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Key Players in the Insurance Industry in Brazil.

Key Players Table

Detailed profile Relevant context information Estimates of volumes Estimates of revenue
Bradesco Seguros
Part of the larger Bradesco financial group, Bradesco Seguros is a major player in the Brazilian insurance market. It operates across various segments, including health, life, and property and casualty.		 Positioned as a leader in Latin America, with a focus on protecting society. The group is emphasizing efficiency, innovation, sustainability, and people. They are looking to expand strategic partnerships beyond health and are prepared to invest in all areas, including potentially new acquisitions. Key brands include Bradesco Saúde, Bradesco Vida e Previdência. They are increasing the activation of market brokers for life insurance, travel insurance, and private pension products. They also launched Croma Oncologia, a joint venture for integrated cancer care. Has over 8 thousand employees. Holds more than 20% of the market share. Had nearly six thousand market brokers working with life insurance, travel insurance, and private pension in the 12 months leading up to Q1 2024. R$ 121.1 billion in faturamento in 2024, a 13.6% increase compared to 2023. R$ 90 billion in faturamento up to September 2024. R$ 28 billion in faturamento in Q1 2024. Net income of R$ 9.1 billion in 2024. Net income of R$ 6.5 billion up to September 2024.
Porto Seguro
A prominent Brazilian insurance company with a diversified business model, including insurance, health, banking, and services.		 Known for its ecosystem of services. The company emphasizes diversification and strengthening its four business units: Porto Seguro, Porto Saúde, Porto Bank, and Porto Serviço. Strong digital presence with millions of digital interactions and active app users. Significant focus on customer experience and operational efficiency. Reached 18 million clients. Had 3.8 million active users on their app in Q4 2024. Around 57% of car or home service calls in Q4 2024 were made through the app or WhatsApp. Insured fleet of automobiles grew by 1% in 2024. R$ 37 billion in revenues in 2024, a 13% increase compared to 2023. R$ 27.1 billion in revenues in the first nine months of 2024. R$ 9.5 billion in quarterly revenue in Q3 2024. Net income of R$ 2.7 billion in 2024, an 18% increase. Net income of R$ 2.0 billion in the first nine months of 2024.
MAPFRE
A global insurance and financial services company with a significant presence in Brazil. Operates in life, non-life, and other segments.		 The Brazilian operation is a key growth driver for the global group. Has a strong partnership with Banco do Brasil, which helps reach more clients. Emphasizes a multi-product offering and continuous investment in distribution channels. Focused on consistent growth and consolidating its leadership position. €4.8 billion in premiums issued in Brazil in 2024, a 6.5% decrease compared to 2023 in euros, but a 1.7% growth in local currency. Net income of 255 million euros in Brazil in 2024, a 9.5% increase.
Tokio Marine Seguradora
Brazilian subsidiary of the global Tokio Marine Group, offering a wide range of insurance products.		 Has a strategy of organic growth based on expanding insurance culture, valuing human capital, and offering products and services to meet the demands of brokers, advisors, clients, and the community. Is a multi-product insurer, which helps balance results. Plans for 2025 include strengthening insurance culture, especially concerning climate change, and focusing on service excellence, sustainable growth, productivity, efficiency, innovation, technology, teamwork, and ESG. Ended 2024 with 3 million insured vehicles, consolidating its position as the third largest insurer in the automotive segment in Brazil with about 14% market share. Reached over R$ 800 million in faturamento in the Centro-Oeste region in 2024. Has around 43 thousand brokers and advisors and over 2.4 thousand employees. R$ 13.4 billion in faturamento in 2024, a 10.6% increase compared to 2023. Lucro líquido of R$ 1.4 billion in 2024. R$ 6.4 billion in faturamento in H1 2024.
CAIXA Seguridade
The insurance arm of Caixa Econômica Federal, focusing on insurance, capitalization, private pension, and consortia. Operates heavily through the bank's network.		 Consolidated all Caixa's activities in insurance, capitalization, open supplementary pension, consortia, brokerage, and related activities under one company. Relies significantly on the bancassurance channel through Caixa Econômica Federal's extensive network and client base. Has simplified its corporate structure and reinforced its focus on bancassurance. Showed a significant reduction in complaints registered with BACEN in 2024. Has access to over 3.3 thousand Caixa agencies and 150 million clients (20 million active). R$ 9.8 billion in premiums issued in the insurance segment in 2024. R$ 2.5 billion in premiums issued in Q4 2024. R$ 4.8 billion in credit letters commercialized in consortia in Q3 2024. Lucro Líquido Gerencial of R$ 3.76 billion in 2024, a 7.9% increase. Lucro líquido (contábil) of R$ 3.765 billion in 2024, a 5.1% increase. Lucro Líquido Gerencial of R$ 1.06 billion in Q4 2024, a 14.6% increase. Operating revenues of R$ 2.3 billion in H1 2024.
Itaú Seguros
Part of Itaú Unibanco, one of the largest financial conglomerates in Brazil. Offers insurance, pension, and capitalization products.		 Leverages the extensive network and client base of Itaú Unibanco. Focuses on growth in various insurance lines, including life, personal accidents, credit life, and protected card. Also sees growth in capitalization and service revenue from commissions on third-party insurance sales. Acknowledged the impact of climate events and took actions to support affected clients. R$ 9.75 billion in results from insurance, pension, and capitalization in 2024, a 13.8% increase compared to 2023. R$ 2.23 billion in results from insurance, pension, and capitalization in Q1 2024, a 10.3% increase. R$ 2.6 billion in revenues in Q1 2024. Expects growth between 4% and 7% in services and insurance results in 2025.
Allianz Seguros
Brazilian operation of the global Allianz Group, providing various insurance solutions.		 Aims for sustained growth through margin expansion, capital efficiency, and organic growth. Diversification of portfolio is a central strategy, with focus on residential, small and medium-sized enterprise (SME) business, condominium, transport, and rural segments. Investing in diversifying within the auto segment and monitoring the electric and hybrid car market. Prepared to meet demand generated by public investments in infrastructure. R$ 7.1 billion in faturamento in the first nine months of 2024, an almost 9% increase compared to 2023. Global operating profit of €16 billion and total business volume of €179.8 billion in 2024. Achieved 20.6% growth in Residential, 27.8% in Life, and 5% in Auto in the first nine months of 2024.
BB Seguridade
Holding of the Banco do Brasil group in the insurance, private pension, and capitalization segments. Includes companies like Brasilseg, Brasilprev, Brasildental, and Brasilcap.		 Benefits from the strong brand and distribution network of Banco do Brasil. Achieved a record-low loss ratio in 2024, reflecting good underwriting quality and risk mitigation mechanisms in rural insurance. Focused on customer experience, distribution diversification, and technological modernization. Top 5 group in risk products in Brazil, representing 50% to 55% of the market together with four other groups. Premiums issued expanded 2.2% in 2024. Brasilcap (capitalization arm) faturamento was R$ 3.1 billion in H1 2024. Lucro líquido of R$ 8.7 billion in 2024 (gerencial adjusted), a 9.5% increase. Lucro líquido ajustado of R$ 8.153 billion in 2024, a 5.7% increase. Operating result grew 11.9% in 2024. Lucro líquido ajustado of R$ 2.173 billion in Q4 2024. Lucro líquido ajustado of R$ 1.870 billion in Q2 2024.
SulAmérica
One of the largest independent insurance groups in Brazil, operating in health, dental, and other insurance lines.		 Recognized as a major player in the Brazilian insurance market, particularly strong in health and dental plans. Included in the top 5 groups for risk products in Brazil in 2024 by Sincor-SP. Top 5 group in risk products in Brazil, representing 50% to 55% of the market together with four other groups. Explicit full 2024 revenue figure not available in the provided snippets.
Zurich Santander Brasil Seguros e Previdência
A joint venture between Zurich Insurance Group and Santander, operating in the Brazilian insurance and private pension markets.		 Leverages the global expertise of Zurich and the strong banking network of Santander in Brazil. Included in the top 5 groups for risk products in Brazil in 2024 by Sincor-SP. Top 5 group in risk products in Brazil, representing 50% to 55% of the market together with four other groups. Explicit full 2024 revenue figure not available in the provided snippets.

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