The Brazil general insurance market witnessed decline at a compound annual negative growth rate (CAGR) of 5% from $44.6bn in 2016 to $34.5bn in 2021.

As per the data, the leading companies occupied 35.5% of Brazil’s total general insurance market.

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1. Bradesco Saúde

Bradesco Saúde ranked number one in the country, reporting a decline of 18.5% compared with the previous year’s premium. Its position among the leading general insurance companies remained unchanged over its ranking in the previous year.

2. Amil Assistência Médica Internacional

Ranking number two in Brazil’s general insurance market was Amil Assistência Médica Internacional. The company registered a 25.1% decline compared with the premium in 2020. Among the leading general insurance companies, its position remained unchanged when compared with its previous years ranking.

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3. Sul america Companhia de Seguro Saude

Sul america Companhia de Seguro Saude ranked number three in Brazil’s general insurance market. Compared with previous year’s premium, the company registered a decline 21.7%. Its position among the leading general insurance companies remained unchanged over its ranking in the previous year.

4. Porto Seguro Companhia De Seguros Gerais

Porto Seguro Companhia De Seguros Gerais, which ranked number four in Brazil’s general insurance market, registered a 11.3% growth compared with last year’s premium. Its ranking among the leading general insurance companies in the previous year was five, which now improved to number four.

5. Mapfre Seguros Gerais

Mapfre Seguros Gerais ranked number five in Brazil’s general insurance market. The company registered a growth of 13.4% compared with last year’s premium. Its ranking among the leading general insurance companies in the previous year was six, which now improved to number five.

Methodology

This analysis is drawn from GlobalData’s Company LoB Breakdowns Database, which tracks key insurance metrics across segments, categories, and line of businesses for more than 150 markets, globally. The data is sourced from regulatory authority/industry association/company SFCR. This data is mapped to segments and categories as per our standard Industry Native Taxonomy Structure. The calculations are based on premiums standardised by the following order of preference Gross Written Premiums > Direct Written Premiums > Net Earned Premiums > Net Written Premiums. Verdict’s parent company GlobalData provides business information to 4,000 of the world’s largest companies.