35,78
27,2%
55,6%
0,1%
0,1%
0,1%
0,0%
0,1%
751,09
713,54
739,76
753,99
832,82
10,5%
10,9%
1,6%
1,4%
1,2%
1,2%
1,2%
2.258,91
2.298,72
2.467,83
2.495,46
2.507,72
0,5%
11,0%
5,0%
4,5%
4,1%
3,8%
3,6%
45.630,70
51.346,11
60.524,22
65.312,57
68.766,52
5,3%
50,7%
100,0%
100,0%
100,0%
100,0%
100,0%
Civil Liability of the Carrier
Carrier civil liability in International Tranport - Cargo Other lines of business Transport Property and Casualty
Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Note:
The item “other lines of business� encompasses the other lines that go into Transport Insurance yet do not stand for significant figures.
Statistics
40 Summary
FenSeg
Credit Insurance and Surety Bonds | Rural Insurance Premium and share in main lines of business - Credit Insurance and Surety Bonds In BRL$ million and % change Direct Premium 2011
2012
2013
2014
2015
% change % change 2015/2014 2015/2011
% share in Property and Casualty 2011
2012
2013
2014
2015
Performance bond- Public sector
413,90
541,30
769,24
915,74
1.481,22
61,8%
257,9%
0,9%
1,1%
1,3%
1,4%
2,2%
Internal Credit
199,59
319,38
412,34
518,09
595,91
15,0%
198,6%
0,4%
0,6%
0,7%
0,8%
0,9%
Rental Surety Insurance
237,48
285,81
351,96
369,04
379,14
2,7%
59,7%
0,5%
0,6%
0,6%
0,6%
0,6%
Performance bond- Private sector
273,61
205,90
224,58
276,71
176,51
-36,2%
-35,5%
0,6%
0,4%
0,4%
0,4%
0,3%
Domestic credit Insurance- Commercail Risks
120,16
72,78
40,31
33,48
20,88
-37,6%
-82,6%
0,3%
0,1%
0,1%
0,1%
0,0%
Other lines of business
214,57
166,90
193,34
119,66
76,86
-35,8%
-64,2%
0,5%
0,3%
0,3%
0,2%
0,1%
1.459,30
1.592,08
1.991,77
2.232,71
2.730,53
22,3%
87,1%
3,2%
3,1%
3,3%
3,4%
4,0%
45.630,70
51.346,11
60.524,22
65.312,57
68.766,52
5,3%
50,7%
100,0%
100,0%
100,0%
100,0%
100,0%
Credit Insurance and Surety Bonds Property and Casualty Source:
SES (SUSEP) - Data extracted on 07/03/2016
Note:
Premium and share of the major Lines of Business - Credit Insurance and Surety Bonds
Premium and share in main lines of business - Rural Insurance In BRL$ million and % change Direct Premium 2011
2012
2013
2014
2015
% change % change 2015/2014 2015/2011
% share in Property and Casualty 2011
2012
2013
2014
2015
Rural Pledge Insurance
410,82
529,39
695,16
812,52
823,67
1,4%
100,5%
0,9%
1,0%
1,1%
1,2%
1,2%
Crop Ins. wt Rural Ins. Stability Fund Cov.
259,10
300,49
452,65
731,81
895,36
22,3%
245,6%
0,6%
0,6%
0,7%
1,1%
1,3%
Crop Ins. with Rural Ins. Stability Fund Cov.
214,70
256,41
572,70
648,83
636,89
-1,8%
196,6%
0,5%
0,5%
0,9%
1,0%
0,9%
Farmowners Multiple Peril (Incl. Farming and Cattle Products)
121,65
136,29
202,28
226,51
237,20
4,7%
95,0%
0,3%
0,3%
0,3%
0,3%
0,3%
Farmowner life Insurance
203,77
231,00
336,90
435,68
638,40
46,5%
213,3%
0,4%
0,4%
0,6%
0,7%
0,9%
24,91
21,08
26,04
38,57
39,90
3,5%
60,2%
0,1%
0,0%
0,0%
0,1%
0,1%
1.234,94
1.474,66
2.285,72
2.893,92
3.271,43
13,0%
164,9%
2,7%
2,9%
3,8%
4,4%
4,8%
45.630,70
51.346,11
60.524,22
65.312,57
68.766,52
5,3%
50,7%
100,0%
100,0%
100,0%
100,0%
100,0%
Other lines of business Rural Insurance Property and Casualty
Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Note: The item “other lines of business� encompasses the other lines that go into Rural Insurance Insurance yet do not stand for significant figures.
Statistics
41 Summary
FenSeg
Civil liability | Air and Marine Cargo Insurance Premium and share in main lines of business - Civil liability insurance In BRL$ million and % change Direct Premium 2011
2012
2013
2014
2015
% change % change 2015/2014 2015/2011
% share in Property and Casualty 2011
2012
2013
2014
2015
General liability
639,31
680,51
770,00
812,04
872,00
7,4%
36,4%
1,4%
1,3%
1,3%
1,2%
1,3%
D&O Civil liability
168,72
195,57
224,65
227,63
368,14
61,7%
118,2%
0,4%
0,4%
0,4%
0,3%
0,5%
Professional liability
101,64
135,15
185,34
209,41
235,84
12,6%
132,0%
0,2%
0,3%
0,3%
0,3%
0,3%
17,59
32,39
37,58
41,46
43,34
4,5%
146,4%
0,0%
0,1%
0,1%
0,1%
0,1%
927,26
1.043,63
1.217,57
1.290,55
1.519,33
17,7%
63,9%
2,0%
2,0%
2,0%
2,0%
2,2%
45.630,70
51.346,11
60.524,22
65.312,57
68.766,52
5,3%
50,7%
100,0%
100,0%
100,0%
100,0%
100,0%
Environmental Risks liability Civil liability Property and Casualty
Source: SES (SUSEP) - Data extracted on 07/03/2016
Premium and share in main lines - Air and Marine Cargo Insurance In BRL$ million and % change Direct Premium 2011
2012
2013
2014
2015
% change % change 2015/2014 2015/2011
% share in Property and Casualty 2011
2012
2013
2014
2015
Aircraft Hull Insurance
224,03
208,09
205,80
245,01
298,37
21,8%
33,2%
0,5%
0,4%
0,3%
0,4%
0,4%
Marine Hull Insurance
182,06
168,28
196,18
214,32
234,76
9,5%
29,0%
0,4%
0,3%
0,3%
0,3%
0,3%
Comprehensive port Operator Ins.
65,77
75,05
117,42
131,52
114,33
-13,1%
73,8%
0,1%
0,1%
0,2%
0,2%
0,2%
Volunt. Aircraft liability Ins.
34,73
94,06
105,48
108,04
105,98
-1,9%
205,1%
0,1%
0,2%
0,2%
0,2%
0,2%
Other lines of business
87,35
56,92
58,60
64,14
55,98
-12,7%
-35,9%
0,2%
0,1%
0,1%
0,1%
0,1%
593,94
602,40
683,48
763,03
809,42
6,1%
36,3%
1,3%
1,2%
1,1%
1,2%
1,2%
45.630,70
51.346,11
60.524,22
65.312,57
68.766,52
5,3%
50,7%
100,0%
100,0%
100,0%
100,0%
100,0%
Air and Marine Cargo Insurance Property and Casualty
Source:SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Note:
The item “other lines of business� encompasses the other lines that go into Air and Maritime Transport Insurance yet do not stand for significant figures
Statistics
42 Summary
FenSeg
Claims Claims in the Property and Casualty segment In BRL$ billion and % change
Property and Casualty
2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
23,4
27,5
30,3
34,1
37,9
11,1%
61,8%
Source: SES (SUSEP) - Data extracted on 07/03/2016
Claims in Property and Casualty In BRL$ billlion
2011 2012 2013 2014 2015
23,4 bi 27,5 bi 30,3 bi 37,9 bi 12,9 bi
Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Statistics
43 Summary
FenSeg
Claims per line of business group Claims in Property and Casualty per line group In BRL$ million and % change Loss incurred
% change 2015/2014
% change 2015/2011
2011
2012
2013
2014
2015
13.598,79
14.961,84
17.299,08
19.626,14
20.377,74
3,8%
49,8%
DPVAT- Compulsory Vehicle Liability Insurance
2.909,90
3.098,16
3.490,82
3.682,06
3.740,78
1,6%
28,6%
Property
3.642,59
4.056,24
4.183,68
4.839,11
5.636,07
16,5%
54,7%
395,53
716,14
540,07
375,54
517,55
37,8%
30,8%
1.241,51
1.432,33
1.517,88
1.777,23
1.709,18
-3,8%
37,7%
Credit Insurance and Surety Bonds
226,05
725,45
648,65
679,10
1.108,22
63,2%
390,3%
Extended Warranty
312,50
350,44
408,43
473,14
509,16
7,6%
62,9%
Civil Liability
261,30
411,31
507,82
760,41
1.245,76
63,8%
376,8%
Rural Insurance
477,06
740,20
801,05
1.261,07
1.688,99
33,9%
254,0%
Air and Marine Cargo Insurance
335,19
656,09
577,22
364,65
828,04
127,1%
147,0%
14,35
324,32
348,33
282,26
531,22
88,2%
3602,3%
23.414,76
27.472,53
30.323,03
34.120,68
37.892,70
11,1%
61,8%
Car
Housing Mortgage Insurance Transport Insurance
Others Property and Casualty Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Statistics
44 Summary
FenSeg
Claim Distribution per Line of Business group Distribution of clamis per line group In %
1,4% 2,2%
Car
3,3% 1,3%
Compulsory Vehicle Liability Insurance
4,5%
2,9%
1,4%
Property Insurance Housing Mortgage Insurance
4,5%
Transportation insurance
53,8% 14,9%
Credit Insurance and Surety Bonds Extended Warranty Civil Liability Insurance
9,9% Rural Insurance Air and Marine Cargo Insurance Others
Source:
SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Statistics
45 Summary
FenSeg
Claims per Region Claims per region and line group In BRL$ million and % change Direct loss 2012
2013
2014
2015
1.395,33
1.485,75
1.803,97
1.950,97
2.349,85
20,4%
68,4%
0,14
0,83
96,02
1.110,95
849,27
-23,6%
601.474,5%
263,53
269,23
78,15
181,70
36,21
-80,1%
-86,3%
Housing Mortgage Insurance
31,42
33,95
34,77
42,74
49,40
15,6%
57,2%
Transportation insurance
39,27
76,39
93,47
40,08
145,35
262,7%
270,1%
Credit Insurance and Surety Bonds
22,80
57,87
62,47
13,05
284,11
2.077,1%
1.145,9%
Extended Warranty
12,08
15,35
25,48
37,71
34,09
-9,6%
182,3%
Civil Liability Insurance
10,82
4,25
8,21
10,88
22,93
110,7%
111,9%
Rural Insurance
9,04
15,92
42,60
125,45
112,62
-10,2%
1.146,1%
Air and Marine Cargo Insurance
7,54
24,00
13,85
19,93
15,43
-22,6%
104,6%
Others
4,83
15,54
18,92
21,69
21,03
-3,0%
335,3%
1.796,80
1.999,08
2.277,89
3.555,15
3.920,29
10,3%
118,2%
8.640,00
9.525,73
10.786,52
12.431,49
11.846,13
-4,7%
37,1%
0,53
1,92
80,55
937,84
806,12
-14,0%
152.587,5%
2.573,18
3.235,13
2.495,44
3.044,88
3.911,56
28,5%
52,0%
230,47
245,16
266,34
294,62
375,00
27,3%
62,7%
1.071,26
1.184,33
1.272,44
1.255,23
1.090,18
-13,1%
1,8%
Credit Insurance and Surety Bonds
384,98
754,34
754,39
894,97
928,81
3,8%
141,3%
Extended Warranty
286,13
331,55
346,65
350,19
385,90
10,2%
34,9%
Civil Liability Insurance
204,58
332,78
403,40
492,20
937,49
90,5%
358,3%
Rural Insurance
175,86
236,25
355,15
476,88
402,34
-15,6%
128,8%
Air and Marine Cargo Insurance
217,00
580,44
500,81
339,25
716,68
111,3%
230,3%
Others
-16,86
259,95
255,34
183,39
338,82
84,8%
2.110,1%
13.767,13
16.687,58
17.517,04
20.700,93
21.739,04
5,0%
57,9%
Compulsory Vehicle Liability Insurance Property Insurance
Total in the Northeastern Region Car Compulsory Vehicle Liability Insurance Property Insurance Housing Mortgage Insurance Transportation insurance Southeast
% change 2015/2011
2011 Car
Northeast
% change 2015/2014
Total in the Southeastern Region
Brazilian Insurance Market | Results and Prospects
Statistics
46 Summary
FenSeg
Claims per region Continuação
Claims per region and line group In BRL$ million and % change Direct loss 2012
2013
2014
2015
1.330,62
1.315,58
1.663,40
1.866,57
1.931,70
3,5%
45,2%
0,08
0,16
27,80
320,97
275,07
-14,3%
343.164,3%
124,43
153,18
352,25
208,15
213,24
2,4%
71,4%
Housing Mortgage Insurance
27,00
39,53
48,55
59,06
58,73
-0,5%
117,5%
Transportation insurance
29,28
29,75
47,74
43,45
47,61
9,6%
62,6%
Credit Insurance and Surety Bonds
33,69
116,72
78,12
69,13
144,55
109,1%
329,1%
Extended Warranty
7,31
7,69
7,83
9,79
12,22
24,8%
67,1%
Civil Liability Insurance
1,46
5,51
6,42
10,92
4,68
-57,2%
220,1%
70,26
102,21
89,65
137,25
340,32
147,9%
384,4%
Air and Marine Cargo Insurance
4,78
18,77
7,27
13,24
10,26
-22,5%
114,6%
Others
2,61
4,39
8,77
8,88
12,60
41,9%
383,0%
1.631,53
1.793,48
2.337,80
2.747,41
3.050,99
11,0%
87,0%
270,29
295,88
344,12
371,52
426,45
14,8%
57,8%
0,08
0,38
27,48
291,99
211,15
-27,7%
252.372,5%
44,74
20,80
118,41
16,45
45,65
177,5%
2,0%
6,05
6,45
7,76
9,28
9,81
5,7%
62,1%
13,44
32,43
17,12
22,99
23,45
2,0%
74,5%
Credit Insurance and Surety Bonds
1,83
1,40
8,60
5,03
23,16
360,5%
1.163,0%
Extended Warranty
0,63
0,60
1,47
3,09
3,75
21,3%
493,5%
-0,28
-3,61
1,61
2,63
4,04
53,7%
1.526,7%
Rural Insurance
2,85
4,83
6,52
7,02
24,32
246,3%
754,1%
Air and Marine Cargo Insurance
1,67
2,69
4,08
2,60
10,57
305,7%
533,1%
Others
1,32
4,43
5,84
3,61
3,71
2,8%
180,1%
342,63
366,28
543,00
736,22
786,06
6,8%
129,4%
Compulsory Vehicle Liability Insurance Property Insurance
Rural Insurance
Total in the Midwestern Region Car Compulsory Vehicle Liability Insurance Property Insurance Housing Mortgage Insurance Transportation insurance North
% change 2015/2011
2011 Car
Midwest
% change 2015/2014
Civil Liability Insurance
Total in the Northern Region
Brazilian Insurance Market | Results and Prospects
Statistics
47 Summary
FenSeg
Claims per Region Continuação
Claims per region and line group In BRL$ million and % change Direct loss
% change 2015/2011
2011
2012
2013
2014
2015
2.908,84
3.320,11
3.485,00
3.907,02
4.433,40
13,5%
52,4%
0,92
0,61
66,73
449,07
373,21
-16,9%
40.254,3%
484,89
429,55
736,44
691,23
769,99
11,4%
58,8%
47,29
53,50
60,10
70,88
81,46
14,9%
72,3%
254,28
289,94
285,54
308,47
337,25
9,3%
32,6%
Credit Insurance and Surety Bonds
23,97
24,59
38,93
41,89
81,39
94,3%
239,5%
Extended Warranty
10,42
13,22
19,91
22,99
40,89
77,8%
292,5%
Civil Liability Insurance
24,19
36,66
41,23
62,22
74,38
19,5%
207,4%
207,90
384,01
286,35
440,07
713,73
62,2%
243,3%
Air and Marine Cargo Insurance
42,68
18,16
29,65
14,34
22,05
53,8%
-48,3%
Others
13,64
29,29
39,74
38,33
43,09
12,4%
215,8%
4.019,02
4.599,63
5.089,62
6.046,52
6.970,86
15,3%
73,4%
21.657,27
25.454,77
27.766,08
33.786,24
36.467,24
7,9%
68,4%
Car Compulsory Vehicle Liability Insurance Property Insurance Housing Mortgage Insurance Transportation insurance South
% change 2015/2014
Rural Insurance
Total in the Southern Region Brazil Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Note:
Amounts not listed in specific geographic regions and overseas come under “Other”, once they do not stand for significant figures.
Statistics
48 Summary
FenSeg
Recovery of Indemnity paid in Reinsurance Recovery of indemnity corresponding to reinsurance per line group In BRL$ million and % change Recovery of indemnity corresponding to reinsurance
% change 2015/2014
% change 2015/2011
2011
2012
2013
2014
2015
128,52
141,90
160,86
277,36
374,41
35,0%
191,3%
-1,67
0,18
-0,02
-0,05
0,00
100,7%
100,0%
2.174,82
2.533,69
2.372,88
2.621,97
2.875,88
9,7%
32,2%
16,03
14,59
18,39
20,30
23,38
15,2%
45,9%
Transportation insurance
230,39
322,33
344,27
405,88
458,49
13,0%
99,0%
Credit Insurance and Surety Bonds
126,96
507,14
373,19
231,97
510,95
120,3%
302,4%
0,00
0,00
0,00
0,00
0,00
-100,0%
-
95,97
187,15
182,32
306,60
628,91
105,1%
555,3%
Rural Insurance
245,29
483,41
424,69
673,12
940,40
39,7%
283,4%
Air and Marine Cargo Insurance
260,54
547,75
456,28
318,77
672,23
110,9%
158,0%
Others
-18,93
230,40
204,95
133,42
379,74
184,6%
2106,4%
3.257,93
4.968,52
4.537,79
4.989,32
6.864,41
37,6%
110,7%
Car Compulsory Vehicle Liability Insurance Property Insurance Housing Mortgage Insurance
Extended Warranty Civil Liability Insurance
Property and Casualty Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Statistics
49 Summary
FenSeg
Coinsurance Claims Accepted and assigned coinsurance claim per line group In BRL$ million and % change Accecpted coinsurance claim
% change % change 2015/2014 2015/2011
2011
2012
2013
2014
2015
82,69
41,56
43,47
45,23
58,38
29,1%
0,09
0,38
0,03
0,04
-0,02
Property Insurance
496,56
305,58
495,57
440,30
Housing Mortgage Insurance
2,10
5,58
7,21
40,91
60,82
Credit Insurance and Surety Bonds
2,09
Extended Warranty
Assigned coinsurance claim
% change % change 2015/2014 2015/2011
2011
2012
2013
2014
2015
-29,4%
86,64
45,24
43,68
50,58
58,66
16,0%
-32,3%
-153,6%
-125,8%
-0,25
-0,07
0,00
0,02
0,00
-86,1%
101,2%
466,28
5,9%
-6,1%
398,07
394,41
217,70
201,05
285,40
42,0%
-28,3%
6,88
-2,55
-137,1%
-221,9%
2,61
5,86
7,38
6,61
-2,94
-144,5%
-212,5%
76,88
76,13
90,48
18,9%
121,2%
42,46
73,08
92,46
84,92
79,77
-6,1%
87,9%
13,37
1,85
31,91
46,43
45,5%
2.116,3%
-4,42
29,31
8,30
151,63
3,79
-97,5%
185,8%
0,00
0,05
7,00
38,54
38,84
0,8%
-
2,02
3,01
11,90
32,68
45,39
38,9%
2.151,3%
Civil Liability Insurance
6,22
7,75
19,45
18,65
38,25
105,1%
514,7%
1,36
4,70
16,79
23,84
110,04
361,5%
8.011,7%
Rural Insurance
0,19
0,72
0,25
2,18
0,88
-59,7%
373,8%
-0,12
1,77
2,72
1,95
1,01
-48,1%
914,5%
24,58
68,05
38,85
22,46
32,16
43,2%
30,9%
18,98
58,08
41,14
38,73
11,54
-70,2%
-39,2%
-10,89
0,79
35,43
8,33
156,73
1.781,5%
1.539,0%
-17,87
0,96
29,33
26,63
124,22
366,5%
795,3%
644,54
504,63
725,97
690,64
925,85
34,1%
43,6%
529,46
616,34
471,39
618,65
716,89
15,9%
35,4%
Car Compulsory Vehicle Liability Insurance
Transportation insurance
Air and Marine Cargo Insurance Others Property and Casualty
Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Statistics
50 Summary
FenSeg
Salvage Recovery | Trading Expenses Development Recovery of salvage and reimbursement per line group In BRL$ million and % change 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
1.654,82
1.580,87
1.994,60
2.474,16
2.606,39
5,3%
57,5%
0,14
-0,14
3,05
0,01
0,57
5.741,7%
310,5%
31,90
20,36
30,08
77,40
69,26
-10,5%
117,2%
0,00
0,45
0,08
0,01
0,01
59,9%
6.109,8%
Transportation insurance
196,17
165,62
183,31
148,71
158,48
6,6%
-19,2%
Credit Insurance and Surety Bonds
144,54
182,51
249,57
296,22
363,63
22,8%
151,6%
Extended Warranty
1,41
4,49
4,97
5,47
5,14
-6,0%
265,5%
Civil Liability Insurance
1,81
1,45
1,96
4,01
2,80
-30,1%
54,9%
Rural Insurance
3,47
3,87
2,47
4,12
6,11
48,3%
76,1%
Air and Marine Cargo Insurance
9,18
2,38
6,38
14,68
76,44
420,9%
732,9%
Others
0,51
0,62
2,25
0,67
3,96
492,5%
675,4%
2.043,94
1.962,49
2.478,71
3.025,45
3.292,79
8,8%
61,1%
Car Compulsory Vehicle Liability Insurance Property Insurance Housing Mortgage Insurance
Property and Casualty Source: SES (SUSEP) - Data extracted on 07/03/2016
Development of Trading expenses in Property and Casualty In BRL$ billlion
2011 2012 2013 2014 2015
7,6 bi 8,5 bi 9,6 bi 11,8 bi 12,9 bi Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Statistics
51 Summary
FenaPrevi
Certificate Numbers | Technical Provisions | Portability Number of Individual Coverage Plan Certificates - Accrual Plans per type of contract In thousands and % change 2011 Group plans
Individual plans
Corporate
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
186,06
258,06
263,24
243,27
295,48
21,5%
58,8%
Certificates
2.903,55
2.627,20
2.721,32
2.802,83
3.207,50
14,4%
10,5%
Individual
7.165,30
7.690,99
8.407,62
8.484,94
9.293,89
9,5%
29,7%
Certificates
8.671,39
9.368,51
9.884,63
10.305,42
11.298,09
9,6%
30,3%
Source: FenaPrevi
Note:
1) Amounts in this table only refer to data supplied by companies affiliated with FenaPrevi. 2) Amounts that refer to traditional plans cannot be segregated into risk and accrual, hence stand for their total amount in this table.
Technical provisions for Individual Coverage Plans - Accrual Plans per type of plan In BRL$ billion and % change 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
VGBL Family
159,87
209,44
242,50
300,43
379,23
26,2%
137,2%
PGBL Family
65,15
75,18
80,76
90,89
104,02
14,5%
59,7%
Traditional Accrual Plans
30,25
31,22
31,68
29,97
32,38
8,0%
7,0%
255,27
315,85
354,93
421,29
515,63
22,4%
102,0%
Accrual plans Source:
Note:
SES (SUSEP) - Data extracted on 07/03/2016
Provisions for the PGBL family of products [Free Benefit Plan] and VGBL family of products [Individual Retirement Plan] take into account only that portion of the Mathematical Provision for Benefits to be Granted (PMBAC).
Portability in Individual Coverage - Accrual plans In BRL$ billion, in units and % change
Amounts from Operations Number of Operations
2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
3,84
5,69
6,65
8,16
10,23
25,4%
166,4%
47.286
57.774
61.344
62.486
71.237
14,0%
50,7%
Source: CESER/CNseg
Brazilian Insurance Market | Results and Prospects
Note:
Amounts in this table only refer to data supplied by companies affiliated with FenaPrevi that use SIDE - Electronic Document Exchange System.
Statistics
52 Summary
FenaPrevi
Redemption Modes | Revenue Surrender of Individual Coverage in Accrual Plans per type of plan In BRL$ billion and % change 2011
2012
2013
2014
2015
PGBL Family
3,50
3,76
4,46
5,41
VGBL Family
18,95
22,90
34,38
1,11
1,02
23,55
27,68
Traditional Accrual Plans Accrual plans Source:
SES (SUSEP) - Data extracted on 07/03/2016
Note:
% change 2015/2014
% change 2015/2011
6,30
16,5%
80,0%
33,58
38,90
15,8%
105,3%
1,03
1,16
1,39
19,8%
24,8%
39,87
40,14
46,58
16,0%
97,8%
Amounts that refer to endowment lines were added to the risk plans segment, although they display mixed features of risk and accrual.
Revenue from Individual Coverage - Risk Plans per line of business groups In BRL$ billion and % change 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
Group Insurance
16,90
19,00
22,17
23,45
24,59
4,9%
45,5%
Individual Insurance
2,15
2,86
3,57
4,21
5,18
23,0%
140,3%
Traditional Risk Plans
2,29
2,49
2,86
3,08
3,03
-1,7%
32,4%
21,34
24,34
28,60
30,74
32,79
6,7%
53,7%
Risk Plans Source:
SES (SUSEP) - Data extracted on 07/03/2016
Note:
Amounts that refer to endowment lines were added to the risk plans segment, although they display mixed features of risk and accrual.
Revenue from Individual Coverage - Accrual Plans per type of plan In BRL$ billion and % change 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
VGBL Family
43,39
59,57
62,26
71,39
86,15
20,7%
98,5%
PGBL Family
7,01
7,53
7,92
8,38
9,00
7,4%
28,3%
Traditional Accrual Plans
1,04
1,01
0,92
0,87
0,85
-2,0%
-18,0%
51,44
68,12
71,10
80,64
96,00
19,0%
86,6%
Accrual plans Source:
SES (SUSEP) - Data extracted on 07/03/2016
Note:
1) Amounts that refer to endowment lines were added to the risk plans segment, although they display mixed features of risk and accrual. 2) It should be noted that Revenue from Accrual Plans equal to the total premium and payment amounts paid to support security plans, and are deposited into the Mathematical Provision for Benefits to be Granted (PMBAC).
Brazilian Insurance Market | Results and Prospects
Statistics
53 Summary
FenaPrevi
Provision Distribution | Revenue Distribution Distribution of technical provisions from Individual Coverage Plans Accrual Plansper type of contract
Distribution of revenue from Individual Coverage Plans Risk Plans per line of business
In percentages
In percentages
1,3%
1,4% 2,0% 13,6%
16,7% 2,9% 27,7% 16,7% 3,2%
83,5% 41,6%
Lender Group
Minor
Individual Plans
Life
Personal Accidents Mixed Endowments
Random Events Serious or Terminal Diseases
Other lines of business
Mourning and Funeral
Source: FenaPrevi
Source:
Note:
Note: 1) Amounts that refer to endowment lines were added to the risk plans, although they display mixed features of risk and accrual. 2) Lines of business whose share was lower than 1% have been added to “Other Lines of Business.� 3) Only Risk Plan Products with an insurance nature have been considered.
Amounts in this table only refer to data supplied by companies affiliated with FenaPrevi.
Brazilian Insurance Market | Results and Prospects
SES (SUSEP) - Data extracted on 07/03/2016
Statistics
54 Summary
FenaPrevi
Revenue Revenue from Individual Coverage Plans - Risk Plans per line of business In BRL$ million and % change 2011 Group Individual Insurance Insurance
2012 Total
Group Individual Insurance Insurance
2013 Total
Group Individual Insurance Insurance
2014 Total
Group Individual Insurance Insurance
2015 Total
Group Individual Insurance Insurance
% change 2015/2014 Total
Funeral Assist.
154,72
9,08
163,80
159,56
11,71
171,27
241,62
14,52
256,15
301,81
25,25
327,06
330,72
58,12
Education Ins.
19,11
0,01
19,12
20,23
0,00
20,24
29,86
0,00
29,86
30,72
0,00
30,72
27,07
0,00
Travel Ins.
38,16
7,42
45,57
53,36
21,23
74,59
63,90
29,52
93,42
103,30
48,92
152,22
150,60
73,97
224,57
Lender
4.428,53
39,64
4.468,17 5.744,17
66,21
5.810,38 6.934,37
71,67
7.006,04 7.843,43
136,69
7.980,11 8.021,38
209,99
Life Ins.
7.870,03
712,64
8.582,67 8.282,14
912,31
11.240,41 10.513,95 1.865,37
0,25
1,08
1,33
0,05
1,61
1,66
0,05
1,88
1,93
0,05
2,01
2,06
0,06
390,38
138,83
529,21
461,53
176,26
637,78
520,02
213,25
733,27
519,10
252,94
772,04
0,00
73,75
73,75
0,00
37,12
37,12
0,00
30,33
30,33
0,00
15,01
15,01
3.559,82
361,03
3.920,85 3.879,08
398,16
4.277,25 4.221,12
558,99
4.780,12 4.399,44
563,04
Serious or terminal diseases
275,07
25,02
300,09
Mixed endowments
113,21
762,44
875,65
48,92
23,48
72,40
36,51
77,20
113,71
20,57
52,88
73,45
25,11
23,22
48,33
33,62
24,53
0,00
0,00
0,00
0,00
0,00
0,00
0,00
7,68
7,68
0,00
80,59
80,59
0,00
PCHV Random events Ins. Pure endowment Personal accidents
Unemployment / loss of revenue Microins. Risk Plans
16.898,20 2.154,42
Source:
359,74
9.194,46 9.741,34 1.294,06
33,61
393,35
0,00 1.122,93
1.122,93
19.052,62 18.996,39 2.858,34
399,49
44,47
443,96
0,00 1.249,79
1.249,79
21.854,73 22.172,33 3.569,06
SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
11.035,40 9.756,77 1.483,63
Note:
466,70
Group Individual Insurance Insurance
Total
130,2%
18,9%
113,8%
540,1%
137,4%
27,07 -11,9%
-112,5%
-11,9%
41,6%
-102,3%
41,6%
45,8%
51,2%
47,5%
294,7%
897,4%
392,8%
8.231,37
2,3%
53,6%
3,1%
81,1%
429,8%
84,2%
12.379,32
7,8%
25,7%
10,1%
33,6%
161,8%
44,2%
2,13
2,19
12,8%
6,1%
6,2%
-77,5%
97,6%
64,8%
588,05
378,37
966,42
13,3%
49,6%
25,2%
50,6%
172,6%
82,6%
0,00
16,86
16,86
-
12,4%
12,4%
-77,1%
-77,1%
4.962,48 4.409,01
559,37
4.968,37
0,2%
-0,7%
0,1%
23,9%
54,9%
26,7%
72,93
586,62
10,1%
41,8%
13,2%
86,8%
191,4%
95,5%
0,00 1.841,92
1.841,92
-
20,6%
20,6%
-100,0%
141,6%
110,3%
58,15
33,9%
5,6%
20,3%
-31,3%
4,5%
-19,7%
74,41
74,41
-
-7,7%
-7,7%
-
27.656,14 24.588,15 5.177,97
29.766,12
23,0%
7,6%
518,13
0,00 1.526,98
1.526,98
25.741,40 23.446,44 4.209,70
Total
9,6%
51,43
513,69
388,84
Group Individual Insurance Insurance
% change 2015/2011
4,9%
-
45,5%
-
-
140,3%
56,2%
1) Amounts that refer to endowment lines were added to the risk plans segment, although they display mixed features of risk and accrual. 2) Only Risk Plan Products with an insurance nature have been considered
Statistics
55 Summary
FenaPrevi
Claims Claimf from Individual Coverage Plans- Risk Plans per line of business In BRL$ million and % change 2011
2012
2013
2014
2015
% change 2015/2014 % change 2015/2011
Group Individual Group Individual Group Individual Group Individual Group Individual Group Individual Group Individual Insurance Insurance Insurance Insurance Insurance Insurance Insurance Insurance Insurance Insurance Insurance Insurance Insurance Insurance Funeral Assistance
14,37
0,80
37,98
1,61
143,58
2,32
90,41
3,28
75,46
5,75
-16,5%
Education Insurance
15,17
0,00
12,63
0,00
18,62
0,00
26,58
0,00
17,99
0,00
-32,3%
Travel Insurance
11,38
1,03
6,22
2,82
15,97
5,72
34,71
13,68
52,58
17,95
51,5%
857,86
0,23
914,62
2,60
840,71
4,91
1.168,81
8,66
1.146,67
21,65
3.705,59
129,61
4.124,82
160,56
4.376,68
176,31
4.861,34
251,10
4.970,77
0,74
0,35
-0,04
0,23
0,00
0,74
-0,01
3,33
126,58
11,56
128,95
20,40
123,28
37,62
144,49
0,00
39,30
0,00
34,11
0,00
17,66
425,13
87,56
555,58
113,84
694,29
Serious or terminal diseases
28,53
9,55
35,37
11,22
Mixed endowments
-0,63
16,35
0,01
Unemployment / loss of revenue
3,86
0,60
Microinsurance
0,00 5.188,58
Lender Life Insurance PCHV Random events Insurance Pure endowment Personal accidents
Risk Plans
Source:
75,2%
623,5%
18,6%
-
31,2%
362,2%
1635,4%
-1,9%
150,0%
33,7%
9133,1%
386,86
2,3%
54,1%
34,1%
198,5%
0,05
3,98
738,4%
19,4%
-92,6%
1023,3%
42,73
155,65
51,84
7,7%
21,3%
23,0%
348,5%
0,00
2,63
0,00
-9,13
-
133,49
728,76
120,67
757,37
163,65
3,9%
35,6%
78,2%
86,9%
48,43
15,83
77,24
0,98
64,10
39,19
-17,0%
3884,7%
124,7%
310,4%
12,33
0,00
18,10
-0,03
37,38
0,00
114,29
99,9%
205,7%
100,0%
599,2%
6,45
6,88
5,59
13,15
4,00
13,62
5,72
20,34
43,1%
49,3%
48,2%
3305,7%
0,00
0,00
0,00
0,00
0,60
0,00
2,41
0,00
3,58
296,93
5.822,60
366,61
6.267,15
426,44
7.136,30
500,48
7.246,38
819,96
SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Note:
-
425,1%
-447,2%
-
48,7%
1,5%
63,8%
-
-123,2%
-
-
39,7%
176,1%
1) Amounts that refer to endowment lines were added to the risk plans segment, although they display mixed features of risk and accrual. 2) Only Risk Plan Products with an insurance nature have been considered.
Statistics
56 Summary
FenaPrevi
Benefits Paid Benefits paid from Individual Coverage Plans- Traditional Risk Plans In units and % change 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
Lump sum
27.525
35.566
33.543
28.113
38.507
37,0%
39,9%
Pension (disability and death)
20.330
19.257
18.597
16.807
18.741
11,5%
-7,8%
47.855
54.823
52.140
44.920
57.248
27,4%
19,6%
Traditional Risk Plans Source: FenaPrevi
Brazilian Insurance Market | Results and Prospects
Note:
Amounts in this table only refer to data supplied by companies affiliated with FenaPrevi.
Statistics
57 Summary
FenaSaúde
Revenue, GDP and Inflation Revenue and penetration to Supplementary Health GDP per type of operator - Nominal and Real In BRL$ billion and % change 2011 Self-management
2012
2013
2014
2015
% change 2015/2014 Nominal
Real
% change 2015/2011
9,19
10,45
12,07
14,33
16,88
17,8%
6,4%
83,6%
30,44
34,24
38,45
44,50
50,03
12,4%
1,6%
64,4%
Dental Cooperative
0,48
0,53
0,55
0,63
0,68
7,2%
-3,1%
40,0%
Philantropic entities
1,93
2,09
2,24
2,12
2,23
5,2%
-4,9%
15,9%
Group Medical Care
24,80
28,05
31,90
36,13
41,09
13,7%
2,8%
65,7%
Group Dental Care
1,59
1,79
1,96
2,21
2,54
15,2%
4,1%
60,2%
16,86
20,07
23,41
28,56
32,44
13,6%
2,6%
92,4%
85,30
97,23
110,58
128,47
145,90
13,6%
2,6%
71,1%
GDP
4.373,7
4.805,9
5.316,5
5.687,3
5.904,3
3,8%
-6,2%
35,0%
GDP from Services
2.516,8
2.819,9
3.166,5
3.454,0
3.642,3
5,5%
-4,7%
44,7%
Sector share in GDP
1,95%
2,02%
2,08%
2,26%
2,47%
0,21 p.p.
-
0,52 p.p.
IPCA - Extended Consumer Price Index
6,50%
5,84%
5,91%
6,41%
10,67%
-
-
-
Physician Cooperative
Ins. Companies Specializing in Healthcare Supplementary Health
Source:
DIOPS (ANS) - Data extracted on 05/05/2016 SGS (BCB) - Data extracted on 06/05/2016
Brazilian Insurance Market | Results and Prospects
Note:
1) The modality “Benefits Manager” was not addressed by the report since its figures were not significant. 2) The amount released for the Supplementary Healthcare market was estimated by account 311 (Net consideration – Retained Premiums).
Statistics
58 Summary
FenaSaúde
Affiliated Companies’ Revenue per Modality | Healthcare Expenses Revenue of companies affiliated with FenaSaúde per type of operator In BRL$ billion and % change Modality
2011
2012
2013
2014
2015
Group Medical Care
13,35
15,49
17,83
20,86
25,25
21,0%
47,1%
Group Dental Care
1,09
1,25
1,37
1,50
1,68
12,4%
35,6%
11,85
13,81
21,10
27,92
32,24
15,5%
63,2%
85,30
97,23
110,58
128,47
145,90
13,6%
41,5%
Ins. companies specializing in healthcare Supplementary Health Market Source:
DIOPS (ANS) - Data extracted on 05/05/2016
Note:
% change 2015/2014
% change 2015/2011
The amount released for the Supplementary Healthcare market was estimated by account 311 (Net consideration – Retained Premiums).
Healthcare expenses in Supplementary Health per type of operator In BRL$ billion and % change 2011 Self-management
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
8,47
9,89
11,21
13,35
16,17
90,8%
90,8%
24,65
28,01
31,61
36,77
41,26
67,4%
67,4%
Dental Cooperative
0,31
0,34
0,32
0,37
0,41
33,6%
33,6%
Philantropic entities
1,56
1,73
1,85
1,71
1,72
10,3%
10,3%
Group Medical Care
19,35
22,42
25,89
29,40
32,51
68,0%
68,0%
Group Dental Care
0,67
0,76
0,78
0,89
1,07
59,0%
59,0%
13,89
16,82
19,85
24,48
28,37
104,3%
104,3%
68,90
79,97
91,52
106,97
121,50
76,3%
76,3%
Physician Cooperative
Ins. Companies Specializing in Healthcare Supplementary Health
Source:
DIOPS (ANS) - Data extracted on 05/05/2016
Brazilian Insurance Market | Results and Prospects
Note:
The amount released for the Supplementary Healthcare market was estimated by account 311 (Net consideration – Retained Premiums).
Statistics
59 Summary
FenaSaúde
Affiliated Companies’ Healthcare Expenses | Combined Index Combined Index composition of companies affiliated with FenaSaúde In BRL$ billion and % change Modality
2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
Group Medical Care
10,55
12,46
14,61
17,36
20,36
17,3%
93,0%
Group Dental Care
0,49
0,55
0,55
0,62
0,71
12,9%
45,0%
Ins. companies specializing in healthcare
9,97
11,85
17,86
23,90
28,21
18,0%
182,9%
68,90
79,97
91,52
106,97
121,50
13,6%
76,3%
2015/2014
2015/2011
Supplementary Health Market Source:
DIOPS (ANS) - Data extracted on 05/05/2016
Combined Index composition of companies affiliated with FenaSaúde In % to revenue Healthcare Companies
2011
2012
2013
2014
2015
Loss ratio
81,4
83,0
83,4
84,6
84,5
(0,10)
3,06
Administrative expenditure
10,3
9,9
8,8
8,4
7,9
(0,50)
(2,38)
Business expenditure
4,6
4,7
4,9
5,0
5,4
0,32
0,79
Taxes
0,4
0,4
0,5
0,6
0,8
0,13
0,34
96,3
97,6
97,1
98,0
97,7
(0,27)
1,47
Combined Index Source:
DIOPS (ANS) - Data extracted on 05/05/2016
Brazilian Insurance Market | Results and Prospects
Statistics
60 Summary
FenaSaúde
Loss Ratio | Beneficiaries per Modality Supplementary Health Loss Ratio per type of operator In % to revenue 2011
2012
2013
2014
2015
Self-management
92,1%
94,7%
92,8%
93,2%
95,8%
2,59
3,64
Physician Cooperative
81,0%
81,8%
82,2%
82,6%
82,5%
(0,17)
1,49
Dental Cooperative
63,7%
63,5%
59,3%
58,2%
60,8%
2,61
(2,91)
Philantropic entities
81,0%
82,7%
82,6%
80,8%
77,1%
(3,68)
(3,92)
Group Medical Care
78,0%
79,9%
81,2%
81,4%
79,1%
(2,27)
1,08
Group Dental Care
42,5%
42,5%
39,9%
40,3%
42,2%
1,87
(0,33)
Ins. Companies Specializing in Healthcare
82,3%
83,8%
84,8%
85,7%
87,4%
1,74
5,09
80,8%
82,3%
82,8%
83,3%
83,3%
0,01
2,48
Supplementary Health Source:
2015/2014
2015/2011
DIOPS (ANS) - Data extracted on 05/05/2016
Beneficiaries of Supplementary Health per type of operator In thousands and % change 2011
2012
2013
2014
2015
5,07
5,20
5,11
5,27
5,18
-1,6%
2,2%
17,52
18,24
19,00
19,70
19,28
-2,2%
10,0%
Dental Cooperative
2,74
2,83
3,09
3,13
3,13
0,0%
14,4%
Philantropic entities
1,53
1,51
1,49
1,19
1,18
-1,1%
-23,1%
Group Medical Care
18,58
19,59
20,67
20,89
21,14
1,2%
13,7%
Group Dental Care
11,18
12,30
12,52
13,11
13,69
4,4%
22,4%
6,32
7,02
7,64
8,22
7,81
-5,0%
23,5%
62,94
66,69
69,53
71,51
71,40
-0,1%
13,4%
Self-management Physician Cooperative
Ins. Companies Specializing in Healthcare Supplementary Health Source:
BNET (ANS) - Data extracted on 17/05/2016
Brazilian Insurance Market | Results and Prospects
Note:
% change 2015/2014
% change 2015/2011
1) The modality “Benefits Manager” was not addressed by the report since its figures were not significant. 2) The term “beneficiary” refers to the individual who is eligible to receive one or more benefits of a healthcare plan.
Statistics
61 Summary
FenaSaĂşde
Beneficiaries per Region Beneficiaries per region and type of operator In thousands and % change
North
2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
Self-management
0,25
0,26
0,26
0,30
0,27
-9,1%
9,4%
Physician Cooperative
0,87
0,91
0,89
0,92
0,90
-2,3%
3,7%
Dental Cooperative
0,25
0,25
0,25
0,26
0,25
-2,8%
3,4%
Philantropic entities
0,04
0,04
0,04
0,04
0,03
-22,7%
-17,8%
Group Medical Care
0,38
0,48
0,58
0,64
0,72
12,3%
88,1%
Group Dental Care
0,35
0,42
0,46
0,48
0,53
9,6%
49,3%
Ins. Companies Specializing in Healthcare
0,21
0,24
0,25
0,28
0,22
-21,6%
5,0%
2,34
2,59
2,74
2,91
2,91
0,0%
24,8%
Self-management
0,91
0,93
0,92
0,95
0,93
-2,0%
2,3%
Physician Cooperative
1,91
2,00
2,03
2,23
2,23
-0,1%
16,5%
Dental Cooperative
0,33
0,34
0,36
0,35
0,36
2,2%
7,9%
Philantropic entities
0,02
0,02
0,02
0,02
0,02
4,9%
0,9%
Group Medical Care
2,77
3,16
3,34
3,61
3,75
3,7%
35,4%
Group Dental Care
2,30
2,53
2,70
2,64
2,72
3,3%
18,4%
Ins. Companies Specializing in Healthcare
0,77
0,94
1,01
1,04
0,99
-4,1%
29,4%
9,02
9,92
10,38
10,84
11,01
1,5%
22,1%
Self-management
0,55
0,57
0,55
0,62
0,64
3,6%
15,5%
Physician Cooperative
1,18
1,30
1,37
1,47
1,53
4,1%
29,1%
Dental Cooperative
0,22
0,21
0,25
0,27
0,27
2,5%
24,6%
Philantropic entities
0,00
0,00
0,00
0,00
0,00
-6,1%
-54,0%
Group Medical Care
0,53
0,64
0,70
0,73
0,74
1,5%
39,8%
Group Dental Care
0,97
1,05
1,09
1,13
1,20
5,9%
23,4%
Ins. Companies Specializing in Healthcare
0,25
0,29
0,39
0,44
0,41
-6,2%
65,6%
3,70
4,06
4,35
4,64
4,78
3,0%
29,2%
Total number of Beneficiaries in the Northern Region
Northeast
Total number of Beneficiaries in the Northeastern Region
Midwest
Total number of Beneficiaries in the Midwestern Region
Brazilian Insurance Market | Results and Prospects
Statistics
62 Summary
FenaSaúde
Distribution of Beneficiaries Continuação
Beneficiaries per region and type of operator In thousands and % change
Southeast
2013
2014
2015
Self-management
2,48
2,58
2,56
2,54
2,49
-1,8%
0,4%
Physician Cooperative
9,84
10,29
10,75
11,01
10,46
-5,1%
6,3%
Dental Cooperative
1,28
1,28
1,33
1,38
1,40
1,6%
9,4%
Philantropic entities
1,22
1,19
1,17
0,91
0,90
-1,5%
-26,6%
Group Medical Care
13,32
13,70
14,35
14,16
14,22
0,4%
6,7%
Group Dental Care
6,69
7,36
7,29
7,81
8,13
4,0%
21,5%
Ins. Companies Specializing in Healthcare
4,70
5,13
5,55
6,01
5,76
-4,1%
22,7%
39,53
41,54
43,00
43,82
43,35
-1,1%
9,7%
Self-management
0,87
0,85
0,80
0,86
0,85
-2,0%
-2,4%
Physician Cooperative
3,71
3,75
3,96
4,07
4,16
2,3%
12,1%
Dental Cooperative
0,66
0,75
0,89
0,86
0,83
-3,4%
25,8%
Philantropic entities
0,25
0,26
0,26
0,22
0,23
4,2%
-8,1%
Group Medical Care
1,58
1,61
1,70
1,74
1,71
-2,0%
8,2%
Group Dental Care
0,87
0,94
0,98
1,04
1,08
3,9%
25,1%
Ins. Companies Specializing in Healthcare
0,40
0,41
0,45
0,46
0,42
-8,5%
5,2%
8,34
8,56
9,04
9,26
9,29
0,3%
11,4%
62,94
66,69
69,53
71,51
71,40
-0,1%
13,4%
Total number of Beneficiaries in the Southern Region Brazil Source:
% change 2015/2011
2012
Total number of Beneficiaries in the Southeastern Region
South
% change 2015/2014
2011
TABNET (ANS) - Data extracted on 17/05/2016
Brazilian Insurance Market | Results and Prospects
Note:
1) Amounts not listed in specific geographic regions and overseas come under “Other” once they do not stand for significant figures. 2) The term “beneficiary” refers to the individual who is eligible to receive one or more benefits of a healthcare plan.
Statistics
63 Summary
FenaSaúde
Distribution of Beneficiaries Per region and % share
Source:
Southeast
Northeast
60,8%
15,4%
SIB (ANS) - Data extracted on 17/05/2016
Brazilian Insurance Market | Results and Prospects
South
13,0%
Note:
Midwest
6,7%
North
4,1%
1) Amounts not listed in specific geographic regions and overseas come under “Other” once they do not stand for significant figures. 2) The term “beneficiary” refers to the individual who is eligible to receive one or more benefits of a healthcare plan.
Statistics
64 Summary
FenaSaúde
Beneficiaries per Age Group Supplementary Health Beneficiaries per age group In thousands and % share Individual of Family 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
0 - 19 years
3,39
3,55
3,63
3,64
3,63
-0,2%
7,2%
20 - 29 years
1,98
2,05
1,99
1,96
1,93
-1,5%
-2,4%
30 - 39 years
2,01
2,15
2,17
2,18
2,19
0,4%
9,1%
40 - 49 years
1,63
1,71
1,70
1,70
1,71
0,3%
4,7%
50 - 59 years
1,40
1,46
1,48
1,52
1,55
2,2%
10,7%
60 or + years
2,07
2,16
2,27
2,40
2,52
5,2%
22,1%
60 - 69 years
1,03
1,08
1,13
1,19
1,24
4,8%
20,5%
70 - 79 years
0,67
0,69
0,73
0,77
0,80
4,8%
20,5%
80 and over
0,37
0,39
0,41
0,45
0,48
7,1%
29,7%
12,48
13,08
13,25
13,41
13,54
1,0%
8,5%
Total number of Beneficiaries
Group 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
0 - 19 years
12,40
13,14
13,74
14,06
13,73
-2,4%
10,7%
20 - 29 years
10,79
11,26
11,56
11,60
11,10
-4,3%
2,9%
30 - 39 years
10,89
11,96
12,84
13,44
13,58
1,1%
24,7%
40 - 49 years
7,54
8,00
8,38
8,73
8,82
1,0%
17,0%
50 - 59 years
4,90
5,18
5,49
5,78
5,93
2,5%
20,8%
60 or + years
3,93
4,06
4,27
4,49
4,70
4,6%
19,5%
60 - 69 years
2,24
2,35
2,51
2,68
2,82
5,3%
26,2%
70 - 79 years
1,11
1,11
1,14
1,18
1,21
2,9%
9,3%
80 and over
0,59
0,60
0,62
0,63
0,67
4,9%
13,3%
50,46
53,61
56,28
58,10
57,86
-0,4%
14,7%
Total number of Beneficiaries Source:
TABNET (ANS) - Data extracted on 17/05/2016
Brazilian Insurance Market | Results and Prospects
Note:
1) 2) 3) 4)
The The The The
“Group” Plan comprises the beneficiaries of corporate group plans, per subscription and not identified. term “beneficiary” refers to the individual who is eligible to receive one or more benefits of a healthcare plan. “Total” line refers to those beneficiaries defined as having “inconsistent age.” amounts listed without any type of contracting conditions have not been considered.
Statistics
65 Summary
FenaSaúde
Beneficiaries‘ Age Pyramid per Type of Plan
80 or over
70 – 79 years
60 – 69 years
50 – 59 years
40 – 49 years
30 – 39 years
20 – 29 years
0 – 19 years
30% 20% 10% 0 10% 20% 30%
Individual of Family
Source:
SIB (ANS) - Data extracted on 17/05/2016.
Brazilian Insurance Market | Results and Prospects
Note:
1) 2) 3) 4)
The The The The
Groups
“Group” Plan comprises the beneficiaries of corporate group plans, per subscription and not identified. term “beneficiary” refers to the individual who is eligible to receive one or more benefits of a healthcare plan. “Total” line refers to those beneficiaries defined as having “inconsistent age.” amounts listed without any type of contracting conditions have not been considered.
Statistics
66 Summary
FenaCap
Revenue, GDP and Inflation Revenue, Sector´s share to GDP, Net equity, Provisions for Bond scheme - Norminal and Real In BRL$ billlion, % of change and % penetration to GDP 2011 Revenue
2012
2013
2014
2015
% change 2015/2014 Nominal
Real
Variação 2015/2011
14,10
16,59
20,97
21,87
21,51
-1,7%
-11,1%
52,5%
Net Equity
6,32
6,28
5,05
4,01
3,30
-17,6%
-25,6%
-47,8%
Provisions
19,79
22,54
26,77
29,94
31,06
3,7%
-6,3%
57,0%
4.373,7
4.805,9
5.316,5
5.687,3
5.929,7
4,3%
-5,8%
35,6%
Sector´s share to GDP
0,32%
0,35%
0,39%
0,38%
0,36%
-0,02 p.p.
--
0,04 p.p
Extended Consumer Price Index
6,50%
5,84%
5,91%
6,41%
10,67%
--
--
--
GDP
Sources: SES (SUSEP) - Data extracted on 07/03/2016 IBGE - Data extracted on 29/01/2015
Brazilian Insurance Market | Results and Prospects
Statistics
67 Summary
FenaCap
Revenue per Region Revenue from Premium Savings Bonds per Region In BRL$ million and % change 2011
2012
2013
2014
2015
451,10
552,66
716,93
728,73
751,05
3,1%
66,5%
Northeast
1.524,99
1.903,63
2.542,89
2.559,73
2.596,89
1,5%
70,3%
Midwest
1.005,16
1.195,46
1.596,60
1.775,73
1.714,88
-3,4%
70,6%
Southeast
8.055,81
9.401,27
11.702,32
12.472,51
12.564,86
0,7%
56,0%
South
3.042,75
3.538,12
4.414,31
4.335,10
3.883,11
-10,4%
27,6%
14.102,42
16.592,01
20.973,85
21.872,66
21.510,80
-1,7%
52,5%
North
Brazil Source: SES (SUSEP) - Data extracted on 07/03/2016
Source:
% change 2015/2014
% change 2015/2011
Note: Policies registred without the corresponding State indication or abroad have not been reassigned to any region but are considered part of “Brazil”.
Southeast
South
58,4%
18,1%
SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Northeast
12,1%
Midwest
8,0%
North
3,5%
Note: Policies that do not bear any datum in the “state” field or registered overseas were not reallocated to any specific geographical region, although they are comprised by “Brazil”.
Statistics
68 Summary
FenaCap
Drawings, Redemption and Expenses Bond drawing, redemption and expenditure In BRL$ million and % change 2011
2012
2013
2014
2015
% change 2015/2014
% change 2015/2011
9.135,6
10.611,2
13.082,4
15.182,8
17.358,6
14,3%
90,0%
727,6
842,4
1.021,6
1.149,4
1.062,7
-7,5%
46,1%
1.107,8
1.288,8
1.436,9
1.466,5
1.588,4
8,3%
43,4%
Administrative expenditure
570,3
582,1
701,8
782,0
807,9
3,3%
41,6%
Tax expenditure
127,8
140,5
144,6
178,3
193,7
8,6%
51,5%
Operating costs
248,3
244,6
276,1
280,2
295,1
5,3%
18,9%
Bond Scheme - Redeemed Bonds Bond scheme - Prizes drawn Trading expenses
Source: SES (SUSEP) - Data extracted on 07/03/2016
Brazilian Insurance Market | Results and Prospects
Statistics
69 Summary
Institution Representing the Insurance Market Mission to support and strengthen the sector
Summary
T
he National Confederation of General Insurance Companies, Private Pension and Life, Supplementary Health and Premium Bonds - CNseg is a civil association that is present across the country and brings together the Federations which represent the companies that are part of the segments of General Insurance, Complementary Open Private Pension and Life, Supplementary Health and Premium Bonds. Its mission is to promote the development of the insurance market to meet the needs of Brazilian citizens. To that end, CNseg supports and promotes institutional actions aiming at strengthening its associate companies, besides representing them before society and public authorities. CNseg is composed of a General Assembly, a Board of Directors, a Supervisory Board, a Works Council, an Ethics council and an Executive Board. Each area has its duties set forth in the Organization Manual.
Brazilian Capitalization Federation
Brazilian Open-ended Private Pension and Life Federation
Brazilian Private Healthcare Federation
Brazilian Capitalization Federation
Brazilian Capitalization Federation
Brazilian Open-ended Private Pension and Life Federation
Brazilian General Insurance Federation
Brazilian Open-ended Private Pension and Life Federation
Brazilian Private Healthcare Federation
Brazilian Capitalization Federation
Brazilian Insurance Market | Results and Prospects
In November 2015 a plane crash shortened the mandate of the CNseg´s CEO, Marco Antonio Rossi. Jayme Brasil Garfinkel took his place and was nominated to conclude the mandate of the board elected for three-year period of 2013/2016, after having his name approved by the assembly. The year of 2015 was rather dynamic, so much so that the members of the Administrative Board voted on 109 resolutions submitted for approval. Together, all the areas of CNseg sent 11.750 messages/mail to public agencies, insurance companies, Open Complementary Pension entities, and Premium Bonds companies, sharing their views on regulatory matters, disclosing news and events, and even giving information on the existence of insurance. The entity´s 15 Theme-based Commissions bring together approximately 470 market professionals, indicated Portal CNseg by the member Federations and by CNseg, who agree on a volunteer basis to exchange information and ideas Theme-based for a more efficient, nimble and efficient market. The Commissions Commissions promoted 140 meetings, the majority through videoconferences with CNseg´s headquarters in Rio de Janeiro, and with the Union of Insurance Companies in São Paulo. They are: Actuarial, Administration and Finances, Tax-related Matters, Legal Matters, Communications and Marketing, Internal Controls, Investments, Micro-insurance and Popular Insurance, Ombudsman´s Office, Processes and Information Technology, Human Resources, Consumer Relations, Reinsurance, Sustainability and Permanent Governmental Matters.
Brazilian Private Healthcare Federation
Brazilian General Insurance Federation
Brazilian General Insurance Federation
The Confederation started to take part in a forum of the following agencies: The National Private Insurance Council, the Ministry of the Environment, the Ministry of Labor and Employment, the Chamber of Commerce of Rio de Janeiro, the Brazilian Federation of Banks, FIDES, the Brazilian Association of Company-Customer Relations, the Municipal Olympic Company.
Brazilian Open-ended Private Pension and Life Federation
Brazilian Private Healthcare Federation
Brazilian General Insurance Federation
CNseg
73 Summary
Key actions
To allow for a more encompassing view, the pages that follow mention only some of the key actions and work done by CNseg in 2015:
the Ombudsman´s offices of companies. Sixty professionals were trained; consequently, the workforce became more skilled.
Consumer Protection: boosted communication with consumer
Collecting Data System in Ombudsman´s Offices - SCD Ouvidorias: this online tool was developed and implemented to be
protection agencies, especially with the National Secretariat for Consumer Protection - Senacon, and the Brazilian Association of Procons (Consumer protections bureaux). To this end, it promoted the First Conference for the Protection of insurance Consumers, a forum to promote honest and constructive conversation between the market and consumer protection agencies.
Commitment Letter to Brazilian Consumers from Ombudsmen in Insurances, Private Pension, Supplementary Health and Premium Bonds: which was written and made public during the 5th Conference for the Protection of Insurance Consumers and ratified the commitment to promote and to uphold values centered on harmony, trust and balance in the relationships between consumers and companies.
National Ombudsman Day: celebrated the date for the first time and promoted the second edition of the course of Training for Omdurman Analysts, focused on improving the skills of the professionals who work in
Brazilian Insurance Market | Results and Prospects
used for writing the Report on Ombudsmen´s Offices Activities; its job is to improve the diagnosis of policyholders’ demands and to identify aspects to be improved in the service rendered.
Consumers International World Congress: participated of the 20th edition of the event, which took place in Brasilia. It was the first that this event, put together by the organization - which brings together institutions that work for the defense and empowerment of consumers in 120 countries - took place in Brazil; this was done in honor of the 25th anniversary of the Brazilian Consumer Defense Code.
National Strategy for Financial Education - ENEF: CNseg remained among the sponsors of the ENEF as member of the National Committee for Financial Education - CONEF, and of the Permanent Commission. The insurance market carried out 96 actions, one of them being the sponsorship of the theater play “Suse, Perez, Natália the actuary
CNseg
74 Summary
and the Prize dream�, for 13 secondary schools to create awareness among the young of the importance of insurance as a mechanism of prevention and protection against losses and of complementary pension as a tool for financial planning throughout life.
improve the quality of sales made through the retail network in order to help answer questions and dispel doubts on the part of consumers, making for more enlightened purchase. The manual was sent to partner retail networks and the Procons to increase knowledge and understanding about how the market works.
Microinsurance: promoted the change of the name of the commission in order to align it with the international nomenclature - Commission of Inclusive Insurances, instead of Commission of Microinsurance and Popular Insurance; met with the board of Microinsurance Network - MIN to learn about the work done by the institution; and launched the draft synthesis of the Latin American Map of Microinsurance in the Brazilian market, an initiative that was co-sponsored by CNseg.
Manual of Best Practices for Insurance Salesmen in Retail Organizations: created the Manual in partnership with FenSeg, to
IBOPE survey: promoted a survey to evaluate the understanding on the part of consumers about Extended Warranty insurance. The research showed that 80% of the people interviewed said they knew about or had already heard about Extended Warranty, and were satisfied. However, according to the survey, there is still room for improvement, especially with regard to response time and sales procedures, with an increase in the information to be supplied.
United by Resilience statment: signed the Declaration made during the Third UN World Conference on Disaster Risk Reduction (WCDRR) held in Japan.
The Paris Manifesto: supported the Manifesto, written by the presidency of COP-21, showing the commitment of institutions with the climate agreement signed by the states at the end of the Climate Change Conference in Paris.
Guide to Integrate Environmental, Social and Governance Issues into the Insurance Market: published the Guide that allowed the Confederation to outline topics relevant for the segments of General Insurance, Private Pension and Life, Supplementary Health and Premium Bonds, which were later validated by the respective member Federations.
Infrastructure Opportunities in Brazil: organized a meeting at Lloyd’s of London between authorities of the Brazilian government and investors from European banks and insurance companies to show opportunities for
Brazilian Insurance Market | Results and Prospects
CNseg
75 Summary
investments in infrastructure in Brazil. Executives from the Brazilian insurance market were also present. An institutional folder from CNseg, containing information and excellent data on the sector was distributed at the time.
Legal Action: followed the procedures in 442 lawsuits. Of these, twelve had been direct actions of unconstitutionality - ADINs, one general repercussion suit, two special appeals, fifteen public civic actions, two class actions and four hundred and ten individual lawsuits on policy costs, National Claims Register - RNS, drivers’ register, health, Housing Mortgage Insurance from the National Housing System - SH/ SFH, car, taxes and life.
Lawsuits
442
15
Lawsuits
Public Civic Actions
12
Direct Actions of Inconstitutionality
410
Brazilian Insurance Market | Results and Prospects
Individual lawsuits
Resolution CNSP 243/11: proposed changes in the Resolution to correct ambiguities in the law that deals with administrative sanctions. The entity proved that holding natural people accountable for violating insurance, coinsurance, reinsurance, retrocession and premium bonds rules, regardless of the previous existence of indications of their guilt, was causing embarrassment and discomfort to company managers in the insurance market. This because, under the allegation that the fact would have taken place within their area of activity, natural persons were being penalized for performing their duties before Susep and for being unable to prove malice (willful misconduct) or culpability (negligence, recklessness, or ineptness). In an important step to eliminate uncertainty on how these matters ought to be interpreted, Act 13,195/15, CNSP Resolution 331/15 and Susep Normative Instruction 76/15 were enacted to make quite clear that the law does not compel Susep to first investigate the administrative responsibility of managers, as the previous writing could lead to believe. A fast-track procedure was also created to check the 56 behaviors of an objective nature defined in Resolution CNSP 331/15, in which only legal entities can be punished. The new rules bring greater legal security to all who work in the insurance market.
CNseg Professional Certification - CPC: created the certification program for the insurance market to recognize and improve the technical skills Hot site of the professionals of this sector, based on objective CPC evaluations of their knowledge, bringing them up to the level of mature markets that offer professional certification of different levels and for various activities in the Insurance sector, such as the Chartered Insurance Institute - CII in the United Kingdom, and The Institutes, in the United States. Two hundred and seventy-six people passed the first examination, which represents 20% of the 1,372 applicants who showed up for the test in Rio de Janeiro and SĂŁo Paulo.
CNseg
76 Summary
Market Promotion: participated in two work groups created by Susep –
Corporate Communication: adopted graphical and publishing
The WG Governmental Plan of Action for the Development of the Insurance Industry, which brings together other market stakeholders. This group wrote a report, delivered by Susep to the Ministry of Finance, covering actions to be implemented to boost growth, such as shielding collateral and distribution channels. In turn, the WG Special Advisory Commission for Insurance Markets, Premium Bonds, Reinsurance and Open Supplementary Pension wants to identify the factors that affect the nimbleness of the markets supervised by the autonomous governmental entity.
improvements made in the CNseg Internet Web Portal to add value and broaden the portal´s content, leading to a 20% increase in the number of viewings and 52% more users. Around 830 articles were published, 625,683 pages were viewed, and there were 174.4 thousand visitors. Promoted the publication of 34 articles disseminating its initiatives and topics of interest to the insurance market, such as the Insurance Magazine (Revista de Seguros), the Legal Magazine for Insurance (Revista Jurídica de Seguros), the CNseg in Action (CNseg em ação),the Annual Insurance Market report, the Social Responsibility and Sustainability Report and the corporate folder. Twentythree reports, statements and press releases written by global insurance entities of interest to the Brazilian market were translated.
Environment: signed, with the Ministry of the Environment, the Technical and Financial Cooperation Agreement for the implementation of a Rural Environmental Register. The aim of this agreement is to make feasible the drawing and supply of geo-referenced maps based on satellite pictures of municipalities located in the Cerrado (savanna eco-region) and Atlantic Rainforest biomes. The information gathered with this register will strongly contribute to the proper pricing and development of new insurance products.
“Instituto Ação pela Paz” (Action for Peace institute): became one of the founding partners of the non-profit civil association focused on projects and programs for the recovery and retrieval of the dignity of people who live in prison, former inmates and their family. One of the initiatives is the Semear Program, through which a number of logistic and coordinated actions are implemented to improve conditions for inmates while they serve their sentences by supplying concrete options to allow their re-entry into society, such as educational and labor-related activities in order to prevent relapse or new incarceration.
Brazilian Insurance Market | Results and Prospects
Some of the major publications by CNseg that address topics of interest to the market
CNseg
77 Summary
External Communication: boosted the presence of CNseg as a corporate representative of the insurance sector in the major communication vehicles of the country, in the media specializing in insurance and in specific publications in areas that are of interest to the insurance market. The progress of the so-called Quality Index of Exposure in the Media (IQEM) showed the success of a strategy that has also included relationship-building meetings with publishers and directors of the mass media, technical workshops for journalists, invitations made to journalists for market-related events, organization of press conferences, in addition to speeches and articles written and stances taken, and of the coordination and dissemination of the Antonio Carlos de Almeida Braga Award for Innovation in Insurance.
Hot site Award for Innovation in Insurance
The Antonio Carlos de Almeida Braga Award for innovation in Insurance: had its fifth edition, and gave awards to nine participants in three categories - Products and Services, Processes and Communications. This year, of the 56 projects entered, 52 qualified to compete for the award.
Diversity of discussion themes attracts a crowd to the auditoriums throughout the three days of the event
The 7th CONSEGURO Conference: carried out - among 115 other events that mobilized nearly 18 thousand people, a new biennial edition of the Brazilian Conference on Insurance, Reinsurance, Private Pension and Premium Bonds - CONSEGURO that, for the first time, included five other traditional events of the insurance market, increasing the number of participants to almost a thousand.
Portal CNseg Events
“Onda Carioca”NGO: gave continuity to the partnership with the NGO, reusing material used in the events, such as identification badges and canvas. The 2453 kilos of canvas were transformed into 2500 corporate gifts (tote bags and toiletries bags) that were distributed at several market events.
“Valorizar” Program: implemented and carried out, experimentally, the Professional Value Enhancement Program, created to recognize and The top three ranking for each category of the Award granted at Copacabana Palace Hotel
Brazilian Insurance Market | Results and Prospects
CNseg
78 Summary
to value employees who have a positive performance and add value to the company´s revenue; to consolidate career goals, allowing employees to plan ahead and develop while keeping their focus on their goals; to develop close professional bonds in the relationship between manager and employees; and to install and manage an environment conducive to the development of business.
evaluation criterion based on the net value of credit and liabilities linked to the operation.
Revenue recognition: Susep accepted CNseg´s request to talk over the model used to characterize the triggering event of revenue in risk operations and accrual, proposed by the regulating agency, in 2014, considering that this did not contemplate all the accrual products.
“TVElevador” (Lift TV communication): created the new communication channel for the Insurance Companies’ Building in partnership with the Brazilian National Insurance School and the insurance company, Seguradora Líder DPVAT, launched in November. In addition to news from the Insurance market, information is also displayed about events, the economy, the traffic and the cultural agenda, among other topics. The coordination of this means of communication is CNseg´s responsibility.
“Se liga”campaign (“Get wired”campaign): continued to promote the campaign which is part of the National Traffic Assistance Program - PNAT, a permanent project of CNseg´s. In partnership with state-level traffic agency, Detran, educational flyers and of stickers with the safe-driver “check-list” were distributed across the states.
“Movimento Paulista de Segurança de Trânsito – Vida” (São Paulo Traffic Safety Movement). “Dê preferência” (Give Way movement): continued to support the governmental program of State of São Paulo, whose main goal is to reduce by half the number deaths due to traffic accidents in the State by 2020. The actions are focused on traffic education, safety in roads and vehicle security, as well management of response to accidents.
Impairment Register for credit operations: consulted Susep on disagreements over the register, since the market adopted the
Brazilian Insurance Market | Results and Prospects
Assumption of Risk by the insurance representative: Susep accepted the new issuance term for insurance sold through retail networks.
Deferrable Acquisition Costs - DAC: the suggestion was sent to Susep to treat deferred compensation due to senior management in the same way deferred brokerage costs are treated, considering them as a risk-reducing asset in the need for coverage. The agency was amenable to pursue the discussion.
Chart of accounts: a study was sent to Susep for analysis on modifications to be made to the plan. The possibility of implementing it or using it as a basis for the changes that will come with the coming into force of phase II of the IFRS4, forecast for 2018 is being contemplated.
Periodic Information Form - FIP: the formulation of a governance model was proposed to Susep dealing with changes in the personnel. There has been no formal answer yet about the suggestion.
Susep Circular 509/15: a suggestion was sent to Susep for the registration, custody and transaction of assets, and marketable securities guaranteeing technical reserves should be entered at their book value for purposes of coverage. However, Susep Circular 509/15, which regulates the matter, stated that these should be entered at their market value.
CNseg
79 Summary
Adjusted Net Shareholders’ Equity - PLA: a discussion was held with the autonomous government agency on criteria that could make the PLA more sensitive to the variations in interest rates.
Optional Third Party Motor Insurance - RCF-V: studies were sent to Susep on the consequences of the sales of coverage for Optional Third Party Motor Insurance - RCF-V, separated from the coverage for Personal Automobile Own Damage, signaling the need to review the rules in effect. The agency did not answer back.
Database for the calculation of Market Risk: the impact on companies that implement an out-of-step Liability Adequacy Test was discussed with Susep. When the data was sent for calculation of Market Risk, CNseg´s proposal to change the deadline for submission was accepted.
Inter-American Federation of Insurance Companies - Fides: created and coordinated a Solvency Workgroup to share experiences on solvency systems of the countries represented by the Federation and the processes of adjustment to Riskbased Capital. It also participated in the visual and content upgrade of the Federation Web site and published FIDES Report 2014-2015, covering the period during which the entity was under the management of Marco Antonio Rossi.
Hot site FIDES
Social Contribution on Net profits - CSLL: a request was made to the Federal Revenue Service to publish rules that will regulate proportionality in the application of the increased CSLL rate.
Internal Controls: a study was made on the impacts of the so-called Compliance Costs for the insurance market, showing the weight of expenditures to keep up daily operations in companies.
Internal Audit x External Audit: Susep was warned about overlapping audits (Internal and External) in legal frameworks, and a request was consequently made for the review of Circulars 249/2004, 280/2004 and Resolution CNSP 118/2004.
Investments: proposals were made for an environment favorable to investments in infrastructure by insurance companies, and a proposal was made to amend Resolution CMN 3308/2005, in addition to the assessment of the impact of Resolutions CMN 4,402/15 and 4,444/15.
Brazilian Insurance Market | Results and Prospects
As Marco Antonio Rossi’s term at FIDES ends, he addresses audience in Chile about the past, the present and the future of the industry
CNseg
80 Summary
Solutions The solutions supplied by CNseg, through its Service Center and Insurance Protection - CESER, to companies in the insurance market contribute to a better policy of risk underwriting, pricing, regulation and payment of indemnities, as well as compliance with the requirements of regulating agencies and the prevention and combat of fraud. Please see below the list of available solutions:
Solutions that use databases from the insurance market (data sharing)
Database of Vehicles Insured with Unrecoverable Full Indemnity Claims | BDSII: Supplies information about accident-
system) and made available by the Federation to affiliated companies . Source: Premium Bonds Companies.
damaged vehicles which are the object of an unrecoverable full indemnity. This database is also available for public consultation through the Federal District Detran Web site and security agencies. Source: Insurance companies.
Car Bonus Center | CB-Auto: Makes it possible for insurance companies to check among themselves the bonus class of their customers. Source: Insurance companies.
Premium Bonds: Data Collection System | SCD - Makes it possible for Premium Bonds companies to monthly send FenaCap their operational and financial data, which is then consolidated in the Dataseg (statistics
Brazilian Insurance Market | Results and Prospects
Verification of Car Insurance Policies: “Pátio Legal” (Legal Yard) | SCA PL - Allows access, through the company operating Pátio legal,
CNseg
81 Summary
to the database of holders of car insurance policies for purposes of information to the insurance company on the recovery of an insured vehicle. Source: Insurance companies.
“Fronteiras” Project (Borders project) | Sinivem: makes it
Car Insurance Policy Verification- Compensation | SCA Auto: Allows the insurer for purposes of loss compensation to identify
possible to identify vehicles passing through ten sites, showing in real time to the Federal Road Police if the vehicles are in an irregular situation, if they were stolen or should be monitored for any other reasons. It is used by over 95 thousand public security officers, benefiting the whole of society. Source: Insurance companies.
the counterpart that owns the third party car insurance policy. Source: Insurance companies.
National Register of Proposals and Policies | RNPA: Allows
Management of Car Loss Compensation | GR Auto: Developed through the evolution of SCA-Auto, the system allows, in addition to the identification of the counterpart, the automation and control of the loss compensation process for the car between the insurance companies involved. Source: Insurance companies.
DPVAT | Paid Insurance Certificates: Consultation of
the database of paid insurance certificates for the Compulsory Vehicle Liability Insurance -DPVAT, which makes available information about paid certificates (per VIN and plate) and the owner (per name and individual/corporate Taxpayer Number). Source: Seguradora Líder.
DPVAT | Claims settled: Consultation of the database on losses compensated by the compulsory vehicle liability insurance. Source: Seguradora Líder.
proposals and policies of the several lines of business in the insurance market to be registered, making it possible to see if there is risk accrual and indications of fraud in analyses of risk underwriting and regulation of losses by insurers. Source: Insurance companies.
National Claims Register | RNS: Makes it possible to affiliated insurance companies to share claim data between themselves, notifying them when there are coincidences between claims and assisting in the evaluation of the insured risk and in the prevention of fraud in insurances. Source: Insurance companies. Available for the following segments: RNS Credit and Surety Bonds; Agricultural RNS; RNS Transports; RNS Property Risks; RNS People; RNS Car.
Data Collection on Human Resources Indicators | SCDRH: A tool that makes it possible to electronically collect data and write periodic reports on data to be used for compiling market HR statistical panels . Source: Companies affiliated with the Federations.
Market Statistics | Dataseg: Supplies statistical data pertaining to the market of Insurance, Private Pension, Supplementary Health and Premium Bonds by means of a business intelligence tool - BI, that allows CNseg and the Federations to develop studies, surveys, and write reports on the sector´s financial and quantitative data. Source: Susep, ANS and companies affiliated with the Federations.
Brazilian Insurance Market | Results and Prospects
Management Data Assignment | PCDG: A system for compiling management statistics on the insurance market, of interest to Brazilian society, to add value to the affiliated companies through the writing of reports in which comparisons with the market are made. Also provides regular reviews on the quality of the information. Source: Susep, ANS and companies affiliated with the Federations.
CNseg
82 Summary
Statistics Portal: The portal supplies consolidated statistics on
Ombudsman Offices - Data Collection System | SCD: A tool
the market of Insurance, Private Pension, Supplementary Health and Premium Bonds based on a business intelligence tool that allows affiliated companies to use the data obtained to write the Interactive Report, the Statistics Report and the Income Projections. Source: Susep, ANS and companies affiliated with the Federations.
that makes it possible to electronically collect data and write periodic reports on the demands of customers received by the ombudsman´s offices of the companies which are part of CNseg´s Ombudsman Commission.
Solutions based on sources outside the insurance market Database of Blocked Telemarketing Calls | SIBLOQ: Makes
National Manufacturing Index Database | BIN Fabril: Makes
available, in a unified and standardized way, the telephone numbers of consumers who do not wish to be bothered by telemarketing calls. The source of the data is the request registered by the citizen´s themselves with the State and Municipal Procons -- Consumer protection agencies-where the “Do not Disturb Act” is in force. Source: Procons.
it possible to get technical and manufacturing features of domestic or imported vehicles, with updated information from public agencies. Source: Denatran.
National Sate Index Database | BIN Estadual: Makes it possible
on police reports of theft and robbery. The database update takes place daily at the end of the day. Source: Denatran.
to get technical data on vehicles in the State where they are registered. Along with all the information, all the data of the BIN Manufacturer, plate, fines and default on payment of IPVA tax/DPVAT certificate are also to be found. Source: Detran agencies.
Vehicles Database | BDV: Makes available information on vehicle
National Index of Robbery and Theft Database | BIN RF:
manufacturing features. The update of the database is done daily at the end of the day. Source: Denatran.
Makes available information on robberies and theft of vehicles: all Police Reports on Robbery/Theft, the location alerts, recovery and return to the owner with updated information from public agencies. Source: Denatran.
Stolen Vehicles Database | BDRF: Makes available information
Brazilian Insurance Market | Results and Prospects
CNseg
83 Summary
National Death Record Database | SINOB: Makes available information on deaths records sent by Notary’s offices of Civil Registries across Brazil. Source: Dataprev.
for purposes of statistics, identification of the cause of accidents and combat of fraud. Source: PMERJ.
Prevention of Money laundering | SIPLAV: Aims at providing Support Services Suppliers Register | CPSA: Allows suppliers of support services to the insurance market to register and keep their information up to date for purposes of consultation by the market. Source: direct register of suppliers.
Data Confirmation | SICON: Allows the individual or corporate taxpayer number to be validated; checks the registry status and obtains more information on natural and legal persons. Source: Federal revenue Service.
information for compliance with Susep Circular 445/12, which provides for the use of specific internal controls to prevent and fight crimes of money laundering or concealment of assets, rights and valuables. It also follows up operations carried out, and proposals of operations with politically exposed persons. This solution has currently two modules: Financial Register data and Information on Politically Exposed Persons. Source: Boavista Serviços. Reformulated under the guidance of the CNseg´s Internal Controls Commission and relaunched in 2013.
BAJ - Lawsuit database – SNH-National Housing System: Licensing database: Database of vehicles made available by Cetip, with information on the manufacturing features of vehicles and licensing. Source: CETIP.
Encumbrances | SNG: Database made available by Cetip, which controls vehicles pledged as collateral to the bank, until the register is canceled by the financial agent who first included it in the system. Source: CETIP.
VIN Decoder | VIN Chassis: makes it possible to decode the VIN of a car, such as: translating the numbers, information from the FIPE Table, pictures of the VIN and whether the vehicle is registered in the recall database. Source: CESVI.
E-BRAT Queries - Electronic Victimless Traffic Accident Report: Allows insurance companies to have access to information regarding traffic accidents without victims in the State of Rio de Janeiro
Brazilian Insurance Market | Results and Prospects
A system managed by the Federal savings bank (Caixa Econômica Federal) in its position as Administrator of the FCVS, the Wage Variation Compensation Fund, that contains information on all legal actions involving the SFH Housing Mortgage Insurance, and can serve several purposes, among which are: (i) the identification of potential financial losses for the FCVS (Ministry of Finance) in the lawsuits pending in the legal system and in which the coverage of the extinct Insurance Policy of the SFH (National Housing System) is being discussed, information to the lawyers of insurance companies that make it possible to identify aspects for the defense, including the detection of lis pendens. Source: Caixa Econômica Federal (Federal government Savings Bank).
Motor Vehicle Legal Status Identification System | IRV: Through an agreement with the Public Security Secretariat of the State of Pernambuco, the system allows the monitoring of vehicles and mobile equipment for purposes of identification of irregular vehicles by police authorities. Source: Intelligência XXI.
CNseg
84 Summary
Employment Bond Verification System | SIVVE Online:
SMS/E-mail sending System: A system that sends text messages
Checks the employment bond between companies and their employees through the Ministry of Labor’s General Registry on Employment and Unemployment - CAGED and the Annual Report on Social Information - RAIS. Source: Ministry of Labor and Employment
and emails, and can be directly triggered by the insurance companies´ system. It is used by FenaPrevi´s Electronic Document Exchange System - SIDE, to send customers official notices on their Request for Portability - CPP. Source: companies affiliated with FenaPrevi that work in the Private Pension segment.
SIVVE Business intelligence System| SIVVE In: The Employment Bond Verification System - Business Intelligence system has access to CAGED and RAIS databases (Ministry of Labor and Employment) and other public sources, thereby making available information on companies, people, employment relationships and corporate structure, among other things to enable analyses that will maximize results along several points of the value chain in the insurance market.
Issuance of Certificates | SEC: A system that issues certificates available in CNseg and the Federations.
Prevention and fight against Fraud Fraud Quantification System | SQF: This is CNseg´s
Report SQF
institutional tool for the collection and compilation of data needed to build indicators for the quantification of fraud. Through this system, fed since 2004 by Insurance companies
Brazilian Insurance Market | Results and Prospects
from all lines of insurance (except Supplementary Health and Open Complementary Private pension) insurance fraud indicators are annually generated, and a previously unseen historical series of these occurrences is being created.
Confidential Documents System | SDC: A channel used by CNseg to adequately receive and deal with denunciations received though Disque-Denúncia, the whistle-blowing line.
CNseg
85 Summary
Organizational structure
Shareholders’ meeting Ultimate governing body in CNseg´s hierarchical structure, composed by the CEOs of the four affiliated Federations and headed by the CEO of CNseg. Board of Director Marco Antonio Rossi
CNseg – Confederação Nacional das Empresas de Seguros Gerais, Previdência Privada e Vida, Saúde Suplementar e Capitalização (up to 10/11/2015)
Jayme Brasil Garfinkel
CNseg – Confederação Nacional das Empresas de Seguros Gerais, Previdência Privada e Vida, Saúde Suplementar e Capitalização
Paulo Miguel Marraccini
FenSeg – Federação Nacional de Seguros Gerais
Marcio Serôa de Araujo Coriolano
FenaSaúde – Federação Nacional de Saúde Suplementar
Osvaldo do Nascimento
FenaPrevi – Federação Nacional de Previdência Privada e Vida
Marco Antônio da Silva Barros
FenaCap – Federação Nacional de Capitalização
Brazilian Insurance Market | Results and Prospects
CNseg
86 Summary
Board of Directors A governing body composed of up to 28 members, who answer for the general direction and management of CNseg in compliance with guidelines set by the General Shareholders’ Meeting. Board of Director - President Marco Antonio Rossi
Bradesco Seguros S/A (up to 10/11/2015)
Jayme Brasil Garfinkel
Porto Seguro Cia. de Seguros Gerais (as of 11/11/2015)
Board of Directors - First Vice-president Jayme Brasil Garfinkel
Porto Seguro Cia. de Seguros Gerais (up to 10/11/2015)
Patrick Antônio Claude de Larragoiti Lucas
Sul América Companhia Nacional de Seguros (of 11/11/2015)
Board of Directors - Vice-presidents Mário José Gonzaga Petrelli
Icatu Seguros S/A (up to 10/11/2015)
Patrick Antônio Claude de Larragoiti Lucas
Sul América Companhia Nacional de Seguros
Board of Directors - Ex-officio Vice-presidents Paulo Miguel Marraccini
Federação Nacional de Seguros Gerais
Marcio Serôa de Araujo Coriolano
Federação Nacional de Saúde Suplementar
Osvaldo do Nascimento
Federação Nacional de Previdência Privada e Vida
Marco Antônio da Silva Barros
Federação Nacional de Capitalização
Acacio Rosa de Queiroz Filho
Chubb do Brasil Cia. de Seguros
Alexandre Corrêa Abreu
Brasilprev Seguros e Previdência (up to 25/02/2015)
Alexandre Malucelli
J. Malucelli Seguradora de Crédito S/A
Alfredo Lalia Neto
HSBC Vida e Previdência S/A
Edson Luís Franco
Zurich Seguros S/A
Francisco Alves de Souza
COMPREV Vida e Previdência S/A
João Francisco Silveira Borges da Costa
HDI Seguros S/A
Jorge Hilário Gouvêa Vieira
Sul América Companhia Nacional de Seguros
Luiz Eduardo Loureiro Veloso
Itaú Seguros S/A (as of 21/05/2015)
Brazilian Insurance Market | Results and Prospects
CNseg
87 Summary
Continuação
Board of Directors - Ex-officio Vice-presidents Marcelo Augusto Dutra Labuto
Brasilprev Seguros e Previdência (as of 21/05/2015)
Nilton Molina
Mongeral AEGON Seguros e Previdência S/A
Pedro Cláudio de Medeiros Bocauyva Bulcão
Sinaf Previdencial Cia. de Seguros
Pedro Pereira de Freitas
American Life Companhia de Seguros S/A
Thierry Marc Claude Claudon
Caixa Seguradora S/A
William Allan Yates
Prudential do Brasil Seguros de Vida S/A
Wilson Toneto
Mapfre Seguros S/A
Board of Directors - Ex-officio Director Luiz Tavares Pereira Filho
Fenaseg
Supervisory Board A body that monitors and supervises CNseg´s financial and accounting management and is composed of three full members and up to three alternate members elected by the Shareholders´General meeting. Supervisory Board - Full Members Haydewaldo Roberto Chamberlain da Costa
Bradesco Seguros S/A
José Maria Souza Teixeira Costa
Companhia de Seguros Aliança da Bahia S/A
Júlio Cesar Rosa
HDI Seguros S/A
Supervisory Board - Alternate Members Laênio Pereira dos Santos
Sul América Seguros de Pessoas e Previdência S/A
Lúcio Antonio Marques
Nobre Seguradora do Brasil S/A
Brazilian Insurance Market | Results and Prospects
CNseg
88 Summary
Works Council A strategic advisory body composed of up to 35 members, who may, or may not, be part of the segments represented and are indicated by the Board of Directors to assist in the achievement of goals and prerogatives of CNseg. Works council - Ex-officio Members
Works council - Leading specialists
Marco Antonio Rossi
President of the Confederation
Alberto Oswaldo Continentino de Araújo
CNseg
Jayme Brasil Garfinkel
1st Vice-president of the Confederation
Eduardo Baptista Vianna
CNseg
Paulo Miguel Marraccini
President of FenSeg
João Elisio Ferraz de Campos
Centauro Vida e Previdência S/A
Osvaldo Nascimento
President of FenaPrevi
Jorge Hilário Gouvêa Vieira
CNseg
Marcio Serôa de Araujo Coriolano
President of FenaSaúde
José Américo Peón de Sá
CESCEBRASIL Seguros de Crédito S/A
Marco Antônio da Silva Barros
President of FenaCap
Works council - Indicated by the Board of Directors
Works council - Unions affiliated with Fenaseg
Acácio Rosa de Queiroz Filho
Chubb do Brasil Cia. de Seguros
SindSeg MG, GO, TM and DF
Augusto Frederico Costa Rosa de Matos
Carlos dos Santos
Alfa Seguradora S/A
SindSeg PR and MS
João Gilberto Possiede
Mário José Gonzaga Petrelli
Icatu Seguros S/A
SindSeg BA, SE and TO
João Giuseppe Silveira Leite Esmeraldo
Nilton Molina
Mongeral AEGON Seguros e Previdência S/A
SindSeg RS
Júlio César Rosa
Patrick Antônio Claude de Larragoiti Lucas
Sul América Companhia Nacional de Seguros
SindSeg SP
Mauro César Batista
Pedro Pereira de Freitas
American Life Companhia de Seguros
SindSeg NNe
Múcio Novaes de Albuquerque Cavalcanti
Pedro Purm Junior
Argos Seguros Brasil S/A
SindSeg SC
Paulo Lückmann
Thierry Marc Claude Claudon
Caixa Seguradora S/A
SindSeg RJ and ES
Roberto de Souza Santos
Francisco Caiuby Vidigal Filho
Yasuda Marítima Seguros S/A
Sinapp
Francisco Alves de Souza
Brazilian Insurance Market | Results and Prospects
CNseg
89 Summary
Ethics Council An advisory body, composed of 11 members, responsible for overseeing the correct interpretation and compliance with the Code of Ethics rules for the Market of Insurance, Complementary Private Pension, Supplementary Health and Premium Bonds. In 2015, the composition of the Ethics Council was changed so that two vacancies for council members were filled by leading specialists of renowned expertise with no employment relationship with the insurance companies.
Ethics council - President Carlos André Guerra Barreiros
Seguradora Líder dos Consórcios do Seguro DPVAT
Ethics council - Vice-President Celso Luiz Dobarrio de Paiva
Alfa Seguradora S/A
Ethics council - Council members Bento Aparicio Zanzini (mandato renovado)
Mapfre Vida S/A
Carlos Infante Santos de Castro (mandato renovado)
Sul América Capitalização S/A
Luiz Tavares Pereira Filho (mandato renovado)
Fenaseg
Marco Antonio Gonçalves (mandato renovado)
Bradesco Auto/Re Companhia de Seguros
Max Joaquin Ernesto Thiermann Weller (até 30/06/2015)
Allianz Seguros S/A
Nilton Molina
Mongeral AEGON Seguros e Previdência S/A
Pedro Purm Junior (mandato renovado)
Argos Seguros Brasil S/A
Sidney Gonçalves Munhoz (até 30/06/2015)
Chubb do Brasil Cia. de Seguros
Pedro Cláudio de Medeiros B. Bulcão
Sinaf Previdencial Cia. de Seguros
Ethics Council – Leading Specialists with Renowned Expertise José Américo Peon de Sá
Actuary
Julio Bierrenbach
Lawyer and former insurer
Brazilian Insurance Market | Results and Prospects
CNseg
90 Summary
Member Federations CNseg is composed of four Federations that represent the companies that are part of the segments of General insurance, Private Pension and Life, Supplementary Health and Premium Bonds.
Summary
FenSeg The Brazilian General Insurance Federation centers its efforts on the development of activities specific to the lines of insurance in the segment known as “damage and loss insurance�.
Brazilian Insurance Market | Results and Prospects
Regarding the Federation
Companies affiliated
FenSeg
92 Summary
A WORD FROM THE PRESIDENT/CEO
Results and Prospects Of all this, the Car insurance line achieved a revenue of BRL 32.5 billion, showing a slight 3.5% increase in comparison with 2014. Paulo Marraccini
T
he Brazilian General Insurance market registered premiums amounting to BRL 68.8 billion, a growth of 5.3% compared to the previous year. Of all this, the Car insurance line achieved a revenue of BRL 32.5 billion, showing a slight 3.5% increase in comparison with 2014. Such a performance was partly influenced by the economic situation of the country, especially due to the 35.6% decrease in sales of light-duty commercial vehicles and leisure cars in the quarterly comparison. Second most important group of insurance lines in the General Insurance market, Property Risk insurance - in which are included Large Risks, Engineering Risks, Extended Warranty and Retail portfolios – achieved a revenue of BRL12.7 billion, a small 3.8% increase in 2015. In terms of performance through the year, three segments have distinguished themselves by their growth, showing a significantly increase compared to the two previously mentioned insurance lines. They are: Rural Insurance, with a 13% increase in premiums; Housing Mortgage Insurance, with a 17.6% increase, and Credit Insurance and Surety Bond, with a 22.3% increase.
Brazilian Insurance Market | Results and Prospects
With regard to Rural Insurance, the product benefited from the priority given by the Federal Government to the financing of rural producers, an initiative reflected in the demand for coverage. On another front, despite the strong retraction in the amount of funding, the Housing Mortgage Insurance showed in its performance the influence of the adjustment for inflation in installments that follow the adjustments in wages. In turn, Credit insurance and Surety Bond were positively affected, benefiting from their inclusion among the modalities of surety bonds in tax foreclosure proceedings. For 2016, given the expectations that economic indicators will continue to point to an economic downturn, some insurance lines that make up the General Insurance market should keep on feeling the effects of credit crunch and decrease in people´s income. It is therefore crucial that insurance companies continue to look for opportunities so they can keep working in an innovative and creative way to help the country get back on the path of sustainable development.
FenSeg
93 Summary
Continuous growth The segment of General Insurance issued in 2015 an amount of premiums of the order of BRL 68.8 billion, which was 5.3% more than what was made in 2014. Motor insurance still is the flag-ship, with BRL 32.5 billion in premiums, representing a 3.5% increase compared with the amount for the same period of the previous year, and a 47.3% participation in the sector´s total amount of premiums. The main highlight of 2015 was the Surety Bond portfolio with its 37.4% increase in comparison with the previous year, the amount of premiums having reached 1.7 billion against 1.2 billion. The increase of Rural Insurance, whose premiums reached BRL 3.3 billion, a 13% increase, was also significant when compared to 2014.
Premium highlights
Another highlight was the Housing Mortgage Insurance, which registered a 17.6% increase in 2015, with premiums reaching BRL 3.1 billion against BRL 2.6 billion the year before.
Increase compared to previous year.
Surety
BRL$1,7 billion
Housing
BRL$3,1 billion
Rural Car
BRL$3,3 billion BRL$32,5 billion
Others
For 2016, given the adjustments to be made in the economy, the market expects a continuous nominal increase of numbers of issued premiums, but in lower percentages. The change in legislation that allowed the inclusion of the Court Surety Bond in tax foreclosures will continue to determine the increase of the Surety Bond portfolio in 2016. The motor Insurance portfolio should present an increase similar to that of 2015.
37,4% 3,5% 13% 17,6%
It is worth noting that the Rural Insurance portfolio, depending on the allocation of resources for the subvention of rural producers’ premiums,
Brazilian Insurance Market | Results and Prospects
FenSeg
94 Summary
should show good results since a grant-in-aid of BRL 741 million has been provisioned in 2016 for this kind of subsidy. With regard to indemnities paid during 2015, the total amount of which reached BRL 37.9 billion, representing an increase of 11.1% against the BRL 34.1 billion paid in 2014, it is worth noting that:
a. in the Motor line, indemnities represented 53.8% of this amount, reaching BRL 20.4 billion, an amount that shows a 3.8% increase over the BRL 19.7 billion paid in 2014; and
b. in the Transport line and in medium/large risks line, they reached BRL 1.9 and BRL 1.8 billion, a 3.9% and 2.5% decrease, respectively, when compared with indemnities paid in 2014.
Key institutional actions Motor Vehicles Dismantling Act: a cycle of lectures was promoted, in partnership with Fenacor and ENS, in the states of São Paulo, Rio de Janeiro, Paraná, Rio Grande do Sul, Pernambuco, Minas Gerais, Federal District, Mato Grosso, Espirito Santo and Bahia to show the importance and benefits of the laws.
Hearing on the Vehicle popular Insurance: participated of Susep´s public hearing to hear the market on the draft of the CNSP Resolution that regulates the popularly positioned car insurance, sending suggestions about the rule to be approved by the autonomous government agency.
Subvention for Rural insurance: followed up on the problems presented in this portfolio, bearing in mind the temporary tightening in the release of funds.
Extended Warranty: encouraged the immediate implementation of the recommendations of the regulations promoted by Susep for sales made by insurance representatives and participated in events,
Brazilian Insurance Market | Results and Prospects
side by side with consumer protection agencies, to ratify the market´s compliance with the new rule. Shortly afterwards, the third booklet of the series “Understanding Extended Warranty Insurance: Guidelines for Consumers” was published, to explain, in a simple and direct language, the main features of this insurance. The Retail Manual of Best Practices, also published, explains the procedures to be followed by insurance representatives when supplying their products to consumers.
Surety Bonds: an event was conducted in Brasilia directed at the State Attorneys’ Offices and the Office of the Attorney General of the Ministry of Finance to supply all the elements that would allow tax foreclosing agencies to analyze the product so they can accept it as a guarantee of procedures. From then on, it was made clear that an explanatory booklet along the lines of the series “Understand insurance” should be written for distribution among Federal and State attorneys, and members of the Judiciary body, so that, due to lack of knowledge, they do not limit the acceptance of this type of guarantee. Another important action was a study showing that, by means of insurance, insurers will be able to
FenSeg
95 Summary
complete works in case an accident occurs along the way. If approved, this will ensure a new step forward for Surety Bonds in Brazil.
Housing Mortgage Insurance: two technical seminars were promoted, the first specifically directed at the operations aspects of insurance companies; the second, broader, centered on professionals at the managerial level who work for insurance companies, as well as financial agents, who develop the policies. An explanatory booklet was also written, the fourth in the series “Understand Insurance,” to explain and disseminate Housing Mortgage Insurance in clear and simple words,
standardizing procedures to improve the recovery levels against utility companies; the second, on “Condo Underwriting,” intends to set standards for the analysis and acceptance of risks; and the third, on “Standardization of Inspection Reports,” is aimed at the development of standards that can meet the needs of all insurance companies and create the basis for a future database to be used by insurance companies that join the project.
Liability Insurance: two events were organized: “III International Meeting of Financial Lines insurance (D&O and E&O)” and the “First Civil Liability Seminar”. Both had the support of ENS and the Brazilian Risk Management Association - ABGR.
Homeowners Insurance: studies were promoted based on Susep and IBGE data that for the first time allowed a glimpse of the rate of penetration of homeowners insurance per state and, in a more consolidated form, in the five regions of Brazil. Moreover, an explanatory booklet called “Understands Homeowners Insurance” was also published to disclose in a clear and transparent way all the information pertaining to this type of policy, highlighting as well the differences between the Homeowners Insurance, the Condo insurance and the Housing Mortgage Insurance. Three important explanatory documents are also being written: the first deals with “Electric Damages” and is aimed at rationalizing and
Property Insurance - Large Risks: two seminars were organized directed at the technical staff of Insurance companies; the first was on reinsurance, and the second on quality of risks. FenSeg also took part, with Inmetro (Brazilian Institute of Metrology, Quality and technology), in the discussions and studies for the formulation of Technical Guidelines for Thermal and Acoustic Insulation in Civil Construction, setting mandatory specifications for the products to be made available on the domestic market. FenSeg also participated in the debates organized by the Fire Safety Parliamentary Front.
Functional Commissions FenSeg´s eleven functional commissions give significant support to the Board, evaluating matters linked to their respective areas of performance. They are: Legal Matters; Car; Extended Warranty; General Civil Liability;
Brazilian Insurance Market | Results and Prospects
Credit Risks and Surety Bonds; Engineering Risks; Property Risks- Large Risks; Retail Property Risks ; Homeowners insurance; Rural insurance; e Transportation insurance.
FenSeg
96 Summary
FenSeg Board | 2013 – 2016 President Paulo Miguel Marraccini
Allianz Seguros S/A
Vice-president Eduardo Stefanello Dal Ri
Sul América Companhia Nacional de Seguros
José Sérgio Bordin
Bradesco Auto/RE Companhia de Seguros
Luiz Alberto Pomarole
Porto Seguro Cia. de Seguros Gerais
Marcos Eduardo dos Santos Ferreira
Mapfre Seguros Gerais S/A
Director Acacio Rosa de Queiroz Filho
Chubb do Brasil Cia. de Seguros
Antonio Eduardo Márquez de Figueiredo Trindade
ACE Seguradora S/A
Carlos Adrian Magnarelli
Liberty Seguros S/A
Francisco Caiuby Vidigal Filho
Yasuda Marítima Seguros S/A
Gustavo Henrich
J. Malucelli Seguradora S/A
Hélio Hiroshi Kinoshita
Mitsui Sumitomo Seguros S/A
Hyung Mo Sung
Generali Brasil Seguros S/A
João Francisco Silveira Borges da Costa
HDI Seguros S/A
Leon Gottlieb
Itau Seguros
David Colmenares
Zurich Minas Brasil Seguros S/A
Luiz Felipe Smith de Vasconcellos
Tokio Marine Seguradora S/A
Miguel Perez Jaime
Allianz Seguros S/A
Ricardo Cruz Barreto
Cardif do Brasil Seguros e Garantias S/A
Executive Director Neival Rodrigues Freitas
Brazilian Insurance Market | Results and Prospects
FenSeg
97 Summary
FenaPrevi The National Federation of Private Pension and Life brings together and represents companies and entities that operate in the Private Pension and Universal Life segments. Its purpose is to strengthen the economic segments in which its affiliates are present, contributing to the economic and social development of the country.
Brazilian Insurance Market | Results and Prospects
Regarding the Federation
Member Companies
FenaPrevi
98 Summary
A WORD FROM THE PRESIDENT/CEO
Overcoming challenges The year of 2015 was marked by the expectation of seeing the Personal Lines of Business Insurance plan, known elsewhere as “Universal Life Insurance” regulated.
A
lmost at the turn of the year, Susep placed in public consultation a draft of the CNSP Resolution settings forth the “rules and criteria for the structuring, sale and operation of Universal Life Insurance,” FenaPrevi having presented several suggestions for its improvement. The regulation of this type of Personal Lines of Business Insurance is being expected by the market since FenaPrevi filed an official document with Susep with suggestions for improvements on the draft of the Regulation. The said insurance has several features, the main one being the fact that it makes possible the interaction of risk protection (coverage) with the accrual and capitalization of funds. Moreover, since its structure is more flexible, the insurance will be able to properly meet the needs of a diversified target audience. In the segment of pension plans that aim at the accrual and capitalization of funds, continuity was given to the efforts towards regulation of the so-called “VGBL Health,” since FenaPrevi believes in its potential as an important means of building domestic savings in the medium and long term. This not only aims at the complementation of the retirement pension supplied by the Social Welfare system, but also gives people the possibility to have funds to keep their private insurance and private plans
Brazilian Insurance Market | Results and Prospects
Osvaldo do Nascimento for the safety of their health, thereby contributing to the sustainability of the segment of Supplementary Health. It is important to document the enactment of CMN Resolution 4,444, which was the outcome of long and intense discussions about the rules regarding the investment of reserves, provisions and funds of insurance market entities. In this sense, the resolution already considers specific provisions linked to open private pension plans that are exclusively aimed at “eligible participants,” opening the way towards its future regulation by CNSP. It is fitting to record a special reference to Marco Antonio Rossi and Lúcio Flávio Conduru de Oliveira, for their dedication to the development of the segments represented by FenaPrevi, which are important social safety nets and the tools that promote economic activity in the country. The year of 2015 was marked by great challenges, and next ones will also be, but FenaPrevi will continue working to overcome them. The new Statutory Management Board of the Federation presided over by Edson Luis Franco and elected in 2015 for the 2016-2019 mandate will remain committed to Brazilian society and the economic and social development of the country.
FenaPrevi
99 Summary
Major institutional initiatives A FenaPrevi has conducted studies advocating the non-applicability of ITD - the Brazilian State Tax on inheritance and Donation of Any Assets or Rights - on Open Complementary Pension and Universal Life Plans with survivor coverage.
Segregate Estate: brought up to date the draft of the bill presented to Susep in 2005, with a view to send it to Congress, as it is understood to be an important tool to protect consumers’ interests.
Biometric Mortality Tables: Susep approved the BR-EMS Universal Life: Suggestions were sent to Susep´s Public Consultation 08/15 referring to the draft of the CNSP Resolution that makes provisions “on rules and criteria for structuring, selling and operating Universal Life Insurance.”
biometric mortality tables BR-EMS, 2015 version, with onset of validity in 01/07/2015, formulated on the basis of a study ordered by FenaPrevi to the Mathematics Laboratory of the Federal University of Rio de Janeiro - UFRJ.
VGBL Health: participated in meetings held with the Executive and
LAT/TSIR: proposals were sent to Susep to mitigate the effects of
the Legislative bodies to support approval of PLC 118/15.
Resolution CMN 4,444/15: took part in the discussions that led to the enactment of the rule that governs the investment of funds for provisions of regulated entities and regulates the extension of the remaining stated periods and repricing of fixed income portfolios of financial investment funds pegged to plans of the PGBL and VGBL (private retirement savings schemes) type, and governs the investment of funds in plans aimed at “eligible participants”.
Brazilian Insurance Market | Results and Prospects
volatility of TSIR- Term Structure of Interest Rates in the checking of the LAT Liability Adequacy Test and, consequently, on the results of companies, especially insurance companies who deal with traditional Open Complementary Pension plans.
FATCA: participated, jointly with CNseg, of meetings that resulted in the enactment of the Brazilian Federal Revenue Service´s Normative Instruction nº 1.571/15, which provides for the mandatory supply of information regarding financial operations of interest.
FenaPrevi
100 Summary
Tax on Inheritance and Donation of any Assets or Rights ITD: conducted studies advocating the non-applicability of the tax on open
Suitability Recommendations for Private Pension Plans with Survivor Coverage: a document was produced
Complementary Pension and Universal Life plans with survivor coverage.
recommending that full member companies comply with suitability criteria when complementary pension plans with survivor coverage are bought as well as during follow-up through time, in order to adjust to customers’ evolving profile and changes in goals.
Guide of Good Practices for Simulators: a document was produced recommending to full member companies, at their discretion, the use of criteria for the formulation of simulations of values in private retirement saving schemes with survivor coverage.
Functional Commissions FenaPrevi relies on the contribution of eight Functional Commissions specialized in the following areas of interest: Actuarial; Accounting and Tax-related Matters; Legal Matters; Communications, Marketing, Events; Investments; Product for Survival; Risk Products; SIDE (Electronic Document Exchange System) Management.
Brazilian Insurance Market | Results and Prospects
FenaPrevi
101 Summary
FenaPrevi Board | 2013 - 2016 President Osvaldo do Nascimento
Itaú Vida e Previdência S.A.
First Vice-president Pedro Cláudio de Medeiros B. Bulcão
Sinaf Previdencial Cia. de Seguros
Vice-presidents Francisco Alves de Souza
Comprev Previdência S.A.
Luciano Snel Correa
Icatu Seguros S.A.
Lúcio Flávio Conduru de Oliveira
Bradesco Vida e Previdência S.A.
Miguel Cícero Terra Lima
Brasilprev Seguros e Previdência S.A.
Directors Alfredo Lalia Neto
HSBC Seguros (Brasil) S.A.
Fabiano Lima
Sul América Seguros de Pessoas e Previdência S.A.
Claudio César Sanches
Itaú Vida e Previdência S.A.
Edson Luís Franco
Zurich Vida e Previdência S.A.
Eduardo Soares de Freitas
Mapfre Previdência S.A.
Fabio Lins de Castro
Prudential do Brasil Seguros de Vida S.A.
João Batista Mendes Angelo
Zurich Santander Brasil Seguros e Previdência S.A.
Marcelo Barroso Picanço
Porto Seguro Cia. de Seguros Gerais
Milton Amengual Machado
Aspecir Previdência
Nilton Celente Bermudez
GBOEX Grêmio Beneficente
Oriovaldo Pereira Lima Filho
Previmil Previdência Complementar S.A.
Ricardo José Iglesias Teixeira
Centauro Vida e Previdência S.A.
Roberto Barroso
Companhia de Seguros Aliança do Brasil S.A.
Rosana Techima Salsano
Caixa Vida e Previdência S.A.
Stefano Convertino
Generali Brasil Seguros S.A.
Washington Luís B. da Silva
Metropolitan Life Seguros e Previdência Privada S.A.
Executive director Luiz Peregrino Fernandes Vieira da Cunha
Brazilian Insurance Market | Results and Prospects
FenaPrevi
102 Summary
FenaSaĂşde The National Federation of Supplementary Health is the institutional representative of the segment of companies that operate in the Supplementary Health sector, supporting specialized insurance companies as well as companies that work with other types of plans but are subject to ANS regulations.
Brazilian Insurance Market | Results and Prospects
Regarding the Federation
Member companies
FenaSaĂşde
103 Summary
A WORD FROM THE PRESIDENT/CEO
“A very complex year” The year of 2015 proved to be extremely complex for the economy, society, the country as a whole. Marcio Serôa de Araujo Coriolano
F
or the first time in many years, the sector of supplementary health saw a decrease in the number of beneficiaries due to the same factor that fueled our sector forward during the last decade: product, employment, income. Our projections indicate that, in 2016, the healthcare-related expenditure of the sector as a whole - which will reach BRL 137.7 billion, a 13.3% increase - will continue to grow faster than the revenue from consideration, which will increase 12.8% and reach BRL 167.3 billion. The estimated loss ratio will be of 82.3%. Nonetheless, we do have achievements to celebrate. The contribution of each representative of the affiliated companies, together with the technical body of the executive directors’ board, was paramount for the consolidation of the mission of this Federation.
Brazilian Insurance Market | Results and Prospects
We got the recognition of high-ranking people in the sector. The active presence of the Federation in all the forums of debates, the organization of events for the dissemination of knowledge on the most important matters and the intense exchange of experiences between affiliated companies made, once again, all the difference and put FenaSaúde in prominent position. FenaSaúde did not stay powerless before the 2015 challenges - it put forward proposals after having identified the various problems faced by the sector. One must forge ahead despite the even more complex scenario that is coming. I have no doubts that this will be the spirit that will lead the work of the Federation. I would like to extend my gratitude to my colleagues, my wishes for success to the new CEO and board of the 2016/2019 mandate.
FenaSaúde
104 Summary
Supplementary Health feels the consequences of the economic crisis In the macroeconomic field, Supplementary Health has benefited from economic development in the last decade and significantly expanded its basis of beneficiaries. Because it was perceived as a high priority consumption item by families and companies, Supplementary Health continued to grow at a fast pace until the downturn in economic activity increased the rate of formal unemployment and reduced the income of the population. For over 10 years, the rate of increase of the population benefiting from medical coverage was quite high, of the order of 3.4% in average per year. The average growth rate of dental plans is higher - 13.7%, while Brazilian demographics increase barely 1%. Recently, these rates have shrunk and, for the first time since the beginning of the historical series, we have seen a decrease in the number of beneficiaries of medical plans. From January to December of 2015 only, 953 thousand beneficiaries of health insurance plans left the market - a 1.7% decrease compared to December 2014. The slump was observed in personal as well corporate plans. There were, however, 846 thousand beneficiaries who bought exclusively dental insurance plans in 2015. Upon addition of the two segments, the sector showed a decrease of 107 thousand beneficiaries, totaling 71.4 million. This decrease was more pronounced among beneficiaries of corporate health insurance plans. This type of plan fell from a growth level of 7.2% between December 2012 and December 2011 to a negative rate of 1.7% in December 2015, compared with the same month in 2014.
Brazilian Insurance Market | Results and Prospects
In terms of economy and finances, the total expenditure of healthcare companies and exclusively dental insurance care companies amounted to BRL 147.5 billion in 2015, an increase of 12.6% compared to 2014. Revenue from consideration was BRL 148.3 billion and increased 13.7%, using the same comparison. During the same period, healthcare-related expenditure - including expenses with medical appointments, exams, hospital admissions, treatments and therapies among others – amounted to BRL 121.5 billion, an increase of 13.4%. The loss ratio remained at high levels in the Supplementary Health market, especially in the medical care modalities (Healthcare Cooperatives, Group Medical Care and Insurance Companies specializing in healthcare), in which the loss ratio was 82.1% and, in the exclusively dental care ones, 45%. Companies affiliated with FenaSaúde have been responsible for covering of 28.8 million beneficiaries of healthcare and exclusively dental care plans, a number that corresponds to 40.4% of contractual bonds in the Supplementary Health market. During this period, although most of the beneficiaries were tied to medical care plans (15.4 million), the exclusively dental care plans (13.4 million) presented a higher rate of increase, 2.1%, compared to the same period the previous year. In 2015, the companies affiliated with the Federation paid BRL 49.4 billion in medical and dental care to their beneficiaries, an increase of 13.4% in comparison with 2014. During the same period, the revenue from consideration amounted to BRL 60.0 billion and increased 15%, with the same years being used for comparison.
FenaSaĂşde
105 Summary
Once again, the sector´s costs speedily grew with the enactment of the List of Covered Procedures, whose update added 21 new procedures, including laboratory tests and one more oral drug for the treatment of cancer at home, in addition to broadening of the number of consultations with speech therapists, dieticians, physical therapists and psychotherapists. The year of 2015 was productive in bringing frauds in the use of Medical Implants, Prosthetic Devices and Special Materials - OPME to the attention of society and the government. Two Parliamentary Inquiry Commissions were created in Congress to investigate the matter due to the repercussions of a story aired on TV. Additionally, an Inter-ministerial Work Group was created that produced diagnosis and proposals that were essentially aligned with the requests long made by the sector in its search for more discipline and transparency in the market of medical supplies.
In order to invest and give continuity to its primary mission of protecting the population, carrying out more than 1 billion annual medical procedures - among medical visits, tests and exams and other diagnostic services, treatments, therapies and admissions - the Supplementary Health sector needs to innovate, have legal security and regulatory stability. The Federation launched the basis for a new perspective on Supplementary Health with concrete proposals discussed with all the other relevant players during the First Supplementary Health Forum to be more upfront and transparent with society about costs, empower consumers, rethink the current model of compensation, which encourages wastefulness and misuse, give a broader choice of product options and put greater responsibility on all agents.
Matters which were given special attention by FenaSaĂşde List of Covered Procedures and Events in Health: in this update of
Quality Factor: ANS created a work group to develop the Quality Factor,
the List the innovation resided in the adoption of the FormSUS tool - a service made available by the Department of Computer sciences of the Unified Health System - DATASUS, for use in the Brazilian Unified Public Health System SUS and other government agencies. The tool contributed significantly to the improvement of the process, ensuring the systematization, unification and greater quality of entrance for inputting requests for inclusion/change/ exclusion of procedures and Guidelines for Use.
which is one of the elements that make up the escalation index set forth in Act 13.003/14. This indicator, however, will only be used in cases where the contracts are of the free negotiation type and there is no agreement in the 90 calendar days following January 1st. Initially, the workgroup dealt with the application of this in contracts made between hospitals and insurance companies. For other healthcare institutions the debates were postponed until 2016, and for healthcare until 2017.
Brazilian Insurance Market | Results and Prospects
FenaSaĂşde
106 Summary
Transparency of Information in Supplementary Health:
Reformulation of the ANS Index of Complaints: results were
NR 389, called the Transparency Normative Resolution made it mandatory to make available the minimum required content for information pertaining to health plans. Among the rules that were established, the norm made it mandatory for insurance companies to make available to their beneficiaries the Beneficiary Information Portal for Supplementary Health (PIN-SS), containing register data and healthcare data, through the demonstration of the use of services; it will come into effect in January 2016.
disclosed on the ANS page on the Internet, including graphs and ranking with a list of the ten insurance companies with the highest rate of complaints in the general index of complaints per size and line. Another innovation was to allow consumers to have access to the complaints per ranking type (care and non-care) and subtheme (service network, maximum deadlines for services, list of procedures, reimbursement, among other things), in addition to data on the complaints per company, allowing them to calculate the indicators of each one.
Key Institutional Actions Projections: the projection models for the Supplementary Health
Compliance Cost Project: FenaSaúde helped identify the regulations
market were improved, inputting new variables. The prospective analysis, made quarterly, brought more assertiveness to the results disclosed by CNseg. The results are submitted to the Federation Board and, including new parameters, can then be adjusted according to the expectations of each insurance company for the sector.
that are costlier to insurance companies when complying with ANS requirements, and helped identify accounts linked to regulatory costs and validate the result. A report was submitted in which were stated the estimated results of compliance-related costs in relation to operating costs as well an analysis of the nature of costs for the periods.
Analysis of the current scenario: FenaSaúde worked with CNseg´s
Exposure to the media: high exposure was achieved in the media
Market Surveys Committee - CEM, to write three new editions of the Analysis Report on the Current Situation of the Market of Insurance, Private Open Complementary Pension, Supplementary Health and Premium Bonds. The document summarized the main macroeconomic indicators, assessed various aspects pertaining to the insurance sector and short-term expectations. In the Supplementary Health Market, among other aspects, the document stressed the annual evolution of expenditure with per capita health care during the year above the inflation that affects the other prices in the economy.
with 208 positions taken in writing, two articles published in 23 media vehicles and 42 interviews. Additionally, over 37 posts were published in the hotsite “Plano de Saúde – O que saber” (Health care Plan—What you should know) and more than 151 posts on Facebook. As a result, 1,183 mentions were made to the Federation, which came through positions, suggestions of topics and mediation of interviews requested. The 1st Forum of Supplementary Health itself generated 114 articles e 25 posts in the social media, reaching 156 thousand people. The articles were
Brazilian Insurance Market | Results and Prospects
FenaSaúde
107 Summary
mainly positive: 756 positive insertions were made, 341 neutral ones and 86 negative reports.
Escalation Guide for Plans e Private Health Insurance: a Guide was launched – during the 7th Brazilian Conference on Insurance, Reinsurance and Private Pension – to explain in depth the adjustment rules published by ANS, showing how these adjustments are made and why they are needed to offset financial losses and ensure economic and financial balance in the system. All in all, 65 articles were published about the Guide.
Permanent Mobilization: 486 meetings were held, an average of 40 per month. There were 13 board meetings, 90 Functional Commissions and Workgroup meetings, 134 meetings at ANS, 121 technical meetings and audio conferences, 78 institutional meetings with several entities and companies, and 28 in-house meeting with the Communications Consultancy team.
Consumers’ Guide and Pregnancy Guide: FenaSaúde continued to distribute the Guide at events. All three FenaSaúde guides are part of the communication platform “Plano de Saúde - O Que Saber” (Healthcare Plan—What you should know), developed by FenaSaúde, with the support of the hotsite www.planodesaudeoquesaber.com.br the Facebook page.
Functional Commissions FenaSaúde has eight Commissions, as follows: Accounting; Healthcare matters; Legal matters ; Communications; Ethics; Dental care; Relationship with Suppliers; and Health.
Brazilian Insurance Market | Results and Prospects
FenaSaúde
108 Summary
FenaSaude Board | 2013 - 2016 President/CEO Marcio Serôa de Araujo Coriolano
Grupo Bradesco Saúde
Vice-Presidents Edson de Godoy Bueno
Amil Assistência Médica Internacional S.A
Gabriel Portella Fagundes Filho (up to 5/2/15)
Comprev Previdência S.A.
Maurício Lopes (as of 6/2/15)
Grupo SulAmérica Saúde
Paulo Sérgio Barros Barbanti (up to 19/8/14)
Bradesco Vida e Previdência S.A.
Irlau Machado Filho (as of 20/9/14)
Grupo NotreDame Intermédica
João Carlos Gonçalves Regado
Golden Cross Assistência Internacional de Saúde Ltda
Board André do Amaral Coutinho
Omint Serviços de Saúde Ltda.
Francisco Caiuby Vidigal Filho
Yasuda Marítima Saúde Seguros S.A
Marcos Aurélio Couto (up to 26/3/14)
Itaú Vida e Previdência S.A.
José Augusto de Paula (up to 31/3/15)
Zurich Vida e Previdência S.A.
Sérgio Ferreira dos Santos (as of 1/4/15)
Gama Saúde Ltda.
Max Joaquim Ernesto Thiermann Waller (up to 17/4/15)
Prudential do Brasil Seguros de Vida S.A.
Miguel Pérez Jaime (as of 18/4/15)
Allianz Saúde S.A
Newton José Eugênio Pizzotti (up to 3/9/15)
Porto Seguro Cia. de Seguros Gerais
Fabio Luchetti (as of 4/9/15)
Porto Seguro – Seguro Saúde S.A
Rafael Moliterno Neto (up to 3/9/15)
GBOEX Grêmio Beneficente
Helton Freitas (as of 4/9/15)
Unimed Seguros Saúde S.A
Randal Luiz Zanetti (up to 26/3/14)
Centauro Vida e Previdência S.A.
Mauro Silvério Figueiredo (as of 27/3/14)
Odontoprev S.A
Roberto Laganá Pinto
Care Plus Medicina Assistencial Ltda.
Washington Luiz Bezerra da Silva
Metlife Planos Odontológicos Ltda.
Executive Director José Cechin
Brazilian Insurance Market | Results and Prospects
FenaSaúde
109 Summary
FenaCap The National Bond Insurance Association is a non-profit organization in Brazil that comprises bond insurers all over the country.
Brazilian Insurance Market | Results and Prospects
Regarding the Federation
Member Companies
FenaCap
110 Summary
A WORD FROM THE PRESIDENT/CEO
A challenging year The 2015 economic downturn and uncertain scenario affected premium savings bonds – a market traditionally subject to variables such as revenues, interest and inflation rates.
H
owever, as this is a very peculiar market, technical reserves increased by 3.7% that year, since they encompassed resources owned by bond holders and were later redeemed when they came to term. This amount totaled BRL31.058 billion, thus hinting at a large number of individuals saving, as shown by a joint survey conducted by the Federation/Association and the Overview Institute about consumers’ perception of bond savings. Premium bond revenues reached BRL21.510 billion, a slight 1.6% decline against revenues in 2014. Although the scenario was not particularly favorable, it was a productive year. FenaCap conducted an in-depth study about the role of premium savings bond in the Brazilian social and economic agenda which evidenced an increasing importance of this industry in people’s lives. The findings of this study led FenaCap to launch an institutional campaign on digital media aiming to strengthen consumers’ perception of the positive attributes of this industry and to allow more visibility to the benefits granted by the various business solutions which made prize drawings available. Additionally, all through 2015 FenaCap promoted internal discussions oriented at forwarding suggestions to the regulatory agency as our
Brazilian Insurance Market | Results and Prospects
Marco Antônio da Silva Barros contribution to more market-sensitive rules that were under construction within the new regulatory framework. Within this perspective, the Association supports the sustainable growth of an industry that generates over 72 thousand direct and indirect jobs, assists security financial education and internal saving and collects more than BRL1.2 billion in taxes/year. A critical step in this process was precisely taking a new stance towards bond savings. The market evolved to a point in which premium bonds were solely oriented towards accrual and prize drawings. However, a new dimension has been added by the availability of an array of business solutions encompassing prize drawings as a response to consumers’ – both individuals and corporations - demands. Another key step was the design of a new governance model which, in practice, stands as the first move towards self-regulation. FenaCap started a series of studies about the feasibility of moves into the property market that will be carried on through 2016. That explains why it was a very challenging year, which, nonetheless, brought about significant institutional advances that strengthened the industry and helped to pave the road towards a new growth cycle.
FenaCap
111 Summary
Bond modalities There are currently four premium bond modalities that may be traded individually or associated with other products, services or deals. Products are formally framed for trading purposes. Check them out.
FenaCap Modalities
Major institutional initiatives The Role of Premium Savings Bonds in the Brazilian Economic and Social Agenda: This white paper adds support to this role as it lies upon an in-depth study about the impact of premium bonds trading in the everyday life of Brazilian families and of the business sector as a whole. The findings portray the importance of this industry as a tool for financial education as well as a solution to leverage new business and social development, and to increase philanthropy.
Brazilian Insurance Market | Results and Prospects
Survey: Consumers’ Perception of Bonds: Together with the Carioca Overview Institute, the Association conducted a qualitative investigation that unveiled consumers’ – whether they are regular customers or not – views about the bond solutions that are available to individuals. The survey was conducted in seven capital cities and its findings have guided FenaCap’s institutional communication in its efforts to reinforce a positive view of premium bonds and to fill identified gaps of knowledge about prize drawings.
Institutional Campaign: The new stance towards governance led the Association to launch an institutional campaign to spread information about the socioeconomic benefits of premium bonds. Entitled Realizando Sonhos, Movimentando a Economia [‘Making Dreams Come True, Moving the Economy Forward’], the campaign was released through social media
FenaCap
112 Summary
and placed banners on economy and finance-oriented websites, blogs owned by journalists with large-circulation press and dozens of other types of editorial channels.
4th Premium Bonds Workshop: This event gathered journalists and aimed to release the findings of the survey, increase society’s awareness of business solutions that use drawings and narrow the relationship with think-tanks.
The ANADEC Affair: The Association followed closely the suits placed by ANADEC (National Association for Citizenship and Consumer Protection) as a response to the lawsuits it had been the target of under the argument that the qualifying period mechanism carried by the majority of bond modalities was as an abusive and detrimental practice for consumers. ANADEC won the suit as the Supreme Court of Justice (STF) ruled in favor of the lawfulness of the qualifying period and its applicability.
Congress: The Association followed the procedures of PLS 186/14 in Congress, which provides for the operation of hazard games across the
country. It has also followed the procedures of PL 315/15 at Pernambuco State Assembly, which provides for the compulsory nature of the redemption, donation or benefits of whatsoever nature that derive from drawings, marketing campaigns, premium saving bonds and alike promoted by corporations based in the state to be complied with by organizations based in that state.
Financial Education: The Association, together with financial consultant Ă lvaro Modernell, released several articles about financial education in its website aiming to support consumers to plan their personal finance and to better understand how the financial market works and the role of Premium Bonds in this market.
Governance Model and Internal Regulation: The Board passed the Declaration of Best Practices Directives for Premium Bonds, a document to be eventually signed by affiliated companies to ratify the commitments therein undertaken. The theme developed through the design of our Governance Model and Internal Regulation that set the rules which will formally guide all the issues involved in the industry’s best practices.
Functional Commissions The seven functional commissions within FenaCap lend relevant support to the Board as they assess commission-specific areas of action such as Products and Coordination, Management and Finance, Actuary, Internal Controls, Legal Issues, Information Technology and Communications.
Brazilian Insurance Market | Results and Prospects
FenaCap
113 Summary
FenaCap Board | 2013 - 2016 President/CEO Marco Antonio da Silva Barros
Brasilcap Capitalização S.A.
Vice-Presidents André Luiz Lauzana dos Santos (as of maio de 2015)
Sul América Capitalização S.A. – Sulacap
Gabriel Portella Fagundes Filho (up to abril 2015)
Sul América Capitalização S.A. – Sulacap
Carlos Infante Santos de Castro (up to março de 2015)
Sul América Capitalização S.A. – Sulacap
Ricardo Alahmar (as of março 2015)
Bradesco Capitalização S.A.
José Sérgio Bordin (up to fevereiro de 2015)
Bradesco Capitalização S.A.
Marcos Renato Coltri
Brasilcap Capitalização S.A.
Ryvo Matias Pires dos Santos
Caixa Capitalização S.A.
Managing Directors Leon Gottlieb (as of março 2015)
Cia. Itaú de Capitalização
Fernando José Costa Teles (up to fevereiro de 2015)
Cia. Itaú de Capitalização
Luciano Snel Correa
Icatu Capitalização S.A.
Patricia Martins de Freitas de Oliveira
Santander Capitalização S.A.
Renato Fernandes
Mapfre Capitalização S.A.
Ricardo Athanásio Felinto de Oliveira
Aplub Capitalização S.A.
Ronaldo Cosme Gonçalves Ferreira
Liderança Capitalização S.A.
Rosangela Rodrigues da Silva
HSBC Empresa de Capitalização (Brasil) S.A.
Executive Director José Ismar Alves Torres
Brazilian Insurance Market | Results and Prospects
FenaCap
114 Summary
Access other CNseg’s publications on the link below
Manual de Boas Práticas em Seguros – Orientações Gerais para Varejistas Revista de Seguros • Edição nº 896 Jan / Fev / Mar de 2016
Guia de Acesso do Consumidor às Empresas do Setor de Seguros