The gross written premium for the Brazil general insurance industry was BRL184.5 billion ($34.4 billion) in 2021. The market is expected to grow at a CAGR of more than 7% during 2021-26. The Brazil general insurance market research report offers a detailed analysis of the key categories in the Brazilian insurance segment and market forecasts for 2026.
ESG
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some of the key trends driving the Brazil general insurance market.
The SUSEP issued a circular stipulating the sustainability (ESG) requirements for insurance and local reinsurance companies. The key aspects of the Circular included that the supervised body must have a sustainability policy which establishes principles and guidelines to ensure that the aspects of sustainability (including risks and opportunities) are considered in the conduct of its business and the supervised body also must implement sustainable policies in the development of offering products or services and in the performance of its activities and operations. Furthermore, the circular also stated that the supervised body must prepare and disclose the sustainability report by April 30 of every year.
Zappts, a technology company that develops digital solutions for major brands, announced the first open insurance solution in Brazil. The launch is seen as the first step for insurers to be able to adapt to the transition process required by the new regulations to better serve their customers within the established deadline.
