IRB+Intelligence: insurance sector earned BRL 11.2 billion in May, increase of 26.4%

Published in: July 30, 2021

The ninth edition of IRB+Market Bulletin, a report in Portuguese from IRB+Intelligence platform, points to an increase in the revenue of insurers for the 12th consecutive month. In May, the sector accounted for BRL 11.2 billion, a number 26.4% higher than that registered in the same month of last year, with emphasis on the high rates of positive change in Personal Damage (48.7%) and Corporate Damage and Liability (40.7%) insurances. Credit and Guarantee was the only segment that retreated in the month, with a decrease of 17.1%, accumulating losses in the last three months.

According to the report, the increase in the Personal Damage segment, which totaled BRL 894 million, is justified by the advance of 150.1% of the Extended Warranty coverage, which had been impacted by the trade closure due to the pandemic in 2020. The growth in Corporate Damage and Liability, with BRL2 billion, was driven by the evolution of the transport line, which grew with the increase in cargo handling caused by online purchases.

The analysis of IRB+Market Bulletin, with a focus on damage, liability, and personal insurance, also indicates that, in the year to 2021, the turnover is BRL 54.2 billion, a growth of 15.9% or BRL 7.4 billion more compared to 2020. The Life segment, which reached an increase of 31% in May, leads the share in the sector's total revenue from January to May, with 37.1%. The ranking follows with Auto (26.3%), Corporate Damage and Liability (18.7%), Personal Damage (8.5%), Rural (6.1%) and Credit and Guarantee (3.2%).

In May, the report also highlights the growth of the Claims Index in relation to the revenue recorded in the month: an increase of 11.2 percentage points (p.p.) compared to the same period in 2020. In the year to May, the index also showed an increase: 6.1 p.p. more than the rate recorded in the same period in the last year.

The IRB+Market Bulletin summarizes insurance operations based on public data made available by SUSEP on July 12, considering damage, liability, and personal insurance. The edition also lists the five largest insurance groups by business line. The analysis, which is published monthly, is available in its entirety on the IRB Brasil RE's website (www.irbre.com). On the same website, IRB also offers the IRB+Insurance Market Dashboard, a free dynamic panel with information from the entire sector.