Insurance Brokers - The Brazilian

Transcription

“If it were possible, I would write the
word insurance on the lintel of every
door, and on the forehead of every
man, I am convinced that insurance
can, through a modest investment,
free families from irreparable
catastrophes.”
Winston Churchill
General Index
5 Boards of Representatives
6 Thinking about the future
11
17
21
23
24
30
31
33
36
38
41
44
The Brazilian Insurance Industry – 2005
Insurance
Returns
Classification of the Insurance Lines
Portfolio Mix 2000 - 2005
Motor Insurance
Health Insurance
Life and Personal Accident Insurances
Premium Income – By State of the Federation and Insurance Lines - 2005
Open Pension Funds
Capitalization
The Companies of the Insurance Industry - 2005
49 International Insurance Industry – 2005
50 World Industry
52 Latin America
55
57
58
59
60
61
62
63
Brazilian Insurance Industry – First half of 2006
General Insurances
Health Insurance
Life and Personal Accident Insurances, and Pension Funds
Capitalization
Technical Reserves
Policyholders’ Surplus
Open Pension Funds
65
67
67
67
68
68
69
71
72
National System of Private Insurance
National Council on Private Insurance (CNSP)
Appeals Council on the National System of Private Insurance, Open Pension Funds and Capitalization (CRSNSP)
Superintendency of Private Insurance (SUSEP)
IRB-Brasil Re
Insurance Companies, Open Pension Funds and Capitalization Companies
Supplementary Health
Reinsurance
Insurance Brokers
73
74
75
75
77
80
Fenaseg
Organization Chart
Basic Functions
Events
Events held with the Suppport of Fenaseg - 2005
Events held with the Suppport of Fenaseg - 2006
81
82
84
88
91
92
94
95
100
103
104
104
105
106
106
4
Fenaseg Activities
Technical Committees
Working Parties
Technical Studies and Researches
Technical Qualifying
International Relations and Negotiations
Integrated Plan for the Prevention and Reduction of Insurance Fraud
Projects and Services
Chambers and Committees
Legal Area
Governmental Relations
Social Communication
Library
DPVAT Convention
Activities of the State Trade Associations
Back
Board of Representatives
Fenaseg - Directorate
PRESIDENT
João Elisio Ferraz de Campos
Centauro Vida e Previdência S.A.
VICE-PRESIDENTS
Casimiro Blanco Gomez
Porto Seguro Cia. de Seguros Gerais
Luiz Tavares Pereira Filho
Bradesco Seguros e Previdência
Nilton Molina
Mongeral S.A. Seguros e Previdência
Olavo Egydio Setúbal Junior
Itaú Seguros S.A.
Oswaldo Mário Pêgo de Amorim Azevedo
Sul América Cia. Nacional de Seguros
Renato Campos Martins Filho
Seguradora Brasileira de Crédito à Exportação
DIRECTORS
Antonio Eduardo Marquez de Figueiredo Trindade
Unibanco AIG Vida e Previdência S.A.
Federico Baroglio
Generali do Brasil - Cia. Nacional de Seguros
José Ismar Alves Tôrres
Brasilcap Capitalização S.A.
José Luiz Valente da Motta
Tókio Marine Seguradora S.A.
Mauro César Batista
Mapfre Seguros Brasil
Sidney Gonçalves Munhoz
Chubb do Brasil Cia. de Seguros
Vilson Ribeiro de Andrade
Companhia Mutual Seguros
PERMANENT MEMBERS
(Presidents of the State Trade Associations)
Alberto Oswaldo Continentino de Araújo
Minas Gerais
Cia. de Seguros Minas Brasil
Antonio Tavares Câmara
Bahia
Cia. de Seguros Aliança da Bahia
João Gilberto Possiede
Paraná
J. Malucelli Seguradora S.A.
Rio de January
Miguel Junqueira Pereira
Rio Grande do Sul
Cia. de Seguros Previdência do Sul
Mucio Novaes de Albuquerque Cavalcanti
Pernambuco
Cia. Excelsior de Seguros
Paulo Miguel Marraccini
São Paulo
AGF Brasil Seguros S.A.
Paulo Lückmann
Santa Catarina
HDI Seguros S.A.
AUDIT COMMITTEE
Members
Jorge Carvalho
Lúcio Antônio Marques
Marivaldo Medeiros
Marítima Seguros S.A.
Deputy Members
José Maria Souza Teixeira Costa
Companhia de Seguros Aliança da Bahia
Luiz Pereira de Souza
Tokio Marine Brasil Seguradora S.A.
Fenaseg - Consultative Council
PRESIDENT
Centauro Vida e Previdência S.A.
MEMBERS
Acacio Rosa de Queiroz Filho
Antonio Cássio dos Santos
Mapfre Vera Cruz Seguradora S.A.
Carlos dos Santos
Alfa Seguradora S.A.
Federico Baroglio
Generali do Brasil - Cia. Nacional de Seguros
Francisco Caiuby Vidigal
Marítima Seguros S.A.
Jayme Brasil Garfinkel
Jorge Estácio da Silva
Prudential do Brasil Seguros de Vida S.A.
José Américo Peón de Sá
Áurea Seguros S.A.
José Castro Araújo Rudge
Unibanco AIG Seguros S.A.
José Roberto Marmo Loureiro
Metropolitan Life Seguros e Previdência Privada S.A.
Luis Emilio Maurette
Liberty Paulista S.A.
Luiz Carlos Trabuco Cappi
Mario José Gonzaga Petrelli
Icatu Hartford Seguros S.A.
Nilton Molina
Mongeral S.A. Seguros e Previdência
Osvaldo do Nascimento
Itaú Seguros S.A.
Patrick Antonio Claude de Larragoiti Lucas
Pedro Pereira de Freitas
American Life Cia. de Seguros
Pedro Purm Junior
Zurich Brasil Seguros S.A.
Ryoji Fuji
Tokio Marine Brasil Seguradora S.A.
PERMANENT MEMBERS
(Presidents of the State Trade Associations)
Alberto Oswaldo Continentino de Araújo
Minas Gerais
Cia. de Seguros Minas Brasil
Antonio Tavares Câmara
Bahia
Cia. de Seguros Aliança da Bahia
Paraná
Rio de January
Miguel Junqueira Pereira
Rio Grande do Sul
Mucio Novaes de Albuquerque Cavalcanti
Pernambuco
Cia. Excelsior de Seguros
São Paulo
Paulo Lückmann
Santa Catarina
HDI Seguros S.A.
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5
Thinking about
the future
Amongst Fenaseg’s action during 2005, the creation of
and negatively, have contributed for inhibiting a
the Code of Ethics for the insurance industry is highlighted.
development of the sector more compatible with the size
It deals with a group of norms and principles the
and the dynamism of the Brazilian economy. After it had
companies of the sector have decided to subject
been concluded and submitted for a discussion with the
themselves to, voluntarily, as a promotion way of the
sector’s representative leaderships, the Code of Ethics
institutional harmony among themselves, considering the
became in force at the second half of 2006.
preservation of the free competition and the contractual
good faith. First of all, the Code shall privilege the
Throughout 2005, the studies and definition of new model
substantial improvement of the business relations
proposal about institutional representation for the insurance
established with the millions of customers within the
industry have also deepened, considering the arising of a
insurance industry, through the attention to the constant
National Confederation for the Insurance Industry, to which
improvement of the production mechanisms and the
specialized federations would be associated, classified
commercialization and customer support channels.
by their actuation branches within the insurance areas,
capitalization and open pension funds.
The adoption of the Code of Ethics by the companies,
shall also represent an answer against the preconception
Amongst the most evident advantages of the proposed
generalization and the unknowing about the reality of the
model for the Confederation, the preservation of the
operation and commercialization of the products and
corporative voice unit of the institutions that operate in the
services available for the customer, factors that, directly
industry is highlighted. Such industry is diversified
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regarding to the nature of the companies that compose it
ombudsman’s services by the insurance industry, within
-, at the same time in which it deepens the specialization
an auto-regulation perspective and as a means of solving
of the different technical forum, where the particular interests
problems pertinent to the consume relation. During 2005,
of each of the four segments now represented by Fenaseg
Fenaseg
are discussed. Furthermore, the proposed model shall
Ombudsman’s Service, that began to act as a discussion
enable to clarify, before the Judiciary Branch, the arisen
and orientation forum regarding to the performance of the
doubts regarding to the insurance industry representation
ombudsman’s services within the companies of the mar-
by the Financial System Confederation – CONSIF.
ket and, in July, it has promoted the 1st Ombudsmen
has
also
created
the
Committee
on
Meeting, with the purpose of enabling the exchanging of
In addition, Fenaseg’s initiative, proposing the Confedera-
experiences among the members of the ombudsman’s
tion model, is in a convergent line with the question SUSEP
services, as well as to improve and straiten the customer-
has been expressed, when it manifests itself in favor of
company relationship much more.
the distinction between the ample concept about a financial institution and the insurance activity, that dons itself
In December, 2005, nothing less than 65 ombudsman’s
with a specific nature and integrates the National System
services were already working within the insurance
of Private Insurance. In this same sense, the Attorney
industry, in companies that represented 88% of the total
General Office, that in its AGU/MP 03/05 Opinion has con-
premium income in the sector. And after two years since
cluded that the insurance, reinsurance and capitalization
the appearing of the first ombudsman’s services, the
companies, and pension funds, do not integrate the Na-
balance of their performance and know-how presents
tional Financial System, but the National System of Pri-
extremely positive results: about 19 thousand attendances
vate Insurance.
rendered to customers have resulted in deference of more
than 12 thousand claims and requests deemed fair and
During the first half of 2005, Fenaseg has implanted the
attended by the ombudsmen within a 6 days average term.
Collective Ombudsman’s Service of DPVAT Convention,
And, in accordance with SUSEP’s own data, since the
reflecting the SUSEP’s initiative, that since 2003 had pre-
ombudsman’s services began to work, the number of
figured in its strategic planning the adoption of
claims addressed to the governmental body against the
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7
companies of the insurance industry fell from 72 thousand
confirms the historical trend of consistence in its production.
in 2004, to something more than 53 thousand in 2005.
The 3.39% of the Brazilian GDP percentage share, calculated
in R$ 1.937 trillion in 2005, had also been kept.
From December 8th to 10th, 2005, Fenaseg has promoted
in São Paulo, the Third Conseguro - Brazilian Conference
Within the insurance activity, the total premium income in
of Insurance, Reinsurance, Private Pension and
the period amounted to R$ 50.986 billion, against R$
Capitalization, where participated 800 companies’
45.101 billion in 2004, and an accumulated growth of
directors, experts and personalities of the Brazilian
151.33% from 1999 to 2005. During the year, the segment
insurance industry. Around the common theme “The
including the open pension funds and the life and personal
Brazilian insurance industry in a transformation process”,
accident insurances presented a total premium income
35 lectures were given, and subjects since the planetary
of R$ 27.711 billion, against the R$ 25.908 billion generated
scare before the climate changes until the consequences
in 2004, and an accumulated growth of 243.56% in
of the terrorist attempts, seen as a threat to the personal,
comparison with 1999. The capitalization kept itself in a
patrimonial and institutional safety were discussed. Other
growth level near to the previous calendar year: R$ 6.881
topics, such as fighting policies against the fraud and the
billion, against R$ 6.617 billion in 2005, and an
organized crime, the opening of reinsurance and the
accumulated growth of 68.25% in relation to 1999.
development of new technologies have also been
It is relevant to register that the global amount of technical
discussed.
reserves for the insurance industry also presented an
In 2005, the insurance industry registered an aggregate
expressive growth: R$ 107.877 billion in 2005, against
volume of the total premium income in its three segments
R$ 86.743 billion in 2004. It shall be highlighted that the
- insurance, capitalization and open pension funds - of R$
insurance segment accumulated reserves amounted to
65.575 billion, against R$ 59.955 billion in the previous
R$ 49.091 billion, against R$ 35.010 billion in 2004, and
calendar year. Such numbers represent an accumulated
an accumulated growth of 458.50% in relation to the
positive percentage variation of 131.92% in relation to the
amount registered in 1999. In the open pension funds
numbers registered in 1999, and once more, the market
segment, the reserves amounted to R$ 48.229 billion,
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against R$ 42.589 billion in 2004, and an accumulated
growth of 386.31% in relation to R$ 9.917 billion in 1999.
And in capitalization, the technical reserves reached the
R$ 10.557 billion, against R$ 9.143 billion in 2004, and an
accumulated growth of 130.56% in relation to R$ 4.579
billion of existing reserves in 1999.
It is also important to mention the amount of investments
made by the Brazilian insurance industry in 2005: R$
143.321 billion – a growth of 24.20% in relation to R$
115.396 billion invested during 2004 –, a volume that
represented 7.40% of the Brazilian GDP in the year. The
numbers herein presented show, above all, the strong
presence of the Brazilian insurance industry within the
growth global process of the Country.
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9
The Brazilian
Insurance
Industry
2005
The Brazilian Insurance Industry – 2005
The Brazilian insurance industry’s revenues registered a
growth of 131.92% from 1999 to 2005, being the larger
increase experimented by life and personal accident segment, with a growth of 243.56%, stimulated by VGBL
that, since its implantation in 2002 has already registered
a growth of 361.55%.
As a whole, in 2005, the total revenues of the Brazilian
insurance industry amounted to R$ 65.58 billion, a figure
that in relation to the total of 2004, R$ 59.96 billion, represented an increase of 9.37%.
In 2005, the total premium income increased 13.05% (from
R$ 45.10 billion in 2004 to R$ 50.99 billion in 2005), being
the general insurance that represented 34.39% of the
total revenues, amounting to R$ 22.55 billion, and the life
insurance (life + personal accident) that represented
30.51% of the total revenues, amounting to R$ 20.01 billion, were the segments that more contributed for such
increase. Considering the life and personal accident segment as including open pension funds, it would reach a
42.26% share in the industry, R$ 27.71 billion in revenues,
becoming the most expressive segment.
The general insurance increased 13.79%, going from
R$ 19.82 billion in 2004 to R$ 22.55 billion in 2005, boasted
by the 15.14% increase in premiums for motor insurances
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(from R$ 10.53 billion to R$ 12.13 billion) and by the 26.46%
increase in premiums for the property insurances (from
R$ 3.56 billion to R$ 4.51 billion). The health segment had a
good performance, an increase of 10.75% in revenues (from
R$ 7.61 billion to R$ 8.43 billion), originated principally because of the 14.53% growth in the group health insurance,
than to the 3.10% growth in the individual health insurance.
In 2005, the life and personal accident insurances, not
considering the influence of open pension funds, presented
a growth of 13.20%, being the most expressive segments,
the personal accident insurance, with 19.39%, and VGBL,
with 11.29%. Nevertheless, VGBL growth was significantly less than that registered in the previous year, a
50.40% increase.
The total contributions for open pension funds in 2005
amounted to R$ 7.71 billion. The equivalent to 58.09% of
such total amount, R$ 4.48 billion, is related to PGBL,
and the remaining 41.91%, R$ 3.23 billion, to the traditional funds. In comparison with the previous year, PGBL
increased 0.59% and traditional funds decreased 14.68%.
The revenue arising from capitalization securities amounted
to R$ 6.88 billion in 2005, against R$ 6.62 billion in the previous year; the growth was only 4.00%, signalizing a slowdown, since the growth from 2003 to 2004 was 9.87%.
Insurance, Open Pension Funds and
Capitalization Annual Revenues – 1999/2005
Arrecadação (*)
R$ thousand
Segments/Groups
1999
2000
2001
2002
2003
2004
%
2005/1999
2005
General Insurance 11,194,990 12,592,385 14,065,983 15,578,287 17,518,739 19,818,232 22,552,127
101.45%
Motor
6,296,512
7,293,101
7,945,472
8,202,439
8,940,534 10,530,878 12,124,970
92.57%
Property
1,530,938
1,712,137
2,105,571
2,776,033
3,456,819
3,562,969
4,505,843
194.32%
DPVAT
1,047,978
1,209,796
1,280,997
1,418,149
1,469,618
1,590,932
1,952,805
86.34%
Home/Housing
1,009,619
893,294
797,715
776,634
771,126
758,536
405,811
(59.81) %
Cargo
752,409
834,971
980,295
1,071,081
1,176,636
1,441,228
1,471,487
95.57%
Financial Risks
74,039
97,824
122,670
189,677
163,718
235,644
202,805
173.92%
Credit
98,716
129,968
155,036
191,218
251,901
387,459
481,177
387.44%
Liability
122,898
154,002
193,147
281,777
412,777
403,724
452,946
268.55%
Marine
168,484
157,291
274,887
440,684
543,231
465,535
474,317
181.52%
Rural
52,880
79,946
81,137
105,441
192,066
278,803
269,436
409.52%
Special Risks
38,061
28,457
128,700
123,445
139,536
161,541
210,518
453.10%
Others
2,455
1,598
355
1,710
777
982
13
(99.49) %
Health Insurance
4,923,668
5,694,418
6,063,217
6,326,594
6,617,610
7,611,541
8,430,067
71.22%
Individual & Group Life/PA
3,552,425
4,005,868
4,384,840
4,742,842
5,208,374
6,012,945
6,941,134
95.39%
Individual VGBL
-
-
-
2,547,698
7,041,239 10,207,147 11,256,673
-
Group VGBL
-
-
-
-
1,165
359,131
502,332
-
Personal Accident
615,873
700,261
827,298
953,840
940,325
1,092,624
1,304,491
111.81%
Life & Personal Accident
4,168,298
4,706,129
5,212,138
8,244,380 13,191,102 17,671,846 20,004,630
379.92%
Total All Insurances 20,286,956 22,992,932 25,341,338 30,149,261 37,327,451 45,101,620 50,986,823
151.33%
PGBL
-
-
2,747,556
2,963,786
4,238,743
4,450,597
4,476,975
-
Tradicional Plans
-
-
4,777,472
4,182,425
3,545,775
3,785,641
3,229,982
-
Insurance Companies
3,061,473
4,381,062
6,321,586
6,735,440
7,319,223
7,782,576
7,293,857
138.25%
Non-Profit Entities
332,314
356,511
383,218
410,772
465,295
453,662
413,100
24.31%
Profit Making Entities
503,810
640,756
820,223
-
-
-
-
-
Total Open Pension Funds
3,897,596
5,378,329
7,525,028
7,146,211
7,784,518
8,236,238
7,706,957
97.74%
8,065,894 10,084,459 12,737,166 15,390,591 20,975,620 25,908,084 27,711,587
243.56%
6,881,617
68.25%
Overall Totals 28,274,726 32,762,753 37,655,929 42,512,677 51,134,546 59,955,084 65,575,397
131.92%
Life & Personal Accident/Pension
Total Capitalization
4,090,174
4,391,491
* Insurance premiums, pension funds contributions, and capitalization revenues
4,789,563
5,217,204
6,022,577
6,617,227
Sources: SUSEP and ANS
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13
The total amount of technical reserves in 2005 increased
24 36%, going from R$ 86.74 billion in 2004 to R$ 107.88
billion in 2005. Such increase was significantly larger than
the revenues, 9.37%. Open pension fund was the most
expressive segment, since the technical reserves
amounted to R$48.23 billion in 2005, representing a
44.71% share of technical reserves amount.
obtained, out of question, the larger development, showing an increase of 943.56% until 2005. However, just from
2004 to 2005, the increase was 54.11%.
The second most expressive segment was VGBL that
accumulated mathematical reserves (funds) of R$ 28.74
billion, representing 26.65% of the total amount. Since
2002, when VGBL was implanted, its technical reserves
The cover concerning to technical reserves total amount
in the last three years was larger than 111.00% of
the applications total amount, as showed in the
table below:
The reserves in respect of capitalization contracts
amounted to R$ 10.56 billion, an increase of 15.46% in
relation to the previous year.
R$ thousand
2005
2004
2003
Total Investment
120,353,192
96,334,754
75,052,541
Technical Reserves
107,877,912
86,743,136
66,072,858
Total Investment
Technical Reserves
111.56%
In the period from 2001 to 2005, the policyholders’ surplus of the insurance industry increased 99.04%, jumping from R$ 17.81 billion in 2001 to R$ 35.44 billion in
2005. From 2004 to 2005, the increase was 23.70%, a
very significant increase in comparison with that registered from 2003 to 2004, of 8.68%.
In 2005, the policyholders’ surplus of the insurances’ activity amounted R$ 25.70 billion, an increase of 31.0% in
relation to R$ 19.61 billion in the previous year. Health
insurance segment presented an expressive performance,
duplicating its policyholders’ surplus in the same period
(a 102.55% growth); in absolute terms, it represented an
increase of R$ 2.28 billion from 2004 to 2005, increasing
the policyholders’ surplus to R$ 4.51 billion.
From 2004 to 2005, general insurances segment accelerated
the policyholders’ surplus growth rhythm, increasing from
R$ 16.22 billion to R$ 19.38 billion: a 19.49% growth, whereas
in the previous year it has been increased only 3.38%.
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111.06%
113.59%
The policyholders’ surplus of open pension funds,
from 2004 to 2005, increased 8.66%, going from
R$ 6.31 billion to R$ 6.85 billion, a growth expressively less than that achieved in the previous year,
an increase of 61.91%.
Capitalization segment, during 2005, presented a policyholders’ surplus of R$ 2.89 billion, a growth of 5.88% in
relation to the last year, R$ 2.73 billion.
The sum of technical reserves and policyholders’ surplus
investments of the insurance companies within of the
market during 2005 achieved the amount of R$ 143.32
billion, i.e., the equivalent to 7.40% of GDP.
In 2004, the sum of these same investments represented 6.53% of GDP, i.e., from 2004 to 2005 the
development was of 0.86 percentage points, whereas
from 2003 to 2004, the development was 0.59 percentage points.
Investments
Markets
Insurance
R$ thousand
1999
2000
2001
2002
2003
2004
%
2005/1999
2005
18,641,421
20,334,408
21,515,375
27,813,490
42,078,499
54,624,551
74,788,509
301.20%
7,950,694
9,048,071
9,474,558
10,206,087
11,798,582
11,877,422
13,452,055
69.19%
Open Pension Funds
11,287,345
15,693,067
24,109,307
30,663,358
38,559,637
48,894,466
55,080,484
387.98%
Overall Totals
37,879,460
45,075,546
55,099,240
68,682,935
92,436,718 115,396,439 143,321,049
278.36%
Capitalization
Technical Reserves
R$ thousand
1999
Insurance
8,789,891
10,569,238
10,194,149
14,443,496
23,184,359
35,010,359
49,091,416
458.50%
Capitalization
4,579,035
5,534,615
6,315,391
7,202,962
8,223,082
9,143,538
10,557,438
130.56%
Open Pension Funds
9,917,372
13,665,447
20,782,833
26,754,328
34,665,477
42,589,239
48,229,058
386.31%
23,286,297
29,769,300
37,292,372
48,400,786
66,072,918
86,743,136 107,877,912
363.27%
Overall Totals
2000
2001
2002
2003
2004
%
2005/1999
Markets
2005
Policyholders’ Surplus/Net Worth
2002
2003
2004
%
2005/1999
Markets
1999
2000
Insurance
9,851,530
9,765,170
11,321,226
13,369,994
18,894,140
19,614,192
25,697,093
160.84%
Capitalization
3,371,659
3,513,456
3,159,167
3,003,125
3,575,500
2,733,884
2,894,617
-14.15%
Open Pension Funds
1,369,973
2,027,620
3,326,474
3,909,030
3,894,160
6,305,227
6,851,426
400.11%
14,593,162
15,306,246
17,806,867
20,282,149
26,363,800
28,653,302
35,443,136
142.87%
Overall Totals
2001
R$ thousand
2005
Distribution of Technical Reserves Assets
As at December 31st, 2005
R$ thousand
Accept Type
Fixed Income
Variable Income
Amount
Capitalization
Companies
Pension Funs
Insurers
%
Amount
%
Amount
Totals
%
Amount
%
31,814,201
33.46
3,479,441
52.89
9,026,902
78.35
44,320,544
39.15
861,646
0.91
38,762
0.59
282,326
2.45
1,182,734
1.04
146,272
0.15
53,992
0.82
51,990
0.45
252,255
0.22
Government Bonds
12,137,964
12.76
3,004,495
45.67
2,160,245
18.75
17,302,703
15.29
PGBL Funds
21,388,173
22.49
1,618
0.02
-
-
21,389,791
18.90
VGBL Funds
28,744,575
30.23
-
-
-
-
28,744,575
25.39
Totals
95,092,831
100
6,578,308
100
11,521,463
100
113,192,602
100
Real Estate
Back
15
Total Income of Insurance Industry in Relation to GDP (%)
3.39%
3.39%
2004
2005
3.29%
3.14%
3.16%
2001
2002
2.98%
2.87%
2.86%
1997
1998
2.90%
1999
2000
2003
Sources: IBGE, SUSEP and ANS
Total Investments of the Insurance Industry in Relation to GDP (%)
7.40%
6.53%
5.94%
4.59%
3.89%
2.81%
1997
5.10%
4.09%
3.29%
1998
1999
2000
2001
2002
2003
2004
2005
Sources: IBGE, SUSEP and ANS
16
Back
Insurance
increase of 13.79% in relation to the premium income in
2004, that was R$ 19.82 billion. Such segment represented
44.23% of the total premium income of market.
During 2005, the insurance’s activity was exercised for
131 companies with an overall premium income amounted
to R$ 50.99 billion, with a 13.1% increase in relation to
R$ 45.10 billion of premium income in 2004.
Within this segment, motor insurance premium income
went up from R$ 10.53 billion in 2004 to R$ 12.12 billion
in 2005; such increase of 15.14% reflected the increase
in sales of new vehicles, a rise in the vehicles prices and
in the insurance amounts.
Life and personal accident insurances, including VGBL, registered in 2005 the best performance: an increase of 13.20% in
relation to 2004, going from R$ 17.67 billion to R$ 20.00 billion.
Such segment represented 39.2% of the total premium income
of the market. Premium income for VGBL amounted to R$ 11.76
billion, nearly 60% of the total insurance premium of the group.
Premium income for Health insurance, in despite of all
difficulties faced during 2005, amounted to R$ 8.43 billion. In comparison with the R$ 7.61 billion premium income of 2004, the increase was of 10.75%.
The segment of general insurance continued to be the larger
premium income during 2005, totalizing R$ 22.55 billion, an
Premium Income
R$ thousand
Segments/Groups
1999
2000
2001
2002
Motor
6,296,512
7,293,101
7,945,472
8,202,439
8,940,534 10,530,878 12,124,970
Property
1,530,938
1,712,137
2,105,571
2,776,033
3,456,819
3,562,969
DPVAT
1,047,978
1,209,796
1,280,997
1,418,149
1,469,618
1,590,932
Home/Housing
1,009,619
893,294
797,715
776,634
771,126
752,409
834,971
980,295
1,071,081
1,176,636
Financial Risk
74,039
97,824
122,670
189,677
163,718
Credit
98,716
129,968
155,036
191,218
251,901
Liability
122,898
154,002
193,147
281,777
Marine
168,484
157,291
274,887
440,684
Rural
52,880
79,946
81,137
Special Risks
38,061
28,457
2,455
1,598
Cargo
Others
General Insurances
2003
2004
2005
Var 05/99 Mix 2005
92.57%
23.78%
4,505,843
194.32%
8.84%
1,952,805
86.34%
3.83%
758,536
405,811
-59.81%
0.80%
1,441,228
1,471,487
95.57%
2.89%
235,644
202,805
173.92%
0.40%
387,459
481,177
387.44%
0.94%
412,777
403,724
452,946
268.55%
0.89%
543,231
465,535
474,317
181.52%
0.93%
105,441
192,066
278,803
269,436
409.52%
0.53%
128,700
123,445
139,536
161,541
210,518
453.10%
0.41%
355
1,710
777
982
13
-99.49%
0.00%
11,194,990 12,592,385 14,065,983 15,578,287 17,518,739 19,818,232 22,552,127
101.45%
44.23%
Health Insurance
4,923,668
5,694,418
6,063,217
6,326,594
8,430,067
71.22%
16.53%
Life
3,552,425
4,005,868
4,384,840
7,290,540 12,250,777 16,579,222 18,700,139
426.40%
36.68%
Personal accident
615,873
700,261
827,298
4,168,298
4,706,129
5,212,138
Overall Totals
953,840
6,617,610
940,325
7,611,541
1,304,491
111.81%
2.56%
8,244,380 13,191,102 17,671,846 20,004,630
1,092,624
379.92%
39.23%
20,286,956 22,992,932 25,341,338 30,149,261 37,327,451 45,101,620 50,986,823
151.33%
100%
Back
17
The 2005 loss ratio, 66.74%, decreased 0.24 percentage points in
relation to 2004 (66.98%). However, such decrease was not so
significant, but it shows the policy continuity of severe control about
the loss ratio, whose larger ratio was 69.00% in 1999. This control
has been principally exercised by the general insurance segment,
which since 2002, from a 67.02% loss ratio, were decreasing it
constantly, achieving the ratio of 62.56% in 2005. It denoted a
decrease of 4.46 percentage points in the period.
Life and personal accident insurances inverted this 2004
trend, and in 2005 increased the 2.83 percentage points
loss ratio, going from 48.89% to 51.73%.
Once more, the health insurance loss ratio registered in
2005 the larger ratio of the insurance industry: 89.98%.
A high level of loss ratio, that became worse by maintaining the increase trend.
Loss Ratios
Segments/Groups
1999
Motor
2000
76.11%
2001
72.67%
68.98%
2002
2003
71.01%
2004
72.44%
2005
72.68%
68.88%
Property
66.81%
64.76%
60.10%
54.62%
47.65%
43.16%
39.24%
DPVAT
72.90%
77.27%
78.77%
75.78%
76.66%
80.40%
72.47%
Home/Housing
43.94%
39.34%
29.10%
34.15%
37.60%
40.48%
38.80%
Cargo
67.22%
57.92%
54.97%
51.63%
50.58%
48.75%
52.23%
Financial Risks
75.47%
40.02%
88.66%
38.13%
53.77%
36.38%
11.55%
Credit
42.82%
33.27%
68.52%
85.18%
98.73%
49.49%
79.13%
Liability
73.65%
61.12%
85.28%
71.23%
56.37%
49.67%
37.32%
Marine
74.39%
101.08%
139.86%
90.93%
61.37%
47.79%
49.60%
Rural
37.95%
78.46%
50.46%
66.92%
30.91%
40.39%
53.55%
Special Risks
48.69%
64.96%
118.51%
92.32%
(8.58)%
16.16%
18.47%
120.79%
321.24%
(120.42)%
68.90%
42.76%
255.69%
16.715.74%
General Insurance
72.95%
69.71%
66.91%
67.02%
66.43%
64.88%
62.56%
Health Insurance
79.02%
80.30%
83.19%
82.08%
86.21%
87.23%
89.98%
Life
51.77%
49.87%
49.19%
53.44%
59.51%
52.82%
56.43%
Personal Accident
24.10%
23.76%
25.29%
28.73%
27.66%
28.09%
27.95%
47.71%
45.81%
45.35%
49.41%
55.23%
48.89%
51.73%
Overall Totals
69.00%
67.29%
66.48%
66.93%
68.49%
66.98%
66.74%
Others
Accumulated Insurance Data
R$ thousand
Accounts
1999
2000
2001
2002
2003
2004
2005
%
05/04
%
05/99
Written Premium
20,286,956 22,992,932 25,341,338 30,149,261 37,327,451 45,101,620 50,986,823
13.05%
151.33%
Earned Premium
17,918,810 19,764,212 22,071,267 23,388,388 26,508,760 28,942,611 32,433,059
12.06%
81.00%
Retained Losses
12,363,413 13,300,082 14,672,972 15,653,821 18,154,733 19,387,104 21,646,484
11.65%
75.09%
Acquisition
Expenses
3,157,512
3,268,601
3,508,348
3,668,421
3,984,260
4,518,433
5,358,911
18.60%
69.72%
3,485,228
3,892,340
4,616,088
4,725,625
5,336,279
6,014,494
6,068,416
0.90%
74.12%
Management
Expenses*
Written Premium = total written premium – ceded reinsurance premium
Earned Premium = net written premium – variation of the unearned premium reserve
Retained Losses = Incurred losses – reinsured losses
* Management expenses include Taxes
18
Back
The management cost ratio during 2005 was 18.71%, the
lowest ratio registered in the last years, presenting a decrease of 2.07 percentage points in comparison with the
previous year, of 20.78%. Management expenses
(R$ 6.07 billion) remained almost unchanged in relation to
2004 (R$ 6.02 billion), increasing only 0.90%, whereas
earned premiums increased 12.06%, going from R$28.94
billion in 2004 to R$ 32.43 billion in 2005.
The acquisition cost increased near 1 percentage point,
going from 15.61% in 2004 to 16.52% in 2005. Such increase was caused by the 18.60% growth of the acquisition expenses, that went up from R$ 4.52 billion in 2004
to R$ 5.36 billion in 2005.
In the same period, earned premiums increased 12.06%,
less, thus, than the increase of acquisition expenses, of
18.60%. Nevertheless, the efficiences remain next to the
acquisition expenses that registered from 1999 to 2005,
increases of 69.72% related directly to the increase of
earned premiums in the same period, of 81.00%.
In 2005, the combined ratio of 101.98% decreased 1.4
percentage points in relation to 2004, of 103.38%. Such
decrease was due the management cost, which could
have been larger if the acquisition cost has not been increased near 1 percentage point, whereas the loss ratio,
with no changes from 2004 to 2005, did not exercise a
larger influence in the ratio improvement.
The 2005 amplified combined ratio, of 91.99%, presented
a 2 percentage points improvement in relation to 2004 ratio, of 94.01%. Such improvement was originated by the
largest financial result caused by the interest rate increase,
that went up from 16.00% in 2004 to 19.04% in 2005, as
well as to the largest volume of the financial investments
that went from R$ 19.68 billion in 2004 to R$25.86 billion in
2005, registering an growth of 31.41% in the period.
Acquisition Expenses – Amounts and Ratios
Period: 1999 – 2005
6,000,000
40.00%
5,358,911
4,518,433
5,000,000
35.00%
3,984,260
3,668,421
4,000,000
3,000,000
3,157,512
2,000,000
1,000,000
3,268,601
30.00%
3,508,348
25.00%
20.00%
16.54%
17.62%
15.61%
15.90%
15.68%
15.03%
2001
2002
2003
16.52%
15.00%
0
10.00%
1999
2000
2004
2005
Management Expenses – Amounts and Ratios
Period: 1999 – 2005
7,000,000
40.00%
6,014,494
6,000,000
6,068,416
5,336,279
4,616,088
5,000,000
35.00%
4,725,625
30.00%
3,892,340
4,000,000
3,000,000
3,485,228
2,000,000
19.45%
25.00%
19.69%
20.91%
20.78%
20.21%
18.71%
20.13%
20.00%
15.00%
1,000,000
0
10.00%
1999
2000
2001
2002
2003
2004
2005
Back
19
Insurance Costs
% over Earned Premium
1999
2000
2001
2002
2003
2004
2005
Loss Ratio
69.00%
67.29%
66.48%
66.93%
68.49%
66.98%
66.74%
Management Expenses Ratio
19.45%
19.69%
20.91%
20.21%
20.13%
20.78%
18.71%
Acquisition Expenses Ratio
17.62%
16.54%
15.90%
15.68%
15.03%
15.61%
16.52%
43.94%
39.34%
29.10%
34.15%
37.60%
40.48%
38.80%
Emover
% - Sobre
Prêmios
Ganhos
%
Earned
Premium
1999
57.92%
2000
54.97%
2001
51.63%
2002
50.58%
2003
48.75%
2004
52.23%
2005
Combined Ratio
106.07%
103.53%
103.29%
102.82%
103.65%
103.38%
101.98%
93.11%
94.01%
94.79%
93.23%
92.70%
94.01%
91.99%
Amplified Combined Ratio
In 2005, returns on net worth reached 22.91%, above the interest rate of 19.04%, related to investments in subsidiaries
and affiliated companies, mainly in life and open pension funds
insurers, the principal responsible for the reached performance.
Gross working capital increased 16.36% in 2005 (from
R$ 14.12 billion to R$ 16.43 billion), less than the increase
registered in 2004, 20.75%.
This smaller expansion of 2005 reflected the period activity level, which increased 13.05% before an increase of
20.83% in 2004.
Solvency margin of the industry increased 9.69% (from
R$ 7.63 billion to R$ 8.36 billion) during 2005, following
the insurance activity development, including VGBL, which,
however, presented a moderate performance because of
the uncertainties generated by Law no. 11.103.
Even so, the technical reserves severe development and
the amplitude of the policyholders’ surplus, due to the capital
20
Back
increases and favorable economic returns, amplifyied the
structural surplus of solvency, making of it the largest one
in the last years, in the amount of R$ 4.91 billion.
In comparison with the 2004 superavit of R$ 2.31 billion,
the increase from 2004 to 2005 was 111.53%.
Solvency became still more consistent, amplifying in
an essential way the capacity of the market to oppose each and every unexpected development, without risking any of its own liabilities. Also, without
risking the capacity to invest, mainly in synergetic
activities that reached the amount of R$ 12.44 billion
in 2005 before the amount of R$ 9.68 billion, with an
increase of 28.57%.
The guarantee represented by the structural surplus of
solvency of R$ 4.91 billion, plus the R$ 8.36 billion solvency margin, reached the amounted of R$ 13.26 billion,
sum equivalent to 51.59% of the policyholders’ surplus
and 26.00% of the activity.
Returns
In 2005, the net profit of the industry amounted to R$ 5.45
billion, against R$ 3.33 billion in 2004, representing an
increase of 63.66%.
The return on assets increased from R$ 1.78 billion in 2004 to
R$ 3.21 billion in 2005, an increase of 80.14%, showing a return
rate of 22.91%, larger than the average interest rate, of 19.04%.
Underwriting loss in 2005 presented a negative result of
R$ 640.33 million, a sum 1/3 less than the R$ 977.33 million loss in 2004. Such improvement resulted from the
difference between the increase of 12.06% in earned premiums and the increase of 11.65% in losses incurred.
The operational return in relation to net premiums increased
1.9 percentage point, going from 5.0% in 2004 to 6.91%
in 2005, as consequence of a smaller underwriting loss
and a larger financial return.
The 18.60% increase in acquisition costs contributed for
such underwriting loss, balanced, however, by contention of management expenses, increased by 0.90%.
The financial return in 2005 amounted to R$ 3.53 billion,
against R$ 2.88 billion in the previous year, showing an
increase of 22.37%.
The operational return in relation to the policyholders’ surplus also improved, going from 9.72% to 11.24%.
The reduction in leverage (from 1.94 to 1.63) reflected the
policyholders’ surplus increase (+ 31.01%) in relation to
the increase in net premiums (+ 9.68%), amplifying, thus,
the operational result.
The return in 2005 was benefited by the increase of the
interest rates: 19.04% in 2005 against 14.70% in 2004,
as well as by the increase of 28.55% related to the invested assets, that went up from R$ 19.68 billion in 2004
to R$ 25.30 billion in 2005.
The development of net profit, which went up from R$ 3.33
billion in 2004 to R$ 5.45 billion in 2005 (+ 63.66%), above
the policyholders’ surplus increase (+31.01%), caused ROE
to become the insurance industry new benchmark, showing a return rate of 21.23% in 2005, the equivalent to 4.24
percentage points larger than the 16.99% registered in 2004.
Thus, it was possible for the financial return to offset
the increase of expenses and amplify the return of insurances’ activity.
The return on assets (ROA) was 9.78%, the insurance
industry new benchmark, increased 2.38 percentage points
in relation to the rate of 7.40% achieved in 2004.
Back
21
Returns of Insurance Industry
Period: 2005 – 1999
Ratios
2005
2004
2003
2002
2001
2000
1999
-1.98%
-3.38%
-3.77%
-2.33%
-1.99%
-3.64%
-8.84%
13.95%
14.66%
18.66%
14.46%
14.55%
16.40%
21.97%
22.91%
15.92%
14.47%
12.00%
14.98%
12.18%
14.06%
17.71%
15.25%
16.80%
14.18%
15.21%
16.10%
20.27%
Leverage Ratio
2005
2004
2003
2002
2001
2000
1999
Retained Premium
1.63
1.94
1.71
1.99
2.21
2.11
1.83
6.91%
5.00%
6.71%
6.86%
6.90%
6.02%
5.03%
11.24%
9.72%
11.44%
13.68%
15.24%
12.67%
9.20%
2005
2004
2003
2002
2001
2000
1999
Gross Profit (before taxes)/Retained Premium
15.12%
13.36%
11.35%
10.93%
11.27%
10.45%
10.18%
Gross Profit (before taxes)/Policyholders’ Surplus
24.61%
20.19%
19.87%
21.79%
24.88%
22.01%
18.62%
Net Profit/Retained Premium
13.04%
11.30%
9.85%
9.02%
9.48%
8.63%
8.75%
Net Profit/Polycyholders’ Surplus (ROE)
21.23%
16.99%
17.27%
18.07%
20.92%
18.17%
16.00%
9.78%
7.40%
8.19%
7.43%
7.86%
7.00%
6.46%
Underwriting Result
Industrial Results over Earned Premiums
Investment Result*
Financial Results over Financial Applications
Investment on Fixed or Permanent Assets Result
Equity Results over Permanent Investments
Total Investments Result
(Includes the Non-operational Results)
Financial + Equity + Non-operational Results
Over Financial Applications + Permanent Investments
Premiums Retained over Net Equity
Operational Result **
Industrial Result + Financial Result over Retained Premiums
Operational Result **
Industrial Result + Financial Result over Net Equity
Ratios
Total Gross Result (before taxes)
Total Net Result (Net income for the year)
Net Profit/Total Assets (ROA)
* Investment result not including results on fixed or permanent investment
** Operational Result = Underwriting Result + Investments Result
22
Back
Classification of the Insurance Lines
General Insurance
Motor
20 – Personal Accident Coverage for Passengers of Land
Motor Vehicles
23 – Liability - Interstate and International Land Transit
Carrier
24 – Extended Guarantee/Mechanical
25 – Green Card
26 – Vehicles Popular Insurance
31 – Vehicles
44 – Liability – International Transit Carrier (Cargo)
53 – Facultative Motor Liability
Property
11 – Traditional Fire Policy
12 – Fire – Simple Coverage (Cover note form)
13 – Glass
14 – Homeowners
15 – Theft/Robbery
16 – Comprehensive Condominium Coverage
17 – Riots
18 – Comprehensive Business Coverage
41 – Loss of Profits
42 – Loss of Profits – Simple Coverage
43 – Fidelity Bond
67 – Engineering Risks
71 – Miscellaneous Risks – Combined Plans
73 – Bankers Blanket Bond
76 – Miscellaneous Risks – Combined Plans
96 – Named and Operational Risks
DPVAT (Compulsory ‘no-fault’ bodily injury motor insurance)
88 – DPVAT Convention (Categories 1, 2, 9 and 10)
89 – DPVAT Convention (Categories 3 and 4)
Home/Housing
66 – Home – SFH
68 – Home – Outside the SFH
Cargo (Goods in Transit)
21 – National Cargo
22 – International Cargo
27 – Liability – Intermodal Transit Carrier
32 – Liability – International Transit Carrier (Cargo)
38 – Liability – Railways Transit Carrier (Cargo)
52 – Liability – Air Transit Carrier (Cargo)
54 – Liability – Land Transit Carrier (Cargo)
55 – Liability – Cargo Diversion
56 – Ship Owner’s Liability
58 – Liability – Multimodal Transit Oprerator
Financial Risks
39 – Financial Guarantee
40 – Private Obligations Guarantee
45 – Public Obligations Guarantee
46 – Rental Guarantee
47 – Public Concessions Guarantee
50 – Legal Guarantee
75 – Guarantee
Credit
19 – Export Credit – Commercial Risks
48 – Internal Credit
49 – Export Credit
59 – Export Credit – Political Risks
60 – Domestic Credit – Commercial Risks
70 – Domestic Credit – Personal Risks
Liability
10 – Directors and Officers Liability (D&O)
51 – General Liability
78 – Professional Liability
Hull
33 –
35 –
37 –
57 –
Marine
Aviation
Hangarkeepers Liability
D. P. E. M. (Compulsory “no-fault” bodily injury
insurance for boats’ owners)
84 – Aviation - Ticket
Rural
01 – Agricultural Insurance without FESR Coverage
02 – Agricultural Insurance with FESR Coverage
03 – Farming Insurance without FESR Coverage
04 – Farming Insurance with FESR Coverage
05 – Aquiculture Insurance without FESR Coverage
06 – Aquiculture Insurance with FESR Coverage
07 – Forest Insurance without FESR Coverage
08 – Forest Insurance with FESR Coverage
09 – Insurance in respect of the Rural Product Certificate
28 – Farming – Livestock
29 – Aquiculture
30 – Farming Building and Products
61 – Agricultural
62 – Rural Property and Goods on Lien – Private
Financial Institutions
63 – Rural Property and Goods on Lien – Public Financial
Institutions
64 – Bloodstock and Livestock
65 – Comprehensive Forest
Special Risks
34 – Oil and Gas Risks
72 – Nuclear Risks
74 – Satellites
Others
79 – Insurance Abroad
99 – Branches Abroad
Health
Health
86 – Individual Health Insurance
87 – Group Health Insurance
Life, Personal Accident and Open Pension Funds
Life
77 –
80 –
90 –
91 –
92 –
93 –
94 –
97 –
Credit Life Insurance
Educational Insurance
Random Events
Individual Life
Individual VGBL
Group Life
Group VGBL
Group Life and Personal Accident
Personal Accident
36 – P. C. H. V. (loss of flight license due to disability)
69 – Tourism
81 – Personal Accident – Individual
82 – Personal Accident – Group
Open Pension Funds
PGBL
Traditional Funds
Back
23
1) Total Premium = Insurance Premium – Cancellation – Restitution – Discounts; 2) Gross Earned Premium = Insurance Premium – Ceded
Coinsurance + Accepted Coinsurance; 3) Gross Earned Premium = Insurance Premium + Accepted Coinsurance – Non-Claim Premium
Variation; 4) Net Earned Premium = Insurance Premium – Ceded Reinsurance + Accepted Restitution – Claims – Consortiums and Funds –
Salvage – Reimbursements; 5) Gross Loss = Direct Loss + Accepted Coinsurance Loss – Ceded Coinsurance Loss + Consortium and Fund
Losses – Salvage – Reimbursements; 6) Net Loss = Gross Loss + Accepted Restitution Loss – Ceded Reinsurance Loss + IBNR Variation
Portfolio Mix 2000
R$ thousand
Segments/Groups/Branches
Total
Premium
Motor
Liability – Interstate and Inter. Land Transit Carrier
Vehicles
Liability – International Transit Carrier (Cargo)
Facultative Motor Liability
7,243,910 7,293,101
2,684
2,876
5,649,521 5,694,725
3,084
2,834
1,588,620 1,592,666
175,721
42
138,027
250
37,403
6,869,591
2,806
5,309,472
2,701
1,554,612
29,651
435
8,653
609
19,954
6,840,529
2,371
5,301,078
2,067
1,535,013
4,980,468 4,971,098
298
344
4,083,405 4,071,193
762
1,592
896,003 897,969
7.50%
10.63%
76.91%
28.21%
57.64%
Property
Traditional Fire Policy
Fire – Simple Coverage (Cover note form)
Glass
Theft/Robbery
Riots
Loss of Profits
Loss of Profits – Simple Coverage
Fidelity Bond
Engineering Risks
Miscellaneous Risks
Bankers Blanket Bond
Miscellaneous Risks – Combined Plans
1,701,021 1,712,137
1,173,729 1,179,058
7,697
7,695
63
63
17,857
17,750
140
140
3,809
3,867
150
146
775
788
126,044
126,034
348,342
353,978
22,413
22,617
0
0
173,377
135,363
3
0
335
112
477
4
20
12,354
24,476
234
0
1,709,167
1,152,807
5,158
88
17,823
101
4,774
-896
-3,147
142,046
365,012
25,403
0
576,626
401,780
2,539
3
6,762
30
2,192
51
502
96,282
54,240
12,246
0
1,189,685
791,837
2,655
85
13,579
87
2,584
68
421
45,764
319,448
13,157
0
1,168,327
837,304
733
14
16,071
-2
3,084
0
291
53,714
233,435
23,680
2
770,411
502,218
855
9
8,341
48
218
0
1,342
29,982
206,272
21,124
2
68.36%
72.63%
14.20%
15.48%
90.17%
-1.56%
64.59%
0.00%
-9.26%
37.81%
63.95%
93.22%
-
64.76%
63.42%
32.20%
10,40%
61.43%
55.59%
8.44%
-0.05%
318.51%
65.51%
64.57%
160.55%
-
332,322
234,415
1,393
26
2,424
204
778
39
54
10,018
82,404
567
0
324,817
230,008
1,339
25
2,326
203
760
37
55
9,802
79,701
561
0
DPVAT (Compulsory “no-fault” bodily injury motor insurance) 1,206,050 1,209,796
DPVAT Convention (Categ. 1, 2, 9 and 10)
1,174,008 1,177,754
DPVAT Convention (Categ. 3 and 4)
32,042
32,042
-3,726
-3,727
1
1,212,671
1,176,129
36,542
648,710
629,646
19,064
565,655
548,120
17,534
330,524
315,013
15,511
437.076
426.021
11.055
27.26%
26.78%
42.45%
77.27%
77.72%
63.05%
7,606
627
6,979
7,025
360
6,665
Written
Insurance
Premium
Ceded
Gross Earned
Ceded
Co-insurance
Premium
Reinsurance
Net Earned
Premium
Gross
Loss
Net
Loss
Gross Loss
Ratio
Net Loss
Ratio
Gross
Expenses
72.67% 1,400,176
14.53%
439
76.80% 1,112,876
77.03%
278
58.50% 286,583
Net
Expenses
1,350,407
453
1,071,912
293
277,750
Home/Housing
Home - SFH
Home – Outside the SFH
898,366
672,157
226,210
893,294
674,570
218,724
213,212
198,727
14,485
883,052
664,594
218,459
698,870
659,024
39,846
198,148
15,172
182,976
465,170
384,150
81,020
77,950
7,102
70,847
52.68%
57.80%
37.09%
39.34%
46.81%
38.72%
-7,719
-1,446
-6,273
-7,377
-1,534
-5,844
Cargo
National Cargo
International Cargo
Liability – Air Transit Carrier (Cargo)
Liability – Land Transit Carrier (Cargo)
Liability – Cargo Diversion
Ship Owner’s Liability
819,011
232,176
235,402
2,055
219,848
128,982
548
834,971
237,242
244,446
2,396
220,426
129,954
507
62,939
20,469
28,240
4
10,996
3,154
76
830,081
234,326
243,218
2,260
219,919
129,883
475
71,220
8,295
55,668
47
4,295
2,888
26
784,667
232,426
206,956
2,213
215,624
126,993
455
482,270
162,304
81,752
922
105,484
131,788
20
454,459
156,098
69,521
902
99,090
128,787
61
58.10%
69.26%
33.61%
40.78%
47.96%
101.47%
4.30%
57.92%
67.16%
33.59%
40.77%
45.95%
101.41%
13.45%
153,018
44,613
39,043
787
41,887
26,637
51
148,064
43,441
38,417
724
39,988
25,452
43
95,893
17,947
77,946
97,824
17,906
79,919
5,174
91
5,083
85,699
-1,356
87,055
62,537
1,502
61,034
43,338
17,297
26,041
14,659
10,141
4,518
17,343
17.11%
13,144 -747.95%
4,199
5.19%
40.02%
75.99%
1.13%
1,876
3,869
-1,993
2,691
3,758
-1,068
Credit
Internal Credit
Export Credit
129,988
123,418
6,569
129,968
123,399
6,569
2,408
2,408
0
124,338
118,263
6,075
16,334
10,554
5,780
108,360
107,709
651
41,686
33,497
8,189
36,056
33,805
2,251
33.53%
28.32%
134.79%
33.27%
31.39%
345.86%
23,132
24,439
-1,307
21,920
23,225
-1,305
Liability
General Liability
153,594
153,594
154,002
154,002
7,726
7,726
170,376
170,376
79,816
79,816
90,560
90,560
66,288
66,288
55,354
55,354
38.91%
38.91%
61.12%
61.12%
13,885
13,885
13,458
13,458
Hull
Marine
Aviation
D.P.E.M. (Compulsory “no-fault” bodily injury insurance for boats’ owners)
Aviation – Ticket
151,035
48,696
100,714
0
1,625
0
157,291
49,453
106,208
0
1,631
0
19,874
3,057
16,817
0
0
0
159,936
51,005
0
-91
1,929
107,093
100,679
22,308
78,229
0
143
0
60,168
28,697
29,724
0
1,748
0
172,956
39,891
0
0
748
132,317
60,818
31,775
28,037
0
1,016
-10
108.14%
78.21%
0.00%
38.77%
123.55%
101.08%
110.73%
94.33%
58.13%
-
9,668
7,476
0
0
947
1,245
9,315
7,161
1,257
0
898
0
Rural
Agricultural
Rural Property and Goods on Lien – Private Financial Institutions
Rural Property and Goods on Lien – Public Financial Institutions
Bloodstock and Livestock
Comprehensive Forest
78,163
43,036
9,403
23,593
1,534
596
79,946
44,899
9,293
23,593
1,565
596
6,980
6,247
677
10
46
0
53,835
42,340
8,113
1,062
1,536
785
32,112
21,433
2,974
6,344
938
424
41,900
21,036
5,164
14,724
603
373
181,363
171,339
3,647
5,082
1,026
268
32,875
24,590
2,905
3,802
1,331
247
336.89%
404.68%
44.96%
478.41%
66.83%
34.10%
78.46%
116.90%
56.24%
25.82%
220.73%
66.11%
-2,601
-1,909
570
-1,337
55
20
-2,762
1,987
529
1,373
53
17
Special Risks
Oil & Gas Risks
Nuclear Risks
Satellites
28,454
25,237
3,217
0
28,457
25,240
3,217
0
7,087
7,087
0
0
31,589
29,153
3,218
-781
25,310
21,999
3,311
0
7,061
7,153
-93
0
4,104
4,104
0
0
4,586
4,579
7
0
12.99%
14.08%
0.00%
0.00%
64.96%
64.01%
-7.89%
-
-67
-43
-23
0
-86
-64
-23
0
1,598
395
1,204
1,598
395
1,204
0
0
0
1,598
394
1,204
0
0
0
1,598
394
1,204
5,319
1,799
3,520
5,134
1,614
3,520
332.83%
456.05%
292.45%
321.24%
409.11%
292.45%
246
196
49
245
196
49
670,773 12,131,935 2,341,866
9,931,666
7,913,134 6,923,160
65.23%
69.71% 1,931,541
1,867,717
Financial Risks
Rental Guarantee
Guarantee
Others
Insurance Abroad
Branches Abroad
Claims Segment
12,507,082 12,592,385
Health
Health
Individual Health
Group Health
5,694,892 5,694,418
9,967
9,967
2,558,825 2,558,983
3,126,099 3,125,468
33,646
0
5,573
28,073
5,578,234
9,829
2,549,813
3,018,592
149,730
0
98,433
51,297
5,428,507
9,829
2,451,380
2,967,297
4,531,759 4,359,341
7,917
7,812
1,950,113 1,859,475
2,573,729 2,492,054
81.24%
80.54%
76.48%
85.26%
80.30%
79.48%
75.85%
83.98%
261,490
581
100,499
160,410
272.981
679
102,595
169,708
Health Segment
5,694,892 5,694,418
33,646
5,578,234
149,730
5,428,507
4,531,759 4,359,341
81.24%
80.30%
261,490
272,981
Personal/Life
Random Events
Individual Life
Group Life
3,991,299 4,005,868
88,402
87,853
299,443
299,175
3,406,709 3,434,023
196,746
184,818
384,070
1,380
863
352,237
29,589
3,786,946
87,257
145,776
3,372,042
181,872
68,560
61
287
65,774
2,438
3,720,082
87,195
147,126
3,306,270
179,491
1,862,566 1,855,038
35,376
35,231
22,003
21,089
1,732,027 1,721,711
73,160
77,008
49.18%
40.54%
15.09%
51.36%
40.23%
49.87%
40.40%
14.33%
52.07%
42.90%
996,874
17,464
60,743
880,783
37,883
984,297
16,424
57,738
872,711
37,423
700,261
0
8,100
541,325
150,836
70,336
0
16
51,356
18,964
695,258
0
8,099
543,687
143,472
11,315
0
137
9,316
1,862
683,957
0
7,974
534,370
141,613
162,542
-3
1,857
123,463
37,225
22.80%
26.49%
22.38%
24.17%
23.76%
23.29%
23.10%
26.29%
146,802
0
665
108,968
37,168
143,605
0
751
107,858
34,996
4,696,836 4,706,129
454,405
4,482,204
79,875
4,404,040
2,021,072 2,017,580
45.09%
45.81% 1,143,676
1,127,902
Personal Accident
P.C.H.V. (Loss of flight license due to disability)
Tourism
Personal Accident – Individual
Personal Accident – Group
Life Segment (Life+PA)
Total Pension Funds
Personal Segment
(Life+PA+Pension)
24
Total Insurance Market
705,537
0
8,101
542,877
154,558
4,381,062
Back
4,696,836 9,087,191
158,506
0
2,146
121,688
34,673
1,934,745
454,405 4,482,204
124,974
79,875 4,404,040 2,021,072 3,952,325
45.09%
89,74% 1,143,676 1,252,876
22,898,810 22,992,932 1,158,824 22,192,374 2,571,471 19,764,212 14,465,965 13,300,082
65.18%
67,29% 3,336,706
3,268,601
Portfolio Mix 2001
R$ thousand
Total
Premium
Motor
Vehicles
7,931,616 7,945,472
3,308
3,466
6,222,546 6,236,079
7,003
6,836
1,698,760 1,699,091
83,949
134
66,376
167
17,272
7,721,250
3,554
6,046,679
6,516
1,664,501
25,180
905
8,103
1,914
14,258
7,696,479
2,649
6,038,786
4,602
1,650,441
5,303,431 5,309,026
884
893
4,406,720 4,420,121
3,918
2,930
891,910 885,082
68.69%
24.87%
72.88%
60.13%
53.58%
Property
Glass
Theft/Robbery
Riots
Loss of Profits
Fidelity Bond
Engineering Risks
Miscellaneous Risks
2,111,331 2,105,571
1,461,983 1,451,959
22,564
22,563
46
46
21,707
21,832
24
24
4,586
4,484
222
220
1,069
1,060
156,486
160,012
402,060
402,742
40,586
40,630
0
0
235,726
191,278
0
0
462
0
344
3
16
15,071
28,428
125
0
1,680,637
1,430,326
18,748
54
21,894
74
5,041
179
1,003
157,987
0
45,332
0
837,707
619,545
3,688
0
7,649
8
3,526
16
647
119,849
64,005
18,774
0
1,247,130
812,125
15,059
55
14,252
66
1,537
162
356
42,177
334,071
27,268
0
1,046,458
972,235
2,501
11
13,797
3
-25
39
-147
47,938
0
10,105
0
749,566
507,648
2,548
16
9,055
23
-385
43
-888
18,699
210,411
2,259
138
62.27%
60.10%
67.97%
62.51%
13.34%
16.92%
20.28%
29.00%
63.02%
63.53%
4.47%
34.39%
-0.49%
-25.06%
22.11%
26.37%
-14.70% -249.65%
30.34%
44.33%
62.98%
22.29%
8.28%
- 553588.00%
1,249,612 1,250,045
30,993
30,953
1,345
594
752
625,900
607,315
18,585
25,497
20,852
4,645
600,404
586,464
13,940
472,913
459,019
13,894
472,913
457,955
14,958
75.56%
75.58%
74.76%
72,350 141.58%
-661 39679.95%
73,010
25.51%
Written
Insurance
Premium
Ceded
Ceded
Gross Earned
Co-insurance
Premium Reinsurance
Net Earned
Premium
Gross
Loss
Net
Loss
Gross Loss
Ratio
Net Loss
Ratio
Gross
Expenses
Net
Expenses
68.98% 1,558,056
33.70%
417
73.20% 1,259,129
63.66%
590
53.63% 297,920
1,498.844
406
1,209,852
548
288,037
350,885
246,492
6,290
11
2,661
23
578
51
56
6,629
87,507
589
-1
337,922
234,518
6,275
11
2,615
23
558
51
53
6,363
86,958
497
-1
78.77%
78.09%
107.30%
8,590
2
8,588
7,277
5
7,271
29.10%
808.83%
29.36%
-540
593
-1,132
-4,204
-1,065
-3,139
Home/Housing
Home - SFH
791,856
501,385
290,471
797,715
507,258
290,457
158,419
143,113
15,306
298,923
875
298,048
50,330
957
49,374
248,619
-82
248,701
423,229
347,185
76,044
Cargo
National Cargo
International Cargo
Liability – Multimodal Transit Operator
954,805
261,629
300,037
2,604
247,149
143,026
360
0
980,295
268,410
312,124
3,415
252,109
143,904
334
0
84,946
26,343
39,909
148
13,767
4,731
48
0
1,021,441
282,107
323,241
3,613
261,495
150,617
368
0
103,949
15,470
78,705
108
6,258
3,406
1
0
918,402
266,635
245,447
3,506
255,236
147,211
367
0
506,312
165,938
108,594
2,020
119,191
110,612
-44
0
504,876
169,420
94,501
2,896
123,401
114,738
-80
0
49.57%
58.82%
33.60%
55.92%
45.58%
73.44%
-11.99%
-
54.97%
63.54%
38.50%
82.62%
48.35%
77.94%
-21.70%
-
169,611
52,406
41,794
1,060
46,570
27,744
39
0
165,426
51,038
40,833
999
45,316
27,201
38
0
Financial Risks
Rental Guarantee
Guarantee
122,725
24,086
98,639
122,670
24,029
98,642
3,261
75
3,186
120,229
22,024
98,205
80,185
738
79,447
41,324
21,350
19,975
39,613
8,870
30,743
36,636
9,289
27,348
32.95%
40.27%
31.31%
88.66%
43.51%
136.91%
-2,691
4,478
-7,169
-918
4,590
-5,508
Credit
Internal Credit
Export Credit
156,074
146,632
9,443
155,036
145,593
9,443
3,083
3,083
0
141,103
132,006
9,097
20,843
12,980
7,863
120,623
119,390
1,233
83,760
76,529
7,232
82,654
79,819
2,835
59.36%
57.97%
79.49%
68.52%
66.86%
229.92%
21,592
23,497
-1,905
21,816
23,719
-1,903
Liability
General Liability
192,051
192,051
193,147
193,147
8,991
8,991
192,326
192,326
106,524
106,524
88,188
88,188
96,646
96,646
75,206
75,206
50.25%
50.25%
85.28%
85,28%
10,016
10,016
9,474
9,474
Hull
Marine
Aviation
Aviation – Ticket
315,824
71,437
242,911
0
1,475
0
274,887
71,656
201,751
0
1,481
0
71,666
5,023
66,642
0
0
0
274,886
70,291
0
0
1,449
203,146
215,954
36,747
179,063
0
145
0
46,931
34,278
11,349
0
1,304
0
145,085
46,919
3
0
543
97,620
65,639
39,173
25,928
0
535
3
52.78%
66.75%
37.50%
48.05%
139.86%
114.28%
228.46%
41.02%
-
8,334
8,175
0
0
566
-408
7,862
8,099
-792
0
555
0
Rural
Farming – Livestock
Aquiculture
Farming Building and Products
Agricultural
81,568
0
0
0
34,706
12,791
31,063
2,496
513
81,137
0
0
0
34,219
12,837
31,062
2,507
513
2,368
0
0
0
2,063
252
3
50
0
82,302
0
0
0
39,144
11,715
28,531
2,310
602
39,633
0
0
0
26,137
4,321
7,244
1,458
471
42,670
0
0
0
13,006
7,394
21,287
853
130
38,006
0
0
0
20,469
6,336
9,700
1,389
112
21,531
0
0
0
8,948
5,015
6,866
594
109
46.18%
52.29%
54.08%
34.00%
60.15%
18.56%
50.46%
68.80%
67.82%
32.25%
69.59%
83.74%
-4,033
0
0
0
-3,548
667
-962
-47
-143
-4,018
0
0
0
-3,552
644
-975
-45
-90
135,399
128,047
7,352
0
128,700
121,348
7,352
0
62,595
62,595
0
0
129,835
122,485
7,351
0
122,922
115,558
7,364
0
7,693
7,707
-13
0
1,177,457
1,177,447
10
0
9,118
9,108
10
0
906.88%
961.30%
0.14%
-
118.51%
118.18%
-76.41%
-
-210
206
-417
0
-162
212
-375
0
355
9
345
355
9
345
0
0
0
355
9
345
0
0
0
371
26
345
1,610
367
1,243
-447 454.05% -120.42%
-1,690 3868.74% -6405.86%
1,243 360.26%
360.26%
51
49
2
50
48
2
2,039,368
Special Risks
Oil & Gas Risks
Nuclear Risks
Satellites
Others
Insurance Abroad
Branches Abroad
Claims Segment
14,074,209 14,065,983
716,348 12,289,187 1,628,724 11,058,835
9,334,521 7,399,068
75.96%
66.91% 2,119,662
Health
Health
Individual Health
Group Health
6,052,658
1,053,418
2,102,451
2,896,789
6,063,217
1,053,418
2,102,331
2,907,468
27,458
0
3,674
23,785
6,044,804
0
2,447,483
3,597,321
20,208
0
688
19,521
6,024,595
1,020,312
2,097,571
2,906,712
5,071,327 5,011,928
0 848,269
1,945,477 1,675,057
3,125,850 2,488,602
83.90%
0.00%
79.49%
86.89%
83.19%
83.14%
79.86%
85.62%
242,042
0
47,846
194,196
233,989
48,844
40,404
144,741
Health Segment
6,052,658 6,063,217
27,458
6,044,804
20,208
6,024,595
5,071,327 5,011,928
83.90%
83.19%
242,042
233,989
Personal/Life
Random Events
Individual Life
Group Life
4,329,987 4,384,840
101,822
99,882
392,699
391,864
3,644,757 3,707,755
190,710
185,339
353,282
3,007
933
331,280
18,062
4,262,567
100,293
3,777,378
199,615
185,281
75,915
2,679
856
69,968
2,412
4,187,239
97,614
198,787
3,707,964
182,874
2,018,519 2,059,506
50,341
51,847
1,827,596
69,268
69,477 1,864,711
71,104
73,680
47.35%
50.19%
48.38%
34.81%
38.38%
49.19% 1,075,757
53.11%
14,448
34.85% 966,465
50.29%
65,660
40.29%
29,184
1,061,553
14,402
64,637
955,152
27,363
827,298
82
9,785
549,110
268,321
67,103
0
4
38,079
29,019
813,095
82
9,782
536,604
266,627
12,804
41
195
8,738
3,831
800,680
41
9,587
528,230
262,822
5,138,172 5,212,138
420,384
5,075,662
88,719
4,987,919
Personal Accident
Tourism
Total Pension Funds
Personal Segment
(Life+PA+Pension)
808,185
82
9,782
542,942
255,379
6,321,586
5,138,172 11,533,724
198,358
43
3,857
124,700
69,758
202,493
47
3,797
125,098
73,552
24.40%
52.94%
39.43%
23.24%
26.16%
2,216,877 2,261,999
43.68%
25.29%
114.64%
39.60%
23.68%
27.99%
178,710
3
993
113,214
64,499
173,437
3
1,061
107,829
64,544
45.35% 1,254,467
1,234,991
2,939,754
420,384
5,075,662
88,719
4,987,919
94,620
104.29%
Back
251,329,611
2,216,877 5,201,753
43.68%
1,254,467
25,265,039 25,341,338 1,164,191 23,409,653 1,737,652 22,071,267 16,622,725 14,672,972
71.01%
66.48% 3,616,171
3,508,348
Portfolio Mix 2002
R$ thousand
Total
Premium
Motor
Vehicles
8,198,106 8,202,439
5,930
5,703
6,468,508 6,473,387
7,665
7,657
1,716,003 1,715,692
57,177
226
45,400
8
11,542
Property
Glass
Theft/Robbery
Riots
Loss of Profits
Fidelity Bond
Engineering Risks
Miscellaneous Risks
2,744,421 2,776,033
1,955,031 1,986,588
28,052
28,051
57
57
27,609
27,721
24
24
6,384
6,342
90
90
840
849
208,988
206,323
456,087
458,730
61,245
61,245
14
12
291,578
242,287
0
0
454
0
193
3
-3
28,281
20,163
198
1
1,365,234 1,365,234
52,931
52,915
195
0
195
670,341
642,512
27,830
776,634
441,413
335,221
5,075
1,894
3,181
1,048,721 1,071,081
291,693
298,760
327,275
339,215
3,429
3,133
266,765
268,648
159,297
161,076
261
248
0
0
Home/Housing
Home - SFH
776,607
443,258
333,348
Cargo
National Cargo
International Cargo
Written
Insurance
Premium
Ceded
Gross Earned
Ceded
Co-insurance
Premium
Reinsurance
7,998,800
5,690
6,294,558
7,556
1,690,996
Net Earned
Premium
Gross
Loss
Net
Loss
Gross Loss
Ratio
70.81%
201.88%
74.24%
16.75%
57.84%
Net Loss
Ratio
Gross
Expenses
71.01% 1,546,069
48.40%
832
74.34% 1,243,449
1.53%
726
58.78% 301,062
Net
Expenses
55,271
1,284
28,866
2,359
22,762
7,943,650
4,406
6,265,700
5,197
1,668,349
5,663,906 5,640,667
11,487
2,132
4,673,004 4,657,764
1,266
80
978,149 980,691
1,548,494
832
1,245,207
714
301,741
2,696,012 1,252,019
1,928,551 971,928
24,293
4,301
63
0
25,903
10,968
23
11
6,073
4,616
129
2
904
443
202,371 158,601
446,841
84,744
60,856
16,404
6
0
1,444,974
956,612
19,992
63
14,934
12
1,454
127
461
44,868
361,972
44,475
6
1,587,819
1,204,131
3,129
40
17,843
19
2,066
29
75
117,253
229,393
13,840
0
789,311
538,642
3,155
78
8,573
19
-995
32
-165
23,736
219,827
-3,591
1
58.90%
62.44%
12.88%
64.02%
68.88%
85.31%
34.02%
22.85%
8.30%
57.94%
51.34%
22.74%
0.00%
54.62%
56.31%
15.78%
123.87%
57.41%
162.24%
-68.42%
24.89%
-35.91%
52.90%
60.73%
-8.07%
8,81%
369,101
259,034
7,910
2
3,045
0
583
31
52
10,683
87,566
194
0
365,504
256,922
8,219
4
2,916
2
365
32
58
11,209
85,552
225
0
3,687
161
3,526
666,652
642,348
24,304
505,174
483,757
21,417
505,174
483,760
21,413
75.36%
75.29%
76.96%
75.78%
75.31%
88.11%
13,987
878
13,109
14,002
1,070
12,932
309,077
22
309,055
44,095
0
44,095
264,981
22
264,959
473,180
372,821
100,359
90,486 153.09%
13 1666490.39%
90,472
32.47%
34.15%
60.02%
34.15%
-248
1,372
-1,619
-1,091
1,009
-2,100
76,777
24,151
35,011
234
12,592
4,752
38
0
1,062,381
294,429
337,004
3,135
268,028
159,538
247
0
129,792
22,410
93,095
78
10,653
3,526
30
0
932,541
272,047
243,834
3,056
257,375
156,012
217
0
531,468
173,274
111,996
1,479
143,716
100,832
170
0
481,457
170,722
61,372
1,114
146,429
101,820
2
0
50.03%
58.85%
33.23%
47.19%
53.62%
63.20%
68.89%
51.63%
62.75%
25.17%
36.44%
56.89%
65.26%
0.84%
193,683
58,006
46,708
822
53,682
34,423
43
0
188,647
55,474
44,268
822
53,578
34,462
43
0
Financial Risks
Rental Guarantee
Guarantee
192,260
27,709
164,551
189,677
27,688
161,988
8,715
26
8,689
182,267
24,178
158,089
135,472
787
134,685
48,560
23,416
25,144
50,853
11,340
39,513
18,514
12,318
6,196
27.90%
46.90%
24.99%
38.13%
52.61%
24.64%
-8,365
4,701
-13,065
-10,160
4,685
-14,845
Credit
Internal Credit
Export Credit
190,899
177,027
13,872
191,218
177,346
13,872
0
0
0
174,400
161,940
12,460
27,664
16,064
11,599
146,992
146,130
862
114,503
107,900
6,603
125,213
124,293
920
65.66%
66.63%
52.99%
85.18%
85.06%
106.76%
23,113
25,686
-2,573
23,081
25,750
-2,670
Liability
General Liability
280,456
280,456
281,777
281,777
18,502
18,502
272,081
272,081
174,164
174,164
98,544
98,544
87,863
87,863
70,197
70,197
32.29%
32.29%
71.23%
71.23%
8,591
8,591
7,150
7,150
Hull
Marine
Aviation
Aviation – Ticket
381,287
92,289
287,085
5
1,908
0
440,684
92,512
346,259
5
1,908
0
70,811
2,525
68,286
0
0
0
435,376
89,463
343,881
5
1,841
185
362,783
54,386
308,253
0
145
0
72,215
34,884
35,629
5
1,697
0
295,458
64,716
249,208
0
461
-18,926
65,663
67.86%
37,601
72.34%
27,499
72.47%
0
0.00%
559
25.03%
4 -10236.85%
90.93%
107.79%
77.18%
0.00%
32,95%
-
12,533
8,995
0
0
716
2,821
12,811
9,161
2,931
0
719
0
Rural
Farming – Livestock
Aquiculture
Farming Building and Products
Agricultural
105,453
0
0
2,411
48,445
12,694
38,727
2,476
698
105,441
0
0
2,411
48,449
12,682
38,727
2,473
698
7
0
0
0
0
4
0
3
0
100,302
0
0
1,399
49,083
11,853
34,961
2,395
612
60,558
0
0
906
43,731
4,050
9,954
1,357
560
39,745
0
0
493
5,352
7,803
25,007
1,038
53
96,716
0
0
1,286
78,291
7,358
7,487
2,139
155
26,596
0
0
1,059
12,170
5,481
7,012
816
58
96.42%
91.90%
159.51%
62.08%
21.42%
89.30%
25.42%
66,92%
214.76%
227.41%
70.24%
28.04%
78.60%
108.28%
-4,774
0
0
82
-4,012
943
-1,728
17
-76
-4,657
0
0
88
-3,979
992
-1,715
17
-60
Special Risks
Oil & Gas Risks
Nuclear Risks
Satellites
134,157
125,391
8,766
0
123,445
114,679
8,766
0
52,193
52,193
0
0
123,507
114,741
8,766
0
118,937
109,879
9,058
0
1,787
2,080
-292
-1
8,323
8,323
0
0
1,650
1,649
0
0
6.74%
7.25%
0.00%
0.00%
92.32%
79.29%
-0.01%
0.00%
811
1,276
-465
0
933
1,402
-470
0
1,710
-3
1,713
1,710
-3
1,713
0
0
0
1,710
-3
1,713
0
0
0
1,710
-3
1,713
1,190
1,065
125
1,178
69.59%
68.90%
1,053 -40020.12% -39576.09%
125
7.29%
7.29%
622
23
599
107
23
83
2,144,820
Others
Insurance Abroad
Branches Abroad
Claims Segment
15,472,241 15,578,287
Health
ANS Health
Individual Health
Group Health
6,326,589 6,326,594
6,067,689 6,067,689
117,236
117,236
141,663
141,669
24
0
19
4
6,315,000
6,003,548
127,009
184,443
56,644
0
9,866
46,779
Health Segment
6,326,589 6,326,594
24
6,315,000
Personal/Life
Random Events
Individual Life
Group Life
7,241,018 7,290,540
131,649
127,871
2,963,065 2,962,376
3,945,700 4,004,074
200,604
196,220
332,372
7,108
689
314,373
10,202
953,840
101
9,784
532,366
411,589
8,179,636 8,244,380
Personal Accident
Tourism
Total Pension Funds
Personal Segment
(Life+PA+Pension)
26
938,619
101
9,784
517,512
411,222
581,029 14,026,254 2,364,441 11,662,352
9,416,453 7,816,105
67.13%
67.02% 2,155,123
6,258,356
6,003,548
117,144
137,664
5,077,145 5,136,611
4,874,073 4,930,553
88,689
91,859
114,383 114,199
80.40%
81.19%
69.83%
62.02%
82.08%
82.13%
78.42%
82.95%
257,205
0
30,593
226,611
233,521
56,644
6,258,356
5,077,145 5,136,611
80.40%
82.08%
257,205
233,521
4,661,913
126,541
391,898
3,952,523
190,950
86,451
2,868
1,332
80,656
1,596
4,575,420
123,673
390,564
3,871,829
189,355
2,601,533 2,445,089
62,703
62,647
188,380 193,657
2,281,808 2,124,172
68,643
64,612
55.80%
49.55%
48.07%
57.73%
35.95%
53.44% 1,142,227
50.66%
17,095
49.58% 121,407
54.86% 971,885
34.12%
31,840
1,102,452
20,318
112,102
941,988
28,044
50,535
0
0
6,360
44,175
905,584
101
9,638
536,236
359,608
12,852
81
98
7,493
5,180
892,746
20
9,541
528,756
354,429
256,503
5
3,415
139,258
113,825
26.95%
2.98%
34.35%
26.19%
27.91%
28.73%
23.74%
35.80%
26.34%
32.12%
189,490
8
1,695
110,070
77,716
187,628
10
1,585
110,080
75,953
382,907
5,567,496
99,303
5,468,166
2,845,619 2,701,591
51.11%
49.41% 1,331,717
1,290,080
6,735,440
Back
8,179,636 14,979,820
29,978,466 30,149,261
244,085
3
3,310
140,423
100,349
3,839,521
382,907
5,567,496
99,303
5,468,166
32,345
201,176
100,786
2,845,619 6,541,112
51.11%
119.62% 1,331,717
1,390,866
963,959 25,908,750 2,520,389 23,388,388 17,339,217 15,653,821
66.92%
66.93% 3,744,044
3,668,421
Portfolio Mix 2003
R$ thousand
Motor
Total
Premium
Written
Insurance
Premium
Ceded
Gross Earned
Ceded
Net Earned
Co-insurance
Premium Reinsurerance Premium
Extended Guarantee/Mechanical
Green Card
Vehicles
8,938,813 8,940,534
131,496
131,646
15,334
15,364
4,627
4,627
602
602
6,999,407 7,001,051
3,834
3,812
1,783,513 1,783,432
54,554
1,049
358
0
0
42,895
22
10,229
Property
Glass
Homeowners
Theft/Robbery
Comprehensive Condominium Coverage
Riots
Comprehensive Business Coverage
Loss of Profits
Fidelity Bond
Engineering Risks
Miscellaneous Risks
Named and Operational Risks
3,483,070 3,456,819
667,855
640,052
15,310
14,952
(6)
(3)
460,114
460,566
41,238
41,335
96,389
96,217
(14)
(14)
742,141
739,949
13,209
13,219
0
0
114
112
138,148
140,152
518,099
519,819
62,088
62,088
1
1
728,384
728,374
432,348
205,385
0
0
2,594
486
719
0
19,699
187
0
2
14,803
13,903
86
0
174,482
1,441,455 1,441,454
28,176
28,164
15
0
15
693,395
677,994
15,401
771,126
416,108
355,019
823
0
823
1,174,987 1,176,636
Cargo
341,253
341,650
National Cargo
340,233
340,437
International Cargo
Liability – Intermodal Transit Carrier
8
8
8,933
9,029
Liability – Railways Transit Carrier (Cargo)
137
136
8,823
8,572
299,524
300,433
174,332
174,626
1,743
1,745
1
1
Personal Accident Coverage for Passengers of Land Motor Vehicles
Home/Housing
Home - SFH
771,071
416,108
354,964
8,563,105
93,876
8,974
3,947
562
6,721,211
3,914
1,730,622
Gross
Loss
Net
Loss
Gross Loss
Ratio
72.02%
10.78%
58.06%
28.84%
1.11%
75.09%
15.45%
63.78%
Net Loss
Ratio
Gross
Expenses
Net
Expenses
65,961
764
1,754
2,178
1
33,097
1,274
26,893
8,497,130
93,112
7,221
1,769
560
6,688,097
2,640
1,703,731
6,167,505 6,155,680
10,120
12,057
5,211
5,412
1,138
712
6
7
5,046,719 5,039,594
605
362
1,103,707 1,097,536
72.44% 1,689,770
12.95%
19,521
74.96%
1,930
40.25%
(338)
1.21%
137
75.35% 1,338,630
13.71%
284
64.42% 329,606
1,637,492
18,917
1,870
(327)
133
1,297,215
275
319,409
3,355,149 1,583,139
1,042,694 510,117
14,328
2,441
23
0
276,703
10,233
39,742
7,932
62,604
16,036
(12)
(1)
501,265 208,021
12,736
10,604
1
0
142
(0)
141,817
99,393
516,218
81,312
60,966
11,345
7
0
685,914 625,708
1,776,588
535,958
11,887
23
266,470
31,810
46,569
(11)
293,152
2,133
1
143
43,717
434,892
49,631
7
60,206
1,478,096
780,231
1,599
41
103,371
15,449
22,549
0
235,018
(327)
0
(7)
69,647
181,165
2,002
(0)
67,358
846,458
349,712
1,436
30
107,472
10,658
20,701
(0)
171,078
190
0
21
11,382
168,690
(1,133)
(1)
6,223
44.05%
74.83%
11.16%
175.20%
37.36%
38.87%
36.02%
0.00%
46.88%
-2.57%
1.12%
-4.60%
49.11%
35.09%
3.28%
-0.92%
9.82%
47.65%
65.25%
12.08%
126.22%
40.33%
33.50%
44.45%
0.23%
58.36%
8.92%
1.12%
14.46%
26.04%
38.79%
-2.28%
-7.73%
10.34%
448,780
163,795
4,748
6
69,888
3,253
18,163
1
92,148
285
0
22
14,342
63,075
2,986
0
16,065
434,896
158,727
4,601
6
67,726
3,153
17,601
1
89,297
276
0
22
13,898
61,124
2,894
0
15,568
4,701
132
4,569
688,694
677,862
10,832
351,479
338,494
12,985
527,969
508,464
19,505
50.69%
49.93%
84.31%
76.66%
75.01%
180.07%
2,495
430
2,065
2,418
416
2,001
342,611
0
342,611
46,309
0
46,309
296,268
0
296,268
116,710
7,311
109,400
111,391
0
111,391
34.06%
0.00%
31.93%
37.60%
0.00%
37.60%
(3,891)
287
(4,178)
(3,771)
278
(4,048)
86,451
23,908
37,599
0
(32)
11
1,122
16,092
7,737
14
0
1,180,558
343,107
340,858
8
8,946
129
8,578
301,389
175,797
1,746
1
136,051
22,957
95,505
0
1,488
12
160
11,285
4,472
172
0
1,044,484
320,140
245,343
8
7,458
117
8,415
290,104
171,325
1,573
1
549,931
182,383
92,772
99
3,565
5
5,838
151,221
113,792
252
4
528,287
46.58%
180,856
53.16%
67,463
27.22%
100 1252.73%
3,068
39.85%
6
3.80%
6,611
68.06%
153,612
50.17%
116,049
64.73%
518
14.45%
4 541.11%
50,58%
56.49%
27.50%
1282.78%
41.14%
4.88%
78.55%
52.95%
67.74%
32.91%
548.88%
213,582
62,183
47,923
1
1,352
693
2,152
60,864
38,241
173
0
206,974
60,259
46,441
1
1,310
672
2,086
58,981
37,058
168
0
53.77%
36.57%
19.38%
26.50%
48.11%
11.88%
489.34%
87.50%
(10,051)
(270)
(4,374)
(3,242)
5,284
(2,776)
(1,417)
(3,256)
(9,740)
(261)
(4,239)
(3,142)
5,121
(2,690)
(1,374)
(3,155)
62,.19%
98.73%
-7288720.75%
79.79%
129.91%
28.17%
12.85%
- -1127.32%
49.33%
56.28%
16.17%
24.54%
27,380
77
18,024
(3,147)
0
8,728
3,698
26,533
75
17,466
(3,050)
0
8,458
3,584
Financial Risks
Financial Guarantee
Private Obligations Guarantee
Public Obligations Guarantee
Rental Guarantee
Public Concessions Guarantee
Legal Guarantee
Guarantee
161,413
4,045
42,827
37,987
26,663
22,468
7,937
19,485
163,718
2,181
42,679
37,745
26,656
22,349
7,928
24,179
6,222
2,139
757
745
23
1,047
42
1,469
162,733
3,039
38,951
35,820
25,550
22,204
7,699
29,470
112,048
1,145
34,147
29,981
492
22,036
7,569
16,677
51,762
2,211
4,819
5,839
25,082
167
129
13,514
45,359
2,577
1,028
3,817
14,491
0
0
23,445
27,834
808
934
1,548
12,066
20
633
11,825
Credit
Export Credit – Commercial Risk
Internal Credit
Export Credit
Export Credit – Political Risk
Domestic Credit – Commercial Risk
Domestic Credit – Personal Risk
251,889
0
142,782
12,766
0
79,597
16,743
251,901
0
142,782
12,766
0
80,453
15,900
843
0
0
0
0
0
843
233,133
0
124,377
13,268
0
80,152
15,336
44,493
0
7,450
10,565
0
26,259
219
188,651
(0)
116,936
2,703
(0)
53,894
15,118
144,994
(4)
99,242
3,738
0
39,539
2,480
186,263
(39)
151,910
347
2
30,331
3,711
Liability
Directors and Officers Liability (D&O)
General Liability
Professional Liability
414,763
51,865
314,281
48,617
412,777
52,466
311,688
48,623
22,342
1,621
20,647
73
398,559
47,844
307,340
43,375
268,981
42,197
191,604
35,180
129,567
5,648
115,725
8,195
136,696
1
134,995
1,701
73,033
1,317
69,533
2,183
34.30%
0.00%
43.92%
3.92%
56.37%
23.32%
60.08%
26.64%
11,045
841
8,105
2,100
10,704
815
7,854
2,035
Hull
Marine
Aviation
Aviation – Ticket
531,004
110,683
417,236
1,392
1,692
0
543,231
110,094
430,052
1,392
1,692
0
68,101
3,713
64,388
0
0
0
542,772
106,557
433,148
1,357
1,710
0
461,522
65,803
394,208
1,367
145
0
81,009
38,744
40,711
(10)
1,565
0
290,920
69,597
220,683
0
639
1
49,719
30,064
19,178
19
457
1
53.60%
65.31%
50.95%
0.00%
37.38%
-
61.37%
77.60%
47.11%
-191.68%
29.22%
-
16,765
11,469
4,561
(10)
745
0
16,246
11,115
4,420
(10)
722
0
Rural
192,068
192,066
2
156,362
84,325
72,021
60,739
22,264
38.84%
30.91%
(1,054)
(1,021)
Special Risks
Oil & Gas Risks
Nuclear Risks
Satellites
139,990
127,430
12,560
0
139,536
126,976
12,560
0
38,609
38,609
0
0
136,911
124,352
12,560
0
126,663
113,880
12,783
0
10,629
10,852
(223)
0
4,592
4,592
0
0
(912)
(912)
(0)
0
3.35%
3.69%
0.00%
-
-8.58%
-8.41%
0.00%
-
1,909
2,309
(400)
0
1,849
2,237
(388)
0
777
777
0
777
0
777
332
Others
Claims Segment
17,529,475 17,518,739
Health
Individual Health
Group Health
6,617,609 6,617,610
2,451,661 2,451,661
4,165,949 4,165,949
Health Segment
Personal/Life
Credit Life
Educational
Random Events
Individual Life
Individual VGBL
Group Life
Group VGBL
Personal Accident
Tourism
710,309 15,766,067 2,934,192 12,837,580
1
0
1
6,715,217
2,433,410
4,281,806
13,912
3,469
10,443
6,701,305
2,429,941
4,271,364
27.87%
84.78%
2.64%
10.66%
56.72%
0.00%
0.00%
79.56%
332
42.76%
42.76%
42
41
9,347,354 8,528,318
59.29%
66.43% 2,396,773
2,322,622
5,612,066 5,777,263
2,081,183 2,146,794
3,530,883 3,630,468
83.57%
85.53%
82.46%
86.21%
88.35%
85.00%
277,499
28,631
248,868
246,604
25,443
221,160
6,617,609 6,617,610
1
6,715,217
13,912
6,701,305
5,612,066 5,777,263
83.57%
86.21%
277,499
246,604
12,252,943 12,250,777
227,535
226,324
13,972
13,712
188,182
184,727
463,286
462,591
7,041,906 7,041,239
4,152,810 4,165,876
1,165
1,165
164,088
155,144
359,808
1,716
302
23,527
696
742
320,117
0
12,707
6,134,800
156,404
13,329
177,444
358,418
1,045,017
4,228,315
334
155,539
102,834
154
119
950
2,532
369
97,827
0
883
6,031,907
156,251
13,210
176,493
355,879
1,044,648
4,130,436
334
154,656
3,549,345 3,589,698
31,658
42,298
7,704
8,781
71,753
72,277
266,066 262,540
829,144 829,262
2,270,653 2,301,213
108
108
72,259
73,220
57.86%
20.24%
57.80%
40.44%
74.23%
79.34%
53.70%
32.47%
46.46%
59.51% 1,262,872
27.07%
40,862
66.47%
3,170
40.95%
38,857
73.77%
92,411
79.38%
57,903
55.71% 1,009,529
32.47%
97
47.34%
20,043
1,223,801
39,598
3,072
37,655
89,552
56,111
978,296
94
19,423
940,325
739
7,699
258,255
673,632
62,151
0
0
2,675
59,476
956,518
736
7,605
299,468
648,709
18,526
727
243
8,450
9,106
937,969
8
7,362
290,999
639,599
259,454
(0)
2,637
74,248
182,570
27.41%
0.56%
35.20%
28.39%
26.89%
27.66%
-0.78%
35.82%
25.51%
28.54%
197,339
(37)
1,774
73,454
122,147
191,234
(35)
1,719
71,182
118,368
13,187,946 13,191,102
421,959
7,091,317
121,360
6,969,876
3,811,481 3,849,152
53.75%
55.23% 1,460,210
1,415,034
935,003
2
7,699
246,768
680,533
262,137
4
2,677
85,011
174,444
Total Pension Funds
Personal Segment
(Life+PA+Pension)
13,187,946 20,510,325
3,811,481 8,659,945
53.75%
1,460,210
37,335,030 37,327,451 1,132,270 29,572,601 3,069,464 26,508,760 18,770,902 18,154,733
63.47%
68.49% 4,134,483
7,319,223
4,810,793
421,959
7,091,317
121,360
6,969,876
180,820
Back
124.25%
271,595,854
3,984,259
Portfolio Mix 2004
R$ thousands
Motor
Total
Premium
Written
Insurance
Premium
Ceded
Gross Earned
Ceded
Co-insurance
Premium
Reinsurance
Green Card
Vehicles
10,528,151 10,530,878
150,210
150,295
19,652
20,319
4,741
4,741
1,150
1,150
8,259,500 8,261,765
9,583
9,583
2,083,315 2,083,026
73,353
1,429
1,298
0
0
57,546
0
13,080
Property
Glass
Homeowners
Theft/Robbery
Riots
Loss of Profits
Fidelity Bond
Engineering Risks
Miscellaneous Risks
3,559,398 3,562,969
53,646
60,993
0
0
0
0
594,242
590,406
50,993
50,888
107,620
107,473
-4
-4
894,840
894,156
13,406
13,347
0
0
140
140
161,106
163,293
624,466
627,577
12,106
12,106
0
0
1,046,838 1,042,596
359,265
4,527
0
0
8,877
754
763
0
20,268
338
0
0
20,391
19,781
267
0
283,298
1,569,243 1,569,243
21,689
21,689
0
0
0
1,595,978
1,569,119
26,859
758,536
384,673
373,864
56
0
56
Cargo
1,440,871 1,441,228
National Cargo
416,499
417,163
International Cargo
407,781
408,301
3
3
13,726
13,529
5,409
5,298
14,829
14,567
368,987
368,962
205,189
205,224
8,447
8,182
0
0
Financial Risks
Financial Guarantee
Rental Guarantee
Legal Guarantee
Guarantee
235,694
3,326
56,103
88,974
30,325
36,146
3,219
17,601
Credit
Internal Credit
Export Credit
Gross
Loss
Net
Loss
106,476
483
8,733
2,100
4
50,699
2,943
41,515
9,584,349
145,901
12,442
2,378
1,142
7,529,759
6,376
1,886,352
6,886,982 6,965,288
19,587
21,683
21,324
18,834
1,470
1,113
21
23
5,586,035 5,626,300
3,022
2,418
1,255,522 1,294,917
3,834,952 1,441,859
84,807
45,011
0
0
1
-7
562,427
14,889
49,869
8,956
103,568
18,053
-1
-5
863,395 235,678
13,765
10,403
0
0
46
(10)
179,421 113,529
650,934
76,568
13,260
11,146
0
0
1,313,462 907,649
2,049,138
43,186
0
7
538,715
40,191
84,800
5
608,683
3,059
0
56
47,034
554,650
1,847
0
126,903
1,380,046
158,226
0
-4
194,616
11,462
61,045
0
529,155
2,182
0
-10
54,725
166,587
-828
0
202,889
1,761
134
1,627
752,904
738,579
14,325
764,252
384,673
379,579
45,374
0
45,374
90,425
22,572
40,686
0
310
530
514
17,484
7,474
855
0
1,524,687
437,144
446,311
3
13,723
5,159
15,082
386,054
212,545
8,666
0
235,644
3,285
56,718
88,710
30,346
35,997
3,219
17,369
16,582
262
881
12,968
73
2,006
8
383
387,604
1,785
89,735
15,299
0
121,973
158,813
387,459
1,785
89,735
15,299
0
124,118
156,522
Liability
General Liability
408,562
76,134
294,597
37,831
Hull
Marine
Aviation
Aviation – Ticket
9,763,304
147,802
22,472
4,449
1,147
7,637,216
9,308
1,940,910
Net Earned
Premium
Gross Loss
Ratio
70.54%
13.25%
94.89%
33.05%
1.84%
73.14%
32.47%
64.69%
Net Loss
Ratio
Gross
Expenses
72.67% 1,879,594
14.86%
27,119
151.38%
5,304
46.79%
1,677
2.02%
282
74.72% 1,476,496
37.93%
1,309
68.65% 367,406
Net
Expenses
1,832,821
26,820
1,932
501
282
1,451,001
742
351,543
884,368
35.99%
55,334 186.57%
0
-4 -481.46%
197,631
34.60%
9,977
22.99%
48,937
58.94%
0
-8.61%
388,447
61.29%
0
15.85%
0
0.00%
-80 -21.73%
16,788
30.50%
141,471
25.59%
-586
-6.25%
0
26,454
15.45%
43.16%
128.13%
-60.03%
36.69%
24.82%
57.71%
0.92%
63.82%
-0.01%
0.00%
-14.55%
35.69%
25.51%
-31.69%
20.85%
571,103
25,025
0
0
145,586
4,189
32,462
0
203,854
1,948
0
33
20,313
80,090
202
0
57,401
494,705
22,087
0
2
140,513
3,798
31,072
1
183,102
402
0
36
14,667
71,474
158
0
27,395
606,842
588,518
18,324
605,326
588,518
16,808
38.02%
37.51%
68.22%
80.40%
79.68%
117.34%
3,334
538
2,796
3,082
521
2,560
334,350
0
334,350
156,348
12,324
144,024
135,334
0
135,334
20.46%
3.20%
37.94%
40.48%
-14.68%
40.48%
4,648
268
4,380
-4,106
268
-4,374
163,562
29,449
115,156
0
422
363
378
12,525
4,756
513
0
1,272,257
385,576
290,973
3
12,995
4,267
14,215
356,278
200,437
7,513
0
657,324
208,317
110,150
0
7,322
2,109
6,622
205,646
116,777
376
4
620,188
43.11%
48.75%
201,667
47.65%
52.30%
79,457
24.68%
27.31%
-3
10.13% -112.96%
7,372
53.36%
56.73%
2,145
40.87%
50.27%
6,687
43.91%
47.05%
206,714
53.27%
58.02%
115,609
54.94%
57.68%
515
4.34%
6.86%
24 3490.95% 22250.84%
290,263
79,970
77,895
1
2,933
843
3,401
78,003
46,216
1,002
0
260,091
75,624
56,911
1
2,876
822
3,302
74,977
44,752
826
0
248,272
4,235
56,932
98,960
28,040
37,809
3,239
19,055
189,703
2,788
49,172
79,219
512
36,073
2,896
19,044
46,507
1,498
8,716
8,568
27,465
-270
335
195
47,763
6,558
9,432
-495
11,857
2
3
20,408
16,919
860
1,935
895
8,234
-12
53
4,954
19.24%
154.83%
16.57%
-0.50%
42.28%
0.01%
0.08%
107.10%
36,38%
57.42%
22.20%
10.44%
29.98%
4.40%
15.67%
2539.08%
36,804
411
7,569
16,041
5,982
5,315
451
1,035
-18,869
-396
-6,362
-8,635
5,872
-5,528
-356
-3,464
2,290
0
0
0
0
0
2,290
347,584
1,784
124,889
15,402
0
83,055
122,455
66,898
1,730
5,447
12,750
0
38,921
8,052
278,395
55
119,442
2,652
0
44,133
112,113
163,907
-45
99,840
4,985
-5
9,392
49,740
137,769
-43
51,188
1,230
-5
17,753
67,646
47.16%
-2.50%
79.94%
32.37%
11,31%
40,62%
49.49%
-77.81%
42.86%
46.38%
40.23%
60.34%
39,128
266
15,377
0
0
9,418
14,066
22,839
-158
14,312
-4,055
0
-733
13,473
403,724
75,693
290,266
37,765
20,272
4,586
15,510
176
406,911
74,247
297,077
35,586
231,920
55,467
155,123
21,330
158,897
14,195
130,622
14,080
160,228
874
155,654
3,700
78,917
3,303
74,533
1,081
39.38%
1.18%
52.40%
10.40%
49.67%
23.27%
57.06%
7.68%
45,045
4,413
36,124
4,508
21,562
2,114
15,887
3,562
479,301
113,900
362,485
1,124
1,792
0
465,535
114,621
347,998
1,124
1,792
0
70,819
1,264
69,554
0
0
0
531,582
112,975
415,699
1,125
1,783
0
380,729
70,062
309,604
916
147
0
83,050
41,642
39,563
209
1,636
0
288,159
57,905
229,615
5
634
0
39,692
21,205
17,969
0
519
0
54.21%
51.25%
55.24%
0.45%
35.53%
-
47.79%
50.92%
45.42%
-0.06%
31.71%
-
27,380
13,445
13,221
78
636
0
19,940
12,217
7,055
33
636
0
Rural
278,807
278,803
4
239,981
105,115
135,102
152,698
54,563
63.63%
40.39%
31,624
7,728
Special Risks
Oil & Gas Risks
Nuclear Risks
Satellites
164,833
150,768
10,430
3,634
161,541
148,968
10,430
2,143
29,829
27,301
0
2,528
189,973
174,939
10,430
4,604
149,680
137,247
10,430
2,003
11,165
11,092
0
73
4,179
4,179
0
0
1,804
1,803
0
1
2.20%
2.39%
0.00%
0.00%
16.16%
16.25%
0.00%
1.38%
3,055
3,048
12
-5
2,888
2,986
-93
-5
982
982
0
982
0
982
2,300
2,511
234.20%
255.69%
49
49
662,895 19,448,460 2,883,076 14,707,096 10,506,775 9,542,679
54.02%
64.88% 2,932,028
2,642,730
84.20%
93.77%
79.57%
87.23%
97.12%
82.44%
304,409
18,601
285,808
87.23%
Home/Housing
Home - SFH
758,413
384,673
373,740
Others
Claims Segment
19,833,548 19,818,232
Health
Individual Health
Group Health
7,611,541 7,611,541
2,514,343 2,514,343
5,097,199 5,097,199
Health Segment
Personal/Life
Credit Life
Educational
Random Events
Individual Life
Individual VGBL
Group Life
Group VGBL
Personal Accident
Tourism
Total Pension Funds
Personal Segment
(Life+PA+Pension)
28
7,530,049
2,458,642
5,071,406
7,499
1,967
5,531
7,522,550
2,456,675
5,065,875
6,340,653 6,562,271
2,305,526 2,385,943
4,035,127 4,176,329
285,762
17,462
268,300
7,611,541 7,611,541
0
7,530,049
7,499
7,522,550
6,340,653 6,562,271
84.20%
304,409
285,762
16,625,868 16,579,222
526,582
511,485
15,693
15,450
265,888
254,959
453,775
453,090
10,229,093 10,207,147
4,668,025 4,670,812
359,145
359,131
107,668
107,149
455,987
21,781
280
44,437
686
25,145
362,978
14
665
8,969,544
450,599
15,684
293,991
343,679
2,808,330
4,937,338
84,315
35,609
113,511
1,190
194
1,192
4,140
140
106,015
0
640
5,647,166
427,629
15,226
248,363
188,163
189,301
4,469,817
74,364
34,303
2,871,378 2,982,816
92,699 116,721
8,844
9,182
92,554
95,333
41,936
76,182
63,857 108,119
2,505,508 2,516,333
0
690
65,981
60,256
32.01%
20.57%
56.39%
31.48%
12.20%
2.27%
50.75%
0.00%
185.30%
52.82% 1,449,223
27.29% 153,103
60.30%
4,577
38.38%
63,578
40.49%
90,405
57.11%
92,030
56.30% 1,036,869
0.93%
657
175.66%
8,003
1,378,716
144,173
4,480
56,620
90,238
92,030
982,610
657
7,907
1,087,398 1,092,624
0
-737
8,195
8,195
251,244
250,734
827,959
834,432
80,162
0
0
2,077
78,084
1,159,596
-733
8,029
247,579
904,721
14,011
-727
206
7,758
6,774
1,065,800
-6
7,835
237,392
820,579
299,337
-51
2,266
79,356
217,766
25.65%
-18.12%
29.67%
33.62%
23.40%
28.09%
816.31%
28.92%
33.43%
26.54%
536,148 10,129,140
127,522
6,712,965
3,168,835 3,282,153
240,219
-37
1,930
49,383
188,944
211,226
35
1,937
48,943
160,311
31.28%
48.89% 1,689,442
1,589,941
3,168,835 8,254,089
31.28%
122.96% 1,689,442
1,797,078
45,158,356 45,101,620 1,199,043 37,107,649 3,018,097 28,942,611 20,016,263 19,387,104
53.94%
66.98% 4,925,879
4,518,433
17,713,267 17,671,846
Back
0
0
0
7,782,576
17,713,267 25,454,422
297,457
133
2,382
83,227
211,715
4,971,936
536,148 10,129,140
127,522
6,712,965
207,137
Portfolio Mix 2005
R$ thousands
Motor
Total
Premium
Written
Insurance
Premium
Ceded
Gross Earned
Ceded
Co-insurance
Premium
Reinsurance
Green Card
Vehicles Popular insurances
Vehicles
12,133,291 12,124,970
157,972
157,653
36,992
37,078
4,154
4,154
1,772
1,772
0
0
9,671,253 9,665,163
9,154
9,154
2,251,994 2,249,996
Property
Glass
Homeowners
Theft/Robbery
Riots
Loss of Profits
Fidelity Bond
Engineering Risks
Miscellaneous Risks
4,520,021 4,505,843
36,484
37,408
0
0
0
0
680,809
681,080
59,017
58,597
121,671
121,650
0
0
964,730
964,010
17,299
17,310
0
0
0
0
220,424
216,888
1,354,496 1,355,233
7,605
7,605
0
0
1,057,486 1,046,062
331,510
1,822
0
0
5,991
1,156
659
0
19,884
459
0
0
20,239
21,428
81
0
259,792
1,949,421 1,949,420
3,384
3,384
0
0
0
1,952,959
1,949,421
3,538
Home/Housing
Home - SFH
405,811
0
405,811
9
0
9
Cargo
1,471,201 1,471,487
National Cargo
426,789
427,073
International Cargo
371,880
373,369
37,409
37,160
14,666
14,599
11,696
11,138
16,757
16,682
369,899
370,055
212,243
211,951
9,861
9,459
0
0
405,814
0
405,814
113,260 11,489,319
2,054
154,819
2,755
34,130
0
4,061
0
1,780
0
0
89,769 9,098,259
0
9,523
18,683 2,186,747
Net Earned
Premium
108,051 11,260,637
481
151,884
17,104
15,148
2,449
1,744
0
1,780
0
0
33,348 8,963,899
3,213
6,530
51,458 2,119,652
Gross
Loss
Net
Loss
Gross Loss
Ratio
Net Loss
Ratio
Gross
Expenses
Net
Expenses
7,701,033 7,756,512
32,556
33,387
30,694
18,279
1,908
1,617
18
18
0
0
6,153,312 6,182,296
1,963
1,369
1,480,582 1,519,544
67.03%
21.03%
89.93%
46.98%
1.03%
67.63%
20.61%
67.71%
2,306,040
27,338
0
0
632,203
46,645
94,608
0
691,523
3,260
0
0
56,309
615,422
1,670
0
137,062
1,357,651
32,354
0
0
213,061
14,969
57,001
0
536,279
3,351
0
0
95,447
163,684
5,644
0
235,862
904,879
8,286
0
0
216,960
12,066
50,287
0
406,358
260
0
-1
21,223
136,265
69
0
53,104
32.67%
64.13%
32.27%
26.02%
49.23%
55.85%
19.23%
0.00%
0.00%
40.45%
24.69%
77.45%
17.37%
39.24%
30.31%
34.32%
25.87%
53.15%
58.76%
7.98%
37.69%
22.14%
4.16%
38.74%
677,173
13,187
0
0
173,511
5,145
35,820
1,756
225,110
2,414
0
0
23,004
139,605
1,209
0
56,412
600,266
11,449
0
0
170,582
4,676
34,321
1,701
202,204
52
0
0
17,248
131,659
1,165
0
25,209
165
149
17
933,425
931,546
1,878
833,735
815,954
17,781
676,439
663,008
13,431
42.69%
41.86%
502.52%
72.47%
71.17%
715.04%
11,365
9,646
1,720
11,350
9,632
1,718
407,803
0
407,803
52,001
0
52,001
356,259
0
356,259
171,648
0
171,648
138,243
0
138,243
42.09%
42.09%
38.80%
38.80%
5,059
79
4,980
-4,698
79
-4,777
92,653
26,203
36,741
349
385
2,179
1,054
17,605
6,284
1,853
0
1,572,600
449,860
421,178
37,427
14,877
13,130
17,766
387,907
218,624
11,833
0
168,661
23,686
123,654
107
717
428
454
13,387
5,602
626
0
1,307,219
399,486
257,092
36,971
13,891
11,140
16,240
356,668
206,788
8,942
0
704,612
204,026
124,051
17,839
10,598
4,622
6,189
204,857
132,191
244
-6
682,781
205,255
99,169
17,834
10,790
5,119
6,657
204,227
133,497
218
14
44.81%
45.35%
29.45%
47.66%
71.24%
35.21%
34.84%
52.81%
60.46%
2.06%
-
52.23%
51.38%
38.57%
48.24%
77.68%
45.95%
40.99%
57.26%
64.56%
2.44%
-
305,960
84,555
71,500
12,173
3,583
972
5,337
79,024
47,306
1,510
0
273,303
79,355
48,681
12,155
3,492
905
5,129
76,129
46,259
1,198
0
6,050
-3,275
-8,933
7,084
11,681
4
-207
-305
37.91%
160.71%
44.59%
41.43%
39.39%
-0.01%
0.00%
189.49%
11.55%
-364.81%
-99.87%
76.81%
36.73%
0.82%
-25.00%
-143.80%
29,908
527
10,308
6,872
8,306
2,754
1,088
53
-12,567
12
-7,760
-8,618
8,173
-3,152
-1,255
34
271,863
67.51%
79.13%
1,341
24.37%
125.83%
30 95789.32% 362958.58%
-105 -17.75%
-30.37%
2
77,516
61.78%
74.03%
193,081
74.52%
81.32%
43,674
813
0
0
0
14,396
28,465
24,240
-5,829
0
-135
0
4,378
25,825
4,155,311 1,650,271
50,446
18,470
0
0
0
0
660,300
17,553
57,528
10,774
115,776
21,044
0
0
960,164 263,735
17,432
15,218
1,112
0
28,235
0
235,984 172,963
663,058
76,999
7,288
6,179
0
0
1,357,989 1,047,337
68.88% 2,175,159
21.98%
28,614
120.67%
10,247
92.69%
1,521
1.,01%
516
0
68.97% 1,727,528
2.97%
1,317
71.69% 405,415
2,121,344
28,188
2,275
230
516
0
1,702,912
713
386,510
Financial Risks
Financial Guarantee
Rental Guarantee
Legal Guarantee
Guarantee
206,468
2,537
72,237
62,165
38,826
21,245
9,267
190
202,805
2,724
72,513
58,740
38,823
20,678
9,124
203
6,524
35
1,081
4,417
45
772
175
0
202,174
2,932
73,549
62,378
32,370
21,562
9,096
288
151,367
2,338
65,984
52,332
564
21,959
8,108
82
52,371
898
8,945
9,223
31,801
466
826
212
76,642
4,711
32,793
25,843
12,752
-2
0
545
Credit
Internal Credit
Export Credit
480,633
22,035
0
481
0
173,996
284,121
481,177
22,035
0
481
0
179,233
279,428
4,693
0
0
0
0
0
4,693
432,984
20,212
0
636
0
154,019
258,117
87,127
19,286
0
290
0
50,857
16,695
343,562
1,065
0
347
0
104,711
237,438
292,311
4,926
8
-113
0
95,150
192,339
Liability
General Liability
452,158
84,869
335,038
32,251
452,946
84,995
335,695
32,256
18,089
5,368
12,518
203
461,254
90,821
338,617
31,816
257,745
61,446
180,112
16,186
193,808
20,874
155,086
17,848
118,729
-603
114,602
4,730
72,320
5,229
63,381
3,711
25.74%
-0.66%
33.84%
14.87%
37.32%
25.05%
40.87%
20.79%
51,495
7,112
39,355
5,028
28,441
2,341
21,978
4,123
Hull
Marine
Aviation
Aviation – Ticket
480,999
123,188
352,370
3,708
1,733
0
474,317
123,126
345,040
4,419
1,733
0
45,764
1,226
44,538
0
0
0
578,157
125,189
447,076
4,156
1,735
0
388,584
78,654
305,725
4,058
147
0
94,421
47,067
45,668
97
1,589
0
194,562
55,942
137,915
241
464
0
46,836
24,276
22,015
31
515
0
33.65%
44.69%
30.85%
5.79%
26.72%
-
49.60%
51.58%
48.21%
32.07%
32.39%
-
26,646
13,073
13,022
121
430
0
22,344
12,337
9,560
18
430
0
Rural
269,443
269,436
7
260,629
109,305
161,714
188,081
86,595
72.16%
53.55%
41,995
20,247
Special Risks
Oil & Gas Risks
Nuclear Risks
Satellites
209,830
197,717
8,510
3,603
210,518
198,854
8,510
3,154
3,276
1,810
0
1,466
212,281
199,148
8,510
4,623
232,797
221,336
8,439
3,022
9,393
9,186
71
137
10,877
10,877
0
0
1,735
1,735
0
0
5.12%
5.46%
0.00%
0.00%
18.47%
18.89%
0.05%
-0.05%
3,830
3,822
1
8
3,191
3,357
-174
8
13
13
0
13
0
13
1,770
2,106 14050.82% 16715.74%
-1
-1
62.56% 3,372,262
3,087,460
Others
Claims Segment
22,582,677 22,552,127
Health
Individual Health
Group Health
8,430,067 8,430,067
2,592,297 2,592,297
5,837,769 5,837,769
Health Segment
Personal/Life
Credit Life
Educational
Random Events
Individual Life
Individual VGBL
Group Life
Group VGBL
Personal Accident
Tourism
8,430,067 8,430,067
18,672,820 18,700,139
1,002,050
987,013
22,091
21,940
302,910
304,366
546,497
546,421
11,233,091 11,256,673
5,064,454 5,081,397
501,729
502,332
-2
-2
1,306,281 1,304,491
299
287
9,569
9,569
254,860
255,040
1,041,553 1,039,595
615,785 21,725,484 3,206,075 17,018,861 11,651,650 10,646,359
0
0
0
7,941,857
2,160,972
5,780,885
0
7,941,857
3,393
467,549 12,045,820
27,314
815,647
219
22,085
46,815
342,384
76
478,890
18,066 4,808,638
374,375 5,514,559
684
63,620
0
-2
114,877
1,367
912
1,289
4,949
156
106,205
0
0
1,348,411
299
9,820
238,917
1,099,375
18,988
88
250
7,909
10,742
1,239,685
199
9,630
229,636
1,000,221
550,403 13,394,230
133,865
550,403 13,394,230
133,865
82,854
12
0
1,458
81,384
3,393
559
2,834
7,912,489
2,153,179
5,759,310
53.63%
6,892,539 7,119,719
2,351,859 2,431,185
4,540,679 4,688,533
86.79%
108.83%
78.55%
7,912,489
6,892,539 7,119,719
86.79%
6,262,024
785,344
21,003
293,482
266,834
-38,889
4,905,980
28,273
-2
3,310,001 3,533,900
27.48%
185,572 203,587
22.75%
15,563
16,260
70.47%
108,884 115,673
31.80%
60,332
66,909
12.60%
63,786 158,907
1.33%
2,875,802 2,972,585
52.15%
0
10
0.00%
63
-31 -2594.59%
336,908
-42
2,825
70,033
264,091
346,506
-32
2,985
69,580
273,974
24.99%
-13.99%
28.77%
29.31%
24.02%
7,501,709
3,646,909 3,880,407
27.23%
7,501,709
89.98%
112.91%
81.41%
257,911
14,395
243,516
89.98%
257,911
347,227
56.43% 1,758,567
25.92% 353,355
77.42%
6,395
39.41%
77,388
25.08% 100,068
-408.62% 103,214
60.59% 1,115,198
0.03%
2,950
1256.84%
0
1,694,740
342,101
6,322
69,185
100,068
103,214
1,070,900
2,950
0
27.95%
-16.27%
30.99%
30.30%
27.39%
347,227
20,017
327,211
252,118
26
2,308
48,710
201,074
229,483
26
2,308
48,476
178,674
51.73% 2,010,685
1,924,223
19,979,101 20,004,630
Total Pension Funds
Personal Segment
(Life+PA+Pension)
19,979,101 27,298,486
3,646,909 10,104,065
27.23%
51.73% 2,010,685
2,155,384
50,991,844 50,986,823 1,166,188 43,061,572 3,343,334 32,433,059 22,191,098 21,646,484
51.53%
66.74% 5,640,859
5,358,911
7,293,857
6,223,659
Back
29
231,160
Motor Insurance
Motor insurance in 2005 remained as one of the main portfolios of the insurance industry. It presented a significant
increase of the amount of insured vehicles, going from
8,515,793 in 2004 to 10,093,004 in 2005. Nevertheless, in
despite of its large representativeness in relation to the other
portfolios, motor insurance has great possibilities for expansion, because only about 30% of the national fleet of
vehicles in Brazil is covered by motor insurance policies.
Coverage: Physical Damage + Facultative Motor Liability – 2005
R$ thousand
Tariff Category
Domestic Passenger autos
Nº of Vehicles
Insurance Premiums
Nº of Losses
Losses Amount
7,821,890
7,358,2
1,745,660
5,921,7
Imported Passenger autos
425,016
679,7
122,184
520,7
Pick-ups (all)
944,710
1,687,5
203,402
978,2
Cargo Vehicles (all)
569,640
1,571,8
79,893
832,7
Motorcycles (all)
81,995
64,6
8,165
43,3
Buses (all)
78,726
131,5
10,411
66,8
Utility Vehicles (all)
75,931
92,4
11,844
66,6
Others
95,097
329,4
10,232
164,2
10,093,004
11,915,2
2,191,791
Totals
8,594,2
Source: SUSEP (AutoSeg)
Coverage: Physical Damage + Facultative Motor Liability – 2005
Consolidated Figures per State
R$ thousand
UF
Nº of Vehicles
AC
AL
AM
AP
BA
CE
DF
ES
GO
MA
MG
MS
MT
PA
PB
PE
PI
PR
RJ
RN
RO
RR
RS
SC
SE
SP
TO
Brazil
6,082
57,132
36,546
5,598
317,558
140,604
267,658
145,707
222,385
44,916
847,874
91,291
98,471
71,051
65,081
235,063
30,071
721,676
981,155
73,922
27,296
3,132
728,544
456,131
51,994
4,345,034
21,031
10,093,004
Insurance Premiums
9,2
66,2
50,4
7,9
413,6
147,5
263,4
187,9
293,5
65,1
1,004,5
128,2
165,5
119,5
67,1
260,2
36,1
834,0
1,314,9
78,5
43,9
4,8
748,8
503,6
63,6
5,003,4
33,9
11,915,2
Nº of Losses
1,123
8,606
7,269
718
57,578
28,562
57,733
26,353
41,047
7,630
113,567
12,856
13,593
13,580
8,505
33,047
6,912
72,195
203,840
14,833
3.882
442
77.242
50.954
7,787
1,318,645
3,292
2,191,791
Losses Amount
3,6
48,3
30,4
2,9
241,9
91,6
162,7
135,5
190,3
36,4
696,2
75,5
94,5
67,8
36,2
160,8
24,0
559,0
1,139,5
54,3
20,7
2,1
566,5
327,9
43,5
3,761,5
20,5
8,594,2
30
Back
Losses
Physical Damage Coverage
2005
Type of Loss
Total Amount R$ Million
Number of Losses
Average Cost R$
Robbery and Thelf
3,807,4
146,575
Partial Loss
1,732,0
466,144
3,715,6
Total Loss
1,376,8
51,732
26,614,2
31,6
2,020
15,628,2
269,7
1,069,649
252,1
Fire
Other
Liability – Body Injury
25,976,1
62,5
12,384
5,050,2
Liability – Material Damage
1,314,1
443,287
2,964,5
Totals
8,594,2
2,191,791
3,921,1
Health Insurance
According to the National Agency of Supplementary Health
(ANS), insurance health was responsible for 4.7 millions
of assureds in 2005, a number corresponding to 11.4% of
the Brazilian market share, totalizing 42 millions consumers. That is still a very modest number, considering all
the Brazilian population estimated by the Brazilian Institute of Geography and Statistics (IBGE) as 181 millions.
In 2004, health insurance industry sustained a strong contraction concerning to the number of assureds, but kept
itself on this level during 2005.
The growth of premium income of 5.2% was only achieved
by an increase in the number of group health plans in the
portfolio mix of the insurance companies. In 2004, the
percentage share of individual plans in the portfolio mix
of the insurance companies was 10.2%, whereas the
group plans represented 89.8%. Group plans are negotiated freely between employers and insurance companies,
and this, in general, led employers to recognize the costs
increase in order to adjust the premium rates.
In 2005, the growth in net losses (8.5%) surpassed that in
earned premiums, increasing therefore, the loss ratio from
87.2% in 2004 to 89.9% in 2005. By removing the effect
of technical reserves that affect the earned premiums and
net losses volume, the 81.8% pure net loss ratio is obtained, which reflects the share of insurance premium allocated for the effective payment of medical expenses.
Different from the troubled year of 2004, that suffered with
continued stoppages and boycotts from medical profession-
als, in 2005 the insurance industry restored the good relationship with the medical class, intensifying the dialogue with
the principal class entities and adjusting the medical fees.
By the end of 2004, some insurance companies, National
Agency of Supplementary Health (ANS) and Secretariat of
Economic Rights/Ministry of Justice (SDE/MJ) entered into
Terms of Engagement with the purpose of solving the litigations arisen between the insurance companies and
assureds from the definition of criteria for applicating the
adjustments of the collective contracts prior to Law no.
9.656/98. Nevertheless, the application of the Terms of
Engagement was prejudiced because of the series of
preliminary orders occurred during 2005, preventing for
the adoption of agreed adjustments indexes, creating instability and increasing uncertainty over the sector.
Considering that 2005 was a period distingueshed by great
instability of the rules, the consolidated economical-financial return of the health insurers was above the previous year.
In 2005, health insurance had R$ 39 million net profit against
R$ 69 million net loss in 2004, an improvement of 161%.
In the other hand, the medical costs remained to grow
up, and items related to materials and medicines, both of
them intensive in technology and with no clinical procedures capable to simplify their usage, were the principal
cause of the increase experimented in the last years. The
materials cost represented 13.4% in 2000, and in 2005
reached almost the double, 23.4%, an increase of ten
percentage points.
Back
31
Regarding to the medical events or losses of the specialized insurance companies, in 2005 the numbers were the
following: 23 millions in medical appointments, 62 millions in general exams, 613 thousand in internments and
22 millions in other procedures, representing 21.4%, 58%,
0.6% and 20.1%, respectively, of the total number of effected procedures. The cover with respect to medical care
expenses amounted to R$ 6.9 billion and was apportioned
according to the following: medical appointments
(R$892.9 million), internments (R$ 3.492.7 million), general exams (R$ 1.514.2 million) and other procedures
(R$993.8 million).
In economical-financial terms, such segment presented
a decrease trend in debit to asset, fixed asset and leverage rates, as well as technical reserves increase, showing a larger adequacy of the capital structure to the uncertainties in the regulatory field, granting the solvency of its
operations. However, the trend of health insurance continues to increase the loss ratio due to the both, costs
stress and adjustment regulation in individual plans. The
increase is also due to the larger grade of technical reserves not undertaken to grant the agreements fulfilment,
granting the medical care to their assureds. It is important to stress that the administrative efficiency also presented an improvement trend, as well as the liquidity and
return on equity rates.
The sustainable growth of health insurance, which was
achieved through its introduction into new markets, depends on regulatory reforms to give flexibility to some
basic rules and to permit adjustments in pricing that are
more suitable to the market reality, as the index-linked
adjustment to the VCMH (Variation of Medical/Hospital
Costs) index factor. Thus, the discussion on the processes
of creation of sectorial costs is still necessary, and its
respective impact on the production chain, as well as the
establishing of controlling mechanisms on materials and
medicines, and also the definition of public policies with
respect to new technologies.
Health Insurance
1999
Lines
Premium
R$ million
2000
%
Premium
2001
%
Premium
2002
%
Premium
2003
%
Premium
2004
%
Premium
2005
%
Premium
Increase
%
2005/1999
Individual
2,373
48%
2,559
45%
2,547
42%
2,531
40%
2,452
37%
2,514
33%
2,592
31%
Group
2,550
52%
3,135
55%
3,517
58%
3,796
60%
4,166
63%
5,097
67%
5,838
69% 128.9%
Totals
4,924
100%
5,694
100%
6,063
100%
6,327
100%
6,618
100%
7,612
100%
8,430
100%
9.2%
71.2%
Source: ANS
5,097
3,517
3,796
4,166
3,135
2,373
2,559
2,547
2,531
2,452
2,514
2,592
1999
2000
2001
2002
2003
2004
2005
2,550
Group Health
32
5,838
Back
Individual Health
In 2005, total premium income for life and personal
accident insurances represented 39.20% of the insur-
ance industry revenue, with premiums amounting to
R$ 20 billion.
Insurance
Insurance – Total Premium
R$ thousand
Groups
Total Premium
Motor
12,133
23.8%
Property
4,520
8.9%
Health
8,430
16.5%
19,979
39.2%
5,929
11.6%
50,992
100%
Life & PA
Others
Total
Others
11.6%
% Share
Motor
23.8%
Life & PA
39.2%
Property
8.9%
Health
16.5%
Sources: ANS and SUSEP
The premiums paid to VGBL plans were fundamental for
such result, representing 59% of the total premium income of life and personal accident insurances.
Although the premiums for VGBL plans have presented
an increase less than the 50% in 2004, the total premiums during 2005 amounted to R$ 12 billion.
The decreases presented in some months during 2005, in comparison with the months in the previous year, were a reflex of the
uncertainties caused by the new Income Tax’s Legislation (Law no.
11.053, dated December 29th, 2004), when then the insureds had
the chance to opt by the taxation regime based on rates that
decrease in function of the term of permanence of the resources in
the plan, or by the regime of progressive rates, until then in force.
Progressive Rates Regime
Decreasing Rates Regime
Calculation Basis (R$)
Up to 1.164,00
From 1.161,01 to 2.326,00
Above 2.326,00
Rates
Income Tax to be
deducted (R$)
Exempt
0
15%
174,60
27.50%
465,35
Accumulation Term*
Rates
Up to 2 years
From 2 to 4 years
From 4 to 6 years
From 6 to 8 years
From 8 to 10 years
35%
30%
25%
20%
15%
Above 10 years
10%
(*) For each payment, the respective “Accumulation Term” is counted
Notwithstanding the advance such law represented about
the fiscal terms, it took some good time for the insurer to
understand the new rules, even because the norm that
regulated the calculation of the “Accumulation Term” was
only issued during March (Joined Regulation Instruction
SRF / SPC / SUSEP no. 524, dated March 11th, 2005).
An aspect of fundamental importance for the collecting recovery – occurred in an effective form only from October on
– it was the society having attested the Government compromise with respect to the rules stability, preserving the
regime in effect until then and leaving to the insured’s option, the choice of the one that better deemed adequate to
his necessities. The sole amendment in the regime in force
was the redemption value taxation method, which became
to be subjected to the incidence of the Income Tax at the
Source at the 15% rate, as an anticipation of the due tax as
per the Individual Person Adjustments Annual Declaration.
Back
33
Amongst the life and personal accident insurances, the credit
life insurance presented the larger growth, with total premium income 90% above the 2004 amount. The total premium income surpassed R$ 1 billion, as a reflex of the expansion of the credit given to the individual persons in 2005.
Regarding to the VG/APC result, it is important to remind
the dispositions described at the SUSEP Circular no. 295,
dated June 21th, 2005. The insurance branches follow, since
January, 2003, the classifications presented in the table
of such Circular, in such a way that the policies issued
and the reported claims from that date on, became to be
accounted through the use of the new classification. However, the notices of claims regarding to the run-off insurances, which policies have been issued before January,
2003, were accounted in accordance with the old classification until December, 2004 as well as the endorsements
to the policies were issued before that date.
The 41% increase in the total premium income of the educational insurance also deserves a certain emphasis. Although the figure is just a little expressive, R$ 22 million in
2005, it can already be considered as a result of the biggest
society’s realization regarding to this coverage’s importance.
From January 2005, all the operations became to be accounted through the use of the new classification, which
does not foresee the VG/APC branch. The figures related
to the VG and to APC branches, became to be informed
through a segregated way, in the respective branches.
Notwithstanding the reduction in the growth rhythm of the
premium income and the increment in the redemption’s volume, the high interest rates practiced in 2005 enabled the
savings amounts accumulated in the VGBL plans (Mathematical Provision of Unsettled Benefits) presented a 54%
increase, reaching R$ 28.7 billion in December, 2005.
Total
2004
Lines
(%) Share
Premium
PCHV
2005
Premium
(%) Share
(%) Increase
-
0.00%
299
0.00%
8,195
0.05%
9,569
0.05%
16.77%
Random Events
265,888
1.50%
302,910
1.52%
13.92%
Individual Life
453,775
2.56%
546,497
2.74%
20.43%
Tourism
Group Life
-
4,668,026
26.35%
5,064,454
25.35%
8.49%
Group Personal Accident
827,959
4.67%
1,041,553
5.21%
25.80%
Individual Personal Accident
251,232
1.42%
254,860
1.28%
1.44%
15,693
0.09%
22,091
0.11%
40.77%
Educational Insurance
Individual VGBL
10,229,093
57.75%
11,233,091
56.22%
9.82%
Group VGBL
359,145
2.03%
501,729
2.51%
39.70%
526,582
2.97%
1.002,050
5.02%
90.29%
Personnal Accidents
107,668
0.61%
(2)
0.00%
-100.00%
17,713,256
100.00%
19,979,101
100.00%
Total
12.79%
Source: SUSEP
Group Life
25%
Personal
2005
Lines
Premium
(%) Share
11,734,820
59%
Group Life
5,064,454
25%
Personal Accident
1,296,413
6%
1,002,050
5%
Individual Life
546,497
3%
Others
334,867
2%
19,979,101
100%
VGBL
Total
Source: SUSEP
34
Back
Accident
6%
VGBL
59%
Credit Life
Insurance
5%
Individual Life
3%
Others
2%
VGBL
Premiums
Period
R$ thousand
2004
2005
%
January
881,758
613,030
-30%
February
672,481
470,701
-30%
March
792,788
695,715
-12%
April
731,586
700,906
-4%
May
684,282
652,100
-5%
June
735,338
863,866
17%
July
889,042
872,462
-2%
August
852,539
937,799
10%
September
862,602
798,197
-7%
October
806,762
1,175,696
46%
November
860,768
1,175,696
37%
December
1,790,470
2,745,675
53%
10,560,415
11,701,843
Total
11%
Source: SUSEP
3.000.000
2.500.000
2.000.000
1.500.000
1.000.000
500.000
0
Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec
2004
2005
Back
35
Premium Income
By State of the Federation and Insurance Line – 2005
Brazil
São Paulo
22.07%
VGBL 1º
18.96%
Motor 2º
Group Health 3º
Individual Health 5º
Facultative Motor Liability 6º
DPVAT Convention 7º
16.21%
Motor 2º
2º
Group Health 3º
3º
11.45%
Group Life 4º
21.76%
VGBL 1º
1º
12.68%
Group Life 4º
4º
9.97%
10.64%
5º
5.08%
5.90%
Miscellaneous Risks 6º
6º
4.41%
3.96%
7º
3.82%
3.49%
2.66%
8º
2.45%
Named and Operational Risks 9º
2.05%
Group Personal Accident 9º
9º
2.29%
2.04%
10º
2.18%
Rio de Janeiro
Rio Grande do Sul
22.72%
VGBL 1º
1º
Group Health 2º
2º
21.69%
Motor 3º
3º
5º
6º
2.78%
9º
Aviation10º
10º
10.26%
8.72%
6.22%
6º
3.48%
Oil & Gas 8º
8º
20.55%
5º
5.50%
2.93%
VGBL 2º
2º
Credit Life Insurance 4º
4º
6.66%
7º
20.86%
Group Life 3º
3º
16.55%
Group Life 4º
4º
Motor 1º
1º
7º
2.05%
1.51%
Paraná
5.93%
3.51%
Group Health 8º
8º
3.07%
Comprehensive Business Coverage 9º
9º
2.97%
Rural Property and Goods on Lien - 10º
Private Financial Institutions 10º
2.40%
Minas Gerais
26.04%
Motor 1º
1º
VGBL 2º
2º
24.23%
Group Life 3º
3º
9.96%
4º
7.78%
5º
6.34%
28.75%
VGBL 1º
1º
Motor 2º
2º
23.24%
Group Life 3º
3º
4º
10.33%
6.72%
5º
5.78%
5.31%
6º
3.40%
Group Health 6º
6º
7º
3.18%
7º
2.20%
Group Health 8º
8º
3.08%
8º
1.73%
36
Homeowners 9º
9º
1.92%
9º
1.49%
10º
1.30%
10º
1.47%
Back
Distrito Federal
Bahia
Group Life 1º
1º
15.60%
VGBL 1º
1º
Motor 2º
2º
15.48%
Motor 2º
2º
Group Health 3º
3º
7.76%
DomesticCredit–CommercialRisks 7º
7º
6.22%
Home - Outside the SFH 8º
8º
9º
DPVAT Convention10º
10º
Group Life 5º
5º
9.30%
VGBL 6º
6º
5.70%
3.47%
2.71%
Santa Catarina
28.83%
VGBL 2º
2º
21.74%
3º
9.80%
Group Life 4º
4º
9.15%
5º
7º
14.30%
5.63%
6º
4.16%
7º
3.57%
8º
1.75%
Homeowners 9º
9º
1.19%
10º
1.16%
Pernambuco
Motor 1º
1º
Group Health 6º
6º
16.99%
Group Health 4º
4º
10.02%
Domestic Credit – Personal Risks 5º
5º
21.11%
3º
11.30%
4º
24.10%
7.80%
6.27%
3.21%
21.07%
Motor 1º
1º
VGBL 2º
2º
19.26%
3º
17.76%
Group Health 4º
4º
11.02%
Group Life 5º
5º
6.71%
6º
4.90%
7º
4.52%
Homeowners 8º
8º
1.96%
8º
1.92%
9º
1.38%
Liability - Intermodal Transit Carrier 9º
9º
1.88%
Group Personal Accident10º
10º
1.11%
10º
1.76%
Back
37
Open Pension Funds
In 2005, the total of contributions to open pension funds decreased 9% in relation to 2004, amounting to R$ 7.5 billion.
Such income is also explained by the decrease of contributions for PGBL funds, which represented, in 2005, 55%
of the total revenue.
The bad performance of such funds is due, in part, to the
uncertainties created by the new tax legislation. In the 2nd
quarter, the contributions started to present figures larger
than those of the same period in 2004, but not enough to
prevent the1% decrease experimented in 2005.
ment of grupal plans, restrict the expansion of individual
plans to the population layers with higher revenue,
declarants of the complete form of the annual adjustment
of income tax. Furthermore, the possibilility of deduction
and tax granting of the contributions in the calendar year
is limited to a 12% of the gross revenue.
Despite of the bad income performance, the high interest
rates practiced in the market permitted the total reserves
in December, 2005 reached R$ 48 billion, with a 13% expansion in relation to December, 2004.
PGBL performance is also explained for its specifical taxation features that, if do not affect so much the develop-
The R$ 21 billion of this total amount corresponded to
savings accumulated in PGBL, with 30% increase in relation to December, 2004.
Total of Contributions
Total of Contributions
2004-2005
2005
R$ thousand
R$ thousand
Período
2004
2005
%
January
823,912
744,277
-9.67%
February
614,815
538,500
-12.41%
March
633,050
583,865
April
569,737
May
776,259
June
July
Period
Total
Others
Plans
PGBL
% PGBL
January
744,277
408,875
335,401
45%
February
538,500
256,209
282,291
52%
-7.77%
March
583,865
292,028
291,837
50%
545,802
-4.20%
April
545,802
257,797
288,005
53%
607,504
-21.74%
May
607,504
314,959
292,545
48%
709,925
601,181
-15.32%
June
601,181
315,221
285,961
48%
663,865
585,029
-11.88%
July
585,029
272,351
312,678
53%
August
695,227
577,518
-16.93%
August
577,518
262,755
314,764
55%
September
507,799
558,677
10.02%
September
558,677
223,408
335,269
60%
October
541,875
514,953
-4.97%
October
514,953
195,840
319,113
62%
November
563,956
561,957
-0.53%
November
561,957
176,612
385,346
69%
December
1,122,854
1,063,873
-5.25%
December
1,063,873
390,148
673,724
63%
Total
8,223,274
7,483,137
-9.00%
Total
7,483,137
3,366,202
4,116,935
55%
Source: SUSEP
38
Back
Source: SUSEP
PGBL
Contributions
Period
R$ thousand
2004
2005
January
440,227
335,401
-23.81%
February
338,595
282,291
-16.63%
March
326,164
291,837
-10.52%
April
279,830
288,005
2.92%
May
356,168
292,545
-17.86%
June
302,715
285,961
-5.53%
500,000
July
309,397
312,678
1.06%
400,000
August
299,263
314,764
5.18%
September
276,725
335,269
21.16%
100,000
October
294,444
319,113
8.38%
0
November
299,185
385,346
28.80%
December
Total
%
636,592
673,724
5.83%
4,159,304
4,116,935
-1.02%
PGBL
Contributions
800,000
700,000
600,000
300,000
200,000
JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC
2004
2005
Source: SUSEP
Pension
Reserves
Period
R$ thousand
2004
2005
%
January
35,422,777
43,105,335
21.69%
February
35,958,021
43,555,671
21.13%
March
36,519,390
44,012,904
20.52%
April
37,029,560
44,508,459
20.20%
60,000,000
May
37,730,341
44,902,987
19.01%
50,000,000
June
38,493,098
45,258,648
17.58%
40,000,000
July
39,233,016
45,666,289
16.40%
30,000,000
August
39,955,109
46,055,581
15.27%
20,000,000
September
40,478,344
46,454,920
14.76%
10,000,000
October
40,905,945
46,761,434
14.31%
0
November
41,446,238
47,278,529
14.07%
December
42,589,239
48,228,840
13.24%
Pension
Reserves
JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC
2004
2005
Source: SUSEP
Open Pension Funds
R$ thousand
Period
Total
Reserves
PGBL PMBaC
December/2004
42,589,239
16,512,954
39%
December/2005
48,228,840
21,389,791
44%
13%
30%
%
%
PGBL
Source: SUSEP
Back
39
Geographic Distribution - % Share
Open Pension Funds per State of the Federation
State of the Federation
2005
2004
2003
2002
1º
São Paulo
48.97%
48.26%
51.08%
51.02%
55.91%
2º
Rio de Janeiro
14.25%
14.85%
13.92%
13.54%
11.60%
3º
Minas Gerais
8.20%
7.25%
7.35%
7.33%
6.14%
4º
Rio Grande do Sul
5.40%
5.32%
5.16%
5.10%
4.24%
5º
Paraná
4.34%
4.61%
4.47%
4.66%
6.39%
6º
Bahia
2.76%
2.89%
2.90%
2.97%
2.62%
7º
Santa Catarina
2.32%
2.64%
2.46%
2.65%
2.07%
8º
Distrito Federal
1.85%
1.73%
1.50%
1.44%
1.26%
9º
Pernambuco
1.73%
1.67%
1.56%
1.61%
1.50%
10º Ceará
1.28%
1.29%
1.24%
1.29%
1.18%
11º Goiás
1.24%
1.43%
1.26%
1.31%
1.17%
12º Espírito Santo
1.02%
1.19%
1.08%
1.00%
0.86%
13º Mato Grosso
0.97%
1.10%
0.94%
1.00%
0.76%
14º Pará
0.96%
0.99%
0.91%
1.02%
1.01%
15º Mato Grosso do Sul
0.84%
0.89%
0.82%
0.88%
0.78%
16º Amazonas
0.72%
0.74%
0.54%
0.44%
0.24%
17º Paraíba
0.61%
0.65%
0.61%
0.69%
0.55%
18º Maranhão
0.54%
0.60%
0.50%
0.48%
0.42%
19º Rio Grande do Norte
0.54%
0.46%
0.44%
0.41%
0.30%
20º Sergipe
0.42%
0.48%
0.39%
0.39%
0.40%
21º Alagoas
0.29%
0.26%
0.25%
0.24%
0.22%
22º Piauí
0.25%
0.23%
0.21%
0.20%
0.15%
23º Rondônia
0.19%
0.16%
0.14%
0.12%
0.09%
24º Tocantins
0.11%
0.09%
0.09%
0.07%
0.05%
25º Amapá
0.09%
0.08%
0.07%
0.06%
0.04%
26º Acre
0.07%
0.06%
0.06%
0.05%
0.04%
27º Roraima
Contribution
2001
0.06%
0.05%
0.05%
0.04%
0.03%
7,706,957
8,236,238
7,784,518
7,146,211
7,525,028
Source: SUSEP
40
Back
Capitalization
The net income arising from capitalization securities in
2005 amounted to R$ 6.8 billion, a 4% increase in relation
to the R$ 6.6 billion net income in 2004.
written remained almost the same, decreasing 1.60% from
2004 to 2005. The average value for monthly payment capitalization securities remained around R$ 30.00 in 2005.
In 2005, were underwritten 668.9 millions in capitalization
securities; a 38.3% increase in relation to 483.5 millions
underwritten in 2004. Such increase, in comparison with
the resulted income, shows a larger introduction of the
capitalization into the layers with lower revenue in 2005:
i.e., the per unity value decreased from R$ 13.70, in 2004
to R$ 10.29, in 2005.
The amount for surrended capitalization securites represented 77.6% of the revenue in 2005; i.e., 1.0 percentage
point above the surrended amount in 2004, 76.6%.
The number of single payment capitalization securities underwritten in 2005 increased 61.3% in relation to 2004, jumping from 308.3 million to 496.7 million, whereas the number of monthly payment capitalization securities under-
The amounts paid to lottery draws reached in 2005,
R$ 301.6 million, a 0.3% increase in comparison with 2004.
The average single value of the lottery draws was around
R$ 2,000.00.
Technical reserves in 2005 of R$ 10.5 billion, increased
15.5% relating to 2004 reserves, of R$ 9.1 billion. The
increase was larger than that of the revenue, 4.0%.
Capitalization – Type and Number of Contracts and Anual Revenues
2005
2004
2003
2002
2001
2000
1999
Numbers of Contracts
496,698,750
308,279,719
169,010,430
136,251,675
149,354,256
126,325,467
174,116,344
Amount (R$ 1,000)
1,844,588
1,749,804
1,592,059
1,544,181
1,414,757
1,290,929
1,238,473
15,697,873
15,541,917
23,525,457
20,073,896
6,811,036
6,581,359
6,015,068
Amount (R$ 1,000)
316,126
352,425
316,587
285,893
209,445
181,548
181,933
156,568,202
159,723,422
126,151,952
91,920,303
87,395,900
87,936,087
70,959,064
Amount (R$ 1,000)
4,720,903
4,514,998
4,113,932
3,387,131
3,165,360
2,919,013
2,669,768
Total Number of Contracts
668,964,825
483,545,058
318,687,840
248,245,873
243,561,191
220,842,912
251,090,477
Total Amount (R$ 1,000)
6,881,617
6,617,227
6,022,577
5,217,204
4,789,563
4,391,491
4,090,174
465,160,070
232,138,907
126,509,635
142,757,558
165,238,194
162,176,042
173,458,734
Amount (R$ 1,000)
5,345,518
5,072,471
4,538,583
3,508,090
3,356,291
2,715,446
3,045,957
Prize-Winning Plans
(Lottery Draw)
Amount (R$ 1,000)
155,524
301,648
170,971
300,739
140,930
259,001
133,753
211,951
139,166
561,939
122,525
497,343
107,459
193,222
Single Payment Contracts
Monthly Payments Contracts
New Contracts
In Force Contracts
All Contracts
Surrenders
Source: SUSEP
Back
41
Brazilian Capitalization Industry
1999
Revenues
% Increase
Reserves
% Increase
2000
R$ thousand
2001
2002
2003
2004
2005
4,090,174
4,391,491
4,789,563
5,217,204
6,022,577
6,617,227
6,881,617
100.00%
107.37%
117.10%
127.55%
147.25%
161.78%
168.25%
4,579,035
5,534,615
6,315,391
7,202,962
8,223,082
9,143,538
10,557,438
100.00%
120.87%
137.92%
157.30%
179.58%
199.68%
230.56%
Source: SUSEP
2005
2004
9,143,538
6,617,227
2003
6,022,577
2002
4,789,563
2000
4,391,491
4,579,035
4,090,174
1999
Back
8,223,082
7,202,962
5,217,204
2001
42
10,557,438
6,881,617
Technical Reserves
6,315,391
5,534,615
Revenues
Geographic Distribution - Premium Income - Capitalization by
2005
2004
1º
São Paulo
38.00%
38.17%
38.52%
38.96%
39.85%
2º
Rio de Janeiro
11.15%
11.21%
11.88%
11.75%
12.22%
3º
Minas Gerais
8.74%
8.52%
8.34%
8.00%
8.35%
4º
Paraná
7.11%
7.07%
6.42%
5.72%
5.99%
5º
Rio Grande do Sul
7.03%
6.60%
6.73%
6.93%
7.23%
6º
Santa Catarina
3.66%
3.81%
3.87%
3.66%
3.50%
7º
Bahia
3.58%
3.58%
3.48%
3.37%
3.42%
8º
Goiás
2.71%
2.78%
2.61%
2.38%
2.51%
9º
Distrito Federal
2.67%
3.02%
2.89%
4.97%
2.78%
10º Pernambuco
1.93%
1.95%
1.94%
1.96%
1.96%
11º Espírito Santo
1.77%
1.76%
1.76%
1.75%
1.75%
12º
1.75%
1.70%
1.77%
1.70%
1.64%
13º Pará
1.34%
1.35%
1.28%
1.21%
1.22%
14º Mato Grosso
1.34%
1.45%
1.34%
1.22%
1.13%
15º Mato Grosso do Sul
1.24%
1.27%
1.22%
1.13%
1.03%
16º Rio Grande do Norte
0.85%
0.80%
0.77%
0.72%
0.75%
17º Maranhão
0.79%
0.78%
0.82%
0.74%
0.71%
18º
0.78%
0.76%
0.81%
0.73%
0.76%
19º Amazonas
0.74%
0.71%
0.64%
0.62%
0.62%
20º Sergipe
0.59%
0.51%
0.63%
0.50%
0.52%
21º Alagoas
0.57%
0.54%
0.56%
0.50%
0.58%
22º Rondônia
0.48%
0.48%
0.50%
0.47%
0.49%
23º
Ceará
Paraíba
2003
2002
2001
Piauí
0.46%
0.44%
0.44%
0.40%
0.42%
24º Tocantins
0.31%
0.31%
0.29%
0.25%
0.25%
25º Acre
0.17%
0.18%
0.18%
0.15%
0.12%
26º Amapá
0.15%
0.14%
0.15%
0.13%
0.11%
27º Roraima
0.10%
0.11%
0.16%
0.09%
0.08%
Revenues
6,881,617
6,617,227
6,022,577
5,217,204
4,789,563
Source: SUSEP
Back
43
The Companies of the Insurance Industry – 2005
Insurance Companies
Insurance Segment
R$ thousand
Insurance Companies
ACE SEGURADORA S.A.
AGF BRASIL SEGUROS S.A.
AGF SAÚDE S.A.
AIG BRASIL COMPANHIA DE SEGUROS
ALFA PREVIDÊNCIA E VIDA S.A.
ALFA SEGURADORA S.A.
ALVORADA VIDA S.A.
AMERICAN LIFE COMPANHIA DE SEGUROS
AMIL SEGURADORA S.A.
APS SEGURADORA S.A.
ASSURANT SEGURADORA S.A.
ÁUREA SEGUROS S.A.
AVS SEGURADORA S.A.
AZUL COMPANHIA DE SEGUROS GERAIS
BANESTES SEGUROS S.A.
BCS SEGUROS S.A.
BRADESCO AUTO/RE CIA. DE SEGUROS
BRADESCO SAÚDE S.A.
BRADESCO SEGUROS S.A.
BRADESCO VIDA E PREVIDÊNCIA S.A.
BRASILPREV SEGUROS E PREVIDÊNCIA S.A.
BRASILSAÚDE COMPANHIA DE SEGUROS
BRASILVEÍCULOS COMPANHIA DE SEGUROS
BVA SEGUROS S.A.
CAIXA SEGURADORA S.A.
CAIXA VIDA E PREVIDÊNCIA S.A.
CANADA LIFE PREVIDÊNCIA E SEGUROS S.A.
CARDIF DO BRASIL SEGUROS E PREV, S.A.
CENTAURO VIDA E PREVIDÊNCIA S.A.
CHUBB DO BRASIL CIA DE SEGUROS
CIA. SEGUROS PREVIDÊNCIA DO SUL
CIA. SEGUROS MINAS-BRASIL
CIGNA SEGURADORA S.A.
COFACE DO BRASIL SEG. DE CRÉDITO INT, S.A.
COMBINED SEGUROS BRASIL S.A.
CIA. DE SEGUROS ALIANÇA DA BAHIA
CIA. DE SEGUROS ALIANÇA DO BRASIL
CIA. DE SEGUROS GRALHA AZUL
CIA. EXCELSIOR DE SEGUROS
CIA. MUTUAL DE SEGUROS
CONAPP CIA. NACIONAL DE SEGUROS
CONFIANÇA CIA. DE SEGUROS
COSESP - CIA. DE SEG. DO EST, DE SÃO PAULO
ECC DO BRASIL CIA. DE SEGUROS
EULER HERMES SEG. DE CRÉD, À EXP, S.A.
EULER HERMES SEGUROS DE CRÉDITO S.A.
FEDERAL DE SEGUROS S.A.
FEDERAL VIDA E PREVIDÊNCIA S.A.
FINASA SEGURADORA S.A.
GENERALI DO BRASIL CIA. NACIONAL DE SEG.
GENTE SEGURADORA S.A.
GERLING SUL AMÉRICA S.A. SEG. INDUSTRIAIS
HDI SEGUROS S.A.
HSBC SEGUROS (BRASIL) S.A.
HSBC SEG. DE AUTO, E BENS(BRASIL) S.A.
HSBC VIDA E PREVIDÊNCIA (BRASIL) S.A.
ICATU HARTFORD SEGUROS S.A.
INDIANA SEGUROS S.A.
INTERBRAZIL SEGURADORA S.A.
INVESTPREV SEGUROS E PREVIDÊNCIA S.A.
ITAÚ SEGUROS S.A.
ITAÚ VIDA E PREVIDÊNCIA S.A.
ITAUPREV VIDA E PREVIDÊNCIA S.A.
ITAUSEG SAÚDE S.A.
J, MALUCELLI SEGURADORA S.A.
JAVA NORDESTE SEGUROS S.A.
44
Back
Written
Premium
460,459
976,651
222,659
86,690
13,872
155,417
0
29,208
18
23,268
69,535
47,822
196
224,127
93,503
0
2,617,364
3,589,210
135,058
6,642,920
634,156
147,350
752,216
0
880,307
805,437
1,258
76,696
18,579
413,565
78,658
299,953
0
0
0
84,981
1,186,411
65,312
42,478
16,603
49,806
198,215
486,024
0
4,829
5,650
69,310
0
0
273,487
19,147
37,962
380,017
513,227
294,583
426,662
327,393
337,998
(4,630)
4,209
2,192,815
3,063,192
12,925
79,543
80,192
16,610
Earned
Premium
Incurred
Losses
Retained
Losses
341,507 149,146
127,944
727,342 467,983
416,748
222,596 158,583
159,577
67,190
12,811
21,529
7,400
1,699
3,119
137,086 105,433
85,056
0
0
0
19,716
3,260
9,209
24
183
171
14,027
565
7,157
56,332
5,989
5,073
10,681
53,080
6,014
257
269
(46)
171,978 120,013
113,987
80,314
48,200
50,279
0
0
0
2,109,642 1,615,609 1,591,019
3,103,864 3,036,302 3,244,027
60,953
45,287
40,375
1,185,992 653,981
839,369
11,577
0
11,118
146,554 109,051
109,395
681,381 493,386
461,857
0
0
0
729,453 502,456
472,300
23,260
0
55
158
4,229
2,238
73,424
19,295
20,421
9,826
986
6,434
299,894 119,717
112,069
65,411
31,969
34,576
266,129 194,620
184,187
0
(399)
(247)
0
0
0
0
2,837
3,064
38,316
38,117
24,677
1,090,888 456,903
418,951
25,527
5,589
22,271
25,396
11,103
16,872
15,033
5,711
3,235
55,153
43,645
47,131
169,473 120,586
117,958
445,589 357,315
286,583
0
0
0
(905)
755
55
688
3,927
176
59,355
19,482
25,084
0
0
0
0
0
0
193,142 138,911
119,899
9,780
1,434
6,991
18,452
10,862
10,895
338,155 260,742
232,141
675,625 433,976
371,539
69,301
52,459
47,666
97,034
0
39,597
256,588 105,288
142,917
296,138 218,534
198,184
8,909
9,503
11,994
144
0
0
1,710,178 1,122,988
950,009
419,527
98,460
117,793
(90)
0
0
60,079 127,275
128,490
15,395
4,025
7,201
7,940
0
5,518
Supplementary Pension Funds Segment Both Segments (1 and 2)
Acquisition Contributions
Expenses
103,765
0
167,896
0
16,260
0
9,016
0
2,944
19,185
22,222
0
0
0
5,420
0
0
0
1,735
0
29,323
0
(5,562)
0
7
0
34,820
0
12,087
0
0
0
362,560
0
101,839
0
1,729
0
297,246 2,068,122
13,009 1,437,181
8,426
0
86,332
0
0
0
23,482
0
6,126
355,271
194
11,821
36,940
2,834
489
0
55,129
0
13,140
14
50,211
0
0
0
0
0
0
0
6,420
0
238,019
0
292
0
3,671
0
1,123
0
5,826
0
23,254
0
114,808
0
0
0
(575)
0
(1,653)
0
9,655
0
0
0
0
0
44,066
0
321
0
2,105
0
70,356
0
99,335
0
10,458
0
3,461
440,813
66,743
294,216
71,455
0
2,739
0
0
3,965
410,795
0
39,311
747,555
0
57,774
97
0
(6,797)
0
100
0
Benefits
Paid
Total
Acquisition Management
Policyholders
Surrenders Expenses Expenses (*) Net Profit
Surplus
0
0
0
0
0
0
0
0
0
10,559
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
411,303 2,090,563
91,589
756,397
0
0
0
0
0
0
0
0
3,744
241,046
0
23,542
0
2,463
0
0
0
0
1
586
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4,348
224,116
9,750
232,725
0
0
0
0
8
30,268
0
0
9,636
479,430
1,185
84,085
0
0
0
0
0
0
0
0
0
0
37
0
0
0
0
0
0
0
0
0
0
0
0
0
0
124,481
23,054
0
0
0
0
3,768
98
11
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
16,833
7,064
0
0
0
0
1,723
1,117
0
0
0
79,434
19,742
94,872
187,752
56,806 354,547
21,383
23,025
60,571
9,276
21,921 104,590
2,944
541
8,698
26,325
6,630
40,176
460
2,040
20,653
4,733
697
7,660
328
(252)
4,500
5,906
404
11,905
18,831
(736)
26,482
11,927
898
11,131
908
(2,205)
8,260
37,763
22,902
80,626
14,375
9,183
39,372
370
1,446
42,552
334,408
92,070 677,745
250,278 (209,832) 1,838,667
28,952 1,767,312 3,951,837
360,847 1,399,732 1,316,911
131,303
144,900 193,583
15,012
8,956
40,233
82,230
44,335 196,451
53
(992)
8,802
135,882
389,293 1,137,845
36,340
34,383
84,016
2,949
(3,233)
8,241
22,104
(2,353)
19,263
3,293
656
2,476
75,025
22,546 141,019
15,200
2,825
31,049
63,274
11,292
87,856
6,244
(3,251)
12,471
558
206
7,628
2,186
970
10,010
21,535
24,527
88,011
121,512
155,269 231,744
12,117
79,394 681,588
9,218
637
11,241
6,158
702
10,276
8,632
15
34,764
18,475
6,104
46,602
49,801
32,446 187,894
217
303
4,080
1,804
(1,018)
7,449
2,331
1,009
9,133
11,338
649
28,079
175
(9)
2,355
595
772
10,167
36,367
2,226
77,146
2,906
117
8,590
7,847
136
9,723
69,346
21,547 385,522
117,786
350,265 561,343
10,397
6,776
87,349
54,514
24,370
70,689
97,982
48,530 316,290
55,046
8,450
69,095
0
0
0
841
1,564
8,777
344,335
804,270 3,131,092
174,220
610,622 2,659,299
3,808
13,557
75,610
5,234
75,521 779,102
12,098
6,766
52,133
1,508
617
1,746
Insurance Companies
Insurance Segment
R$ thousand
Insurance Companies
Written
Premium
KYOEI DO BRASIL CIA. DE SEGUROS
6,021
LIBERTY SEGUROS S.A.
664,446
LUIZASEG SEGUROS
0
MAPFRE NOSSA CAIXA VIDA E PREV, S.A.
55,344
MAPFRE SEG. DE GARANTIAS E CRÉDITO S.A.
21,652
MAPFRE VERA CRUZ SEGURADORA S.A.
1,207,285
MAPFRE VERA CRUZ VIDA E PREVIDÊNCIA S.A.
571,584
MARÍTIMA SAÚDE SEGUROS S.A.
232,051
MARÍTIMA SEGUROS S.A.
564,823
MAXLIFE SEGURADORA DO BRASIL S.A.
2,237
MBM SEGURADORA S.A.
8,417
METLIFE VIDA E PREVIDÊNCIA S.A.
160,550
METROPOLITAN LIFE SEGUROS E PREV, S.A.
264,946
MINAS BRASIL SEGURADORA VIDA E PREV, S.A.
33,629
MITSUI SUMITOMO SEGUROS S.A.
215,612
MONGERAL S.A. SEGUROS E PREVIDÊNCIA
31,941
NOBRE SEGURADORA DO BRASIL S.A.
80,199
NOTRE DAME SEGURADORA S.A.
119,685
PANAMERICANA DE SEGUROS S.A.
92,096
PARANÁ CIA. DE SEGUROS
79,730
PORTO SEGURO - SEGURO SAÚDE S.A.
536,750
PORTO SEGURO CIA. DE SEGUROS GERAIS
2,355,856
PORTO SEGURO VIDA E PREVIDÊNCIA S.A.
57,766
PQ SEGUROS S.A.
17,825
PREVIMAX PREVIDÊNCIA PRIVADA E SEG. S.A.
0
PRUDENTIAL DO BR SEGUROS DE VIDA S.A.
84,876
QBE BRASIL SEGUROS S.A.
37,427
REAL TOKIO MARINE VIDA E PREVIDÊNCIA S.A.
623,043
ROYAL & SUNALLIANCE SEG. (BRASIL) S.A.
226,765
RURAL SEGURADORA S.A.
13,828
SABEMI SEGURADORA S.A.
27,173
SAEPAR SEGURO SAÚDE S.A.
1,854,648
SAFRA SEGUROS GERAIS S.A.
11,860
SAFRA VIDA E PREVIDÊNCIA S.A.
112,855
SALUTAR SAÚDE SEGURADORA S.A.
2,335
SANTA CATARINA SEG. E PREVIDÊNCIA S.A.
16,000
SANTANDER BANESPA SEGUROS
15,346
SANTANDER SEGUROS S.A.
1,002,833
SANTOS CIA. DE SEGUROS
(38)
SANTOS SEGURADORA S.A.
20,414
SEGURADORABRASILEIRADECRÉD,ÀEXPORT, S.A.
12,080
SEGURADORA BRASILEIRA RURAL S.A.
11,236
SEGURADORA DE CRÉDITO DO BRASIL S.A.
5,607
SEGURADORA ROMA S.A.
75,795
SINAF PREVIDENCIAL CIA. DE SEGUROS
28,722
SUDAMERIS VIDA E PREV S.A.
7,716
SUL AMÉRICA AETNA SEGURO SAÚDE
1,350,470
SUL AMÉRICA CIA. NACIONAL DE SEGUROS
1,947,659
SUL AMÉRICA SEG. DE VIDA E PREV, S.A.
380,124
SULINA SEGURADORA S.A.
57,560
TOKIO MARINE BRASIL SEGURADORA S.A.
273,550
TOKIO MARINE SEGURADORA S.A.
1,236,859
UBF GARANTIAS & SEGUROS S.A.
52,449
UNIBANCO AIG SAÚDE SEGURADORA S.A.
148,337
UNIBANCO AIG SEGUROS S.A.
3,026,366
UNIBANCO AIG VIDA E PREV, S.A.
397,203
UNIMED SEGURADORA S.A.
80,662
UNIMED SEGUROS SAÚDE S.A.
147,028
VANGUARDA CIA. DE SEGUROS GERAIS
0
VIDA SEGURADORA S.A.
114,462
VOTORANTIM SEGUROS E PREVIDÊNCIA S.A.
0
XL INSURANCE (BRAZIL) SEGURADORA S.A.
24,560
YASUDA SEGUROS S.A.
237,868
ZURICH BRASIL SEGUROS S.A.
179,601
TOTAL INSURANCE COMPANIES
50,986,823
(1) Include Tax Expenses
Earned
Premium
Incurred
Premium
Retained
Losses
5,976
622,042
0
4,350
1,373
919,146
476,198
230,138
509,653
737
8,408
138,721
241,009
(1,056)
137,217
22,152
50,731
119,645
75,064
38,107
531,526
2,203,516
14,502
8,521
0
40,816
34,426
601
171,126
14,438
26,064
1,852,955
3,424
55,704
2,343
15,235
7,748
128,835
3
22,304
1,731
886
581
62,163
19,589
11,613
1,349,157
1,560,663
323,402
27,707
227,765
1,079,969
9,353
146,782
1,463,147
25,222
80,387
146,851
0
103,261
0
11,419
226,352
96,587
921
482,910
0
1,149
2,974
710,536
199,938
170,451
301,965
0
2,960
35,016
117,910
0
115,007
4,153
26,133
104,134
9,219
4,715
377,070
1,389,624
336
2,238
0
5,603
27,762
6
98,431
4,565
2,972
1,437,881
9,602
5,634
1,875
9,247
7,294
114,558
368
21,823
4,887
13,086
105
24,075
3,384
3,047
1,165,032
1,236,502
235,405
19,602
144,759
767,030
4,206
109,993
941,970
0
77,536
95,983
0
39,893
0
4,968
171,643
59,643
3,339
437,574
0
2,357
430
593,569
239,616
170,028
260,814
(206)
2,902
39,802
126,381
12
105,207
10,971
23,435
107,995
18,249
33,370
378,814
1,232,126
9,397
8,341
0
3,473
15,913
53
80,154
3,535
3,829
1,431,032
451
11,414
1,979
9,356
2,161
149,481
126
19,189
1,132
292
43
24,524
9,013
2,754
1,175,025
1,011,062
246,686
11,701
135,692
723,995
5,903
111,959
750,667
15,010
48,585
101,574
(2)
66,005
0
3,169
132,421
40,880
Acquisition Contributions
Expenses
588
128,417
0
359
(4,191)
203,898
156,478
15,023
115,709
(186)
648
64,956
59,687
236
32,281
442
10,637
3,936
2,198
453
38,661
523,880
1,306
108
0
11,480
8,263
5,474
36,545
450
6,929
135,296
(101)
112
5
1,551
776
57,459
4
2,383
(3,682)
(1,149)
(1,707)
25,187
2,945
2,740
9,313
342,273
67,063
2,258
41,028
189,308
(4,467)
11,839
270,919
7,630
3,796
6,532
0
29,020
0
1,006
43,746
18,993
Benefits
Paid
Total
Acquisition Management Net Profit Policyholders’
Surrenders Expenses Expenses (*)
Surplus
0
0
0
14,480
0
0
58,337
0
0
0
0
24,850
13,306
8,514
0
90,015
0
0
0
0
0
0
101,467
0
4
0
0
221,159
0
0
72
0
0
31,445
0
(1,263)
0
95,550
0
0
0
0
0
0
0
2,928
0
0
113,344
0
0
0
0
0
0
848,542
25,598
0
0
6,758
0
0
0
0
0
0
0
119
0
0
4,612
0
0
0
0
0
134
545
0
16,907
0
0
0
0
0
0
2,218
0
0
0
0
19,057
0
0
78
0
0
122
0
0
0
2,982
0
6,961
0
0
0
0
0
1,308
0
0
32,347
0
0
0
0
0
0
56,951
630
0
0
336
0
0
0
0
0
0
0
3,334
0
0
32,723
0
0
0
0
8,439
10,169
18,900
0
6,443
0
0
118
0
0
0
67,477
0
0
0
0
172,256
0
0
4
0
0
22,462
0
364
0
288,995
0
0
0
0
0
0
0
43,192
0
0
66,947
0
0
0
0
0
0
591,768
15,304
0
2
16,454
0
0
0
0
0
0
0
407
0
0
414
0
0
0
0
179
0
135
0
29,982
0
0
0
0
0
0
3,738
0
0
0
0
2,911
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
150
0
0
5,491
0
0
0
0
0
0
8,458
872
0
0
237
0
0
0
0
5,715
163,065
241
8,393
4,610
165,099
49,881
44,512
138,274
21
3,706
25,798
90,621
1,985
32,918
54,962
15,096
13,550
26,371
11,640
81,956
507,763
11,064
4,175
384
53,080
10,145
28,383
48,560
3,383
12,878
157,377
1,367
21,400
373
2,647
964
45,142
313
6,270
11,940
2,879
2,754
12,828
7,059
8,935
108,797
338,761
53,701
13,558
46,206
169,337
8,548
5,984
292,108
49,002
22,515
27,164
174
37,442
233
5,396
45,700
26,793
32,433,059 22,533,860 21,646,484 5,358,911 7,293,857
676,872
5,541,133
231,160
6,399,392
(3,575)
(32,865)
187
(7,285)
3,474
33,221
7,093
6,338
15,913
786
219
5,754
(33,474)
1,425
(31,942)
2,823
428
1,367
14,661
286,041
44,203
215,524
13,378
(468)
416
38
(1,522)
14,021
17,777
8,267
5,328
89,537
3,839
31,053
589
312
7,681
129,585
(1,349)
(12,371)
2,524
(594)
680
743
1,174
6,345
(1,314)
(74,740)
(126,746)
426
11,356
78,482
2,599
12,515
296,492
71,706
14,197
10,053
370
(17,045)
784
7,233
28,482
6,177
21,498
193,678
57,555
12,929
22,062
500,898
120,588
32,330
167,404
4,516
7,905
36,359
83,404
10,216
91,661
32,567
16,650
22,149
74,736
1,958,258
139,854
968,834
109,900
13,470
7,682
122,118
18,898
141,889
110,189
55,180
13,571
483,082
11,929
118,506
6,340
3,497
43,194
261,060
7,598
10,841
16,163
8,827
10,406
24,474
7,720
47,140
1,017,904
1,100,946
152,563
9,135
110,934
512,129
18,899
55,096
1,401,914
260,240
64,947
34,440
3,928
28,471
7,928
55,410
133,086
42,099
7,307,318 31,569,384
Back
45
EAPCs (Open Pension Fund Entities)
Insurance Segment
R$ thousand
Written
Premium
EAPCs
ACVAT- PREVIDÊNCIA PRIVADA
APLUB - PREVIDÊNCIA PRIVADA
ARC PREVIDÊNCIA PRIVADA
ARCESP PREVIDÊNCIA PRIVADA
ASPECIR PREVIDÊNCIA
BAMÉRCIO S.A. PREVIDÊNCIA PRIVADA
BMC PREVIDÊNCIA PRIVADA S.A.
CAPEMI-CX.PEC.PENS.E MONTEP.-BENEFICENTE
Earned
Premium
Incurred
Premium
Total
Retained Acquisition
Acquisition Management
Policyholders‘
Benefits
Contributions
Surrenders Expenses Expenses (*) Net Profit
Expenses
Losses
Surplus
Paid
931
563
0
12
479
(10)
4,105
55,130
30,790
5,692
3,569
11,085
2,289
71,797
346
67
277
35
528
797
6,215
63
1
0
0
63
191
1,650
3,110
572
0
1,039
2,612
2,891
13,393
48
0
0
0
370
569
7,328
0
0
0
0
141
1,065
8,012
198,447
139,026
18,548
11,333
105,252
97,377
469,989
EMPRESARIAL DE PREVIDÊNCIA PRIVADA
352
5
0
32
606
(14)
977
EQUATORIAL PREVIDÊNCIA PRIVADA
718
59
0
169
886
350
5,501
3,452
137
190
37
972
3,150
6,006
96,324
102,829
255
3,319
26,334
14,404
247,692
FAMÍLIA BANDEIRANTE PREVIDÊNCIA PRIVADA
GBOEX - GRÊMIO BENEFICENTE
LUTERPREV- ENTIDADE LUTERANA DE PREVIDÊNCIA
4,181
0
0
81
1,331
(973)
282
10,752
7,565
568
537
8,815
2,527
23,604
NEWPREV PREVIDÊNCIA PRIVADA S.A.
0
0
0
0
23
(23)
128
PECÚLIO ABRAHAM LINCOLN - AMAL
3,368
830
144
1,385
3,587
5,247
24,066
PECÚLIO UNIÃO PREVIDÊNCIA PRIVADA
1,865
272
4
0
1,346
(141)
5,347
PREVBRAS- SOCIEDADE NACIONAL DE PREVIDÊNCIA PRIVADA
366
39
105
4
454
68
1,029
PREVICORP PREVIDÊNCIA PRIVADA
193
14
0
0
255
(30)
1,624
3,997
1,120
28
786
4,776
(647)
1,049
MBM PREVIDÊNCIA PRIVADA
PREVIMIL PREVIDÊNCIA PRIVADA
RECÍPROCA ASSISTÊNCIA
4,524
1,889
301
248
1,993
998
10,083
11,395
5,567
2,745
1,798
11,743
(343)
2,628
SABEMI PREVIDÊNCIA PRIVADA
991
334
0
62
803
951
2,340
SOCIEDADE AUXILIADORA
543
107
35
232
1,104
(608)
5,632
SOCIEDADE CAXIENSE DE MÚTUO SOCORRO
841
93
12
294
669
536
6,602
SUCV UNIÃO DE PREVIDÊNCIA
779
576
0
14
877
(555)
3,454
UNIÃO PREVIDENCIÁRIA COMETA DO BRASIL
6,351
1,029
83
846
2,765
10,162
33,173
UNIPREV UNIÃO PREVIDENCIÁRIA
3,172
518
16
221
1,969
897
6,850
RS PREVIDÊNCIA
UPOFA UNIÃO PREVIDENCIAL
TOTAL EAPCs
INSURANCES AND OPEN PENSION FUNDS, AND EAPCs
46
Back
860
206
0
574
917
454
8,582
413,100
294,207
29,004
26,627
192,754
141,578
979,135
50,986,823 32,433,059 22,533,860 21,646,661 5,358,911 7,706,957
971,079 5,570,138
257,787 6,592,146 7,448,896 32,548,520
Source: SUSEP and ANS
Capitalization
R$ thousand
Technical
Reserves
Capitalization Companies
Income
APLUB CAPITALIZAÇÃO S.A.
15,549
33
ATLÂNTICA CAPITALIZAÇÃO S.A.
Surrenders/
Prize-winning
Acquisition
Expenses
Management
Expenses (*)
8,059
11,829
1,442
2,942
43
Net Profit
740
Policyholders’
Surplus
14,155
28
0
505
1,374
14,658
BRADESCO CAPITALIZAÇÃO S,A
1,419,926 2,138,866 1,229,175
17,797
55,512
329,780
313,407
BRASILCAP CAPITALIZAÇÃO S.A.
1,719,847 2,753,984 1,502,239
117,189
48,848
148,479
130,673
73,679
177,841
CAIXA CAPITALIZAÇÃO S.A.
555,165
958,654
482,369
43,737
39,718
CIA. ITAÚ DE CAPITALIZAÇÃO
786,853 1,117,027
632,788
25,341
117,897
0
0
0
0
293
(293)
3,998
491
0
363
0
486
(94)
601
0
22,248
422
0
2,752
784
20,245
HSBC EMPRESA DE CAPITALIZAÇÃO (BRASIL) S.A.
212,210
348,459
166,957
7,765
7,288
49,895
92,557
ICATU HARTFORD CAPITALIZAÇÃO S.A.
598,957 1,023,138
473,113
65,654
81,030
34,727
94,956
LIDERANÇA CAPITALIZAÇÃO S.A.
354,136
364,655
158,196
170,183
48,212
40,315
205,563
0
0
0
0
112
318
3,242
CREFICAP CAPITALIZAÇÃO S.A.
HORIZONTE CAPITALIZAÇÃO S.A.
HSBC CAPITALIZAÇÃO (BRASIL) S.A.
MOTRIN CAPITALIZAÇÃO S.A.
NOSSA CAIXA CAPITALIZAÇÃO S.A.
283,040 1,091,412
0
0
0
0
67
606
6,008
258,451
435,074
213,223
5,563
22,833
41,727
83,090
0
0
0
0
375
1,453
0
SANTANDER CAPITALIZAÇÃO S.A.
286,683
494,040
244,023
4,170
10,443
41,711
54,476
SUL AMÉRICA CAPITALIZAÇÃO S.A. - SULACAP
199,932
330,847
175,287
9,432
51,345
41,868
181,960
UNIBANCO CIA. DE CAPITALIZAÇÃO
459,114
539,809
343,874
46,350
13,159
117,290
404,751
14,269
22,535
13,280
824
6,737
(5,541)
1,023
6,881,617 10,557,438 5,647,166
515,448
510,554
1,201,860
REAL CAPITALIZAÇÃO S.A.
RURAL CAPITALIZAÇÃO S.A.
VALOR CAPITALIZAÇÃO S.A.
TOTAL
2,894,617
Source: SUSEP
Back
47
International
Insurance
Industry
2005
World Industry
In 2005, the world insurance premiums increased 4.95%,
amounting to US$ 3,43 trillion. Such growth was due
mainly to the 5.74% increase in premiums for life insurance. Non-life insurance premiums increased 3.90% in
the same period, an increase less than the 9.38% in the
previous period. Even so, non-life premiums represented
42.39% of the world total premiums, being surpassed for
life insurance premiums, with 57.61%.
The five largest world industries (United States, Japan,
United Kingdom, France and Geramany) produced 68.28%
of the total world insurance premium.
United States ranked first with 33.36%, followed by Japan
with 13.91%. These two countries together had 47.27% of
the total premiums written all over the world in 2005.
However, the insurance industry of each country has a
different structure, as in Japan, 78.90% of all premi-
50
Back
ums are for life insurance, whereas in the North American industry, 54.76% of all premiums are for non-life
insurances.
In 2005, with total written premiums amounting to
US$ 23,96 billion, Brazil ranked 20th, one position above
last year’s ranking. Brazil’s life insurance total written
premiums, US$ 10,56 billion, ranked 25th, and total nonlife insurance, US$13,40, ranked 16th.
The development of life insurance shall surpass non-life
insurance and, thus, will change the structure of the Brazilian insurance industry, which will come abreast with
those of more developed countries.
In the general ranking, Brazil ranked 50th with respect
to premium per capita, 5 positions up, and with
respect to premium to GDP ratio, it ranked 46th, 3 positions up from the one in the previous year.
Premium 2005
World Insurance Industry - 2005/2004
Country
Life
Premium (US$ million)
Non-Life
Life + Non-Life
% share in 2005
Ranking Premium Ranking Premium Ranking Premium Ranking Premium Ranking Premium Ranking Premium
2005
2005
2004
2004
2005
2005
2004
2004
2005
2005
2004
2004
Individual Accumulated
USA
1º
517,074
1º
502,303
1º
625,838
1º
606,988
1º 1,142,912
1º 1,109,291 33.36% 33.36%
Japan
2º
375,958
2º
389,843
4º
100,523
3º
104,892
2º
476,481
2º
494,735 13.91% 47.27%
United Kingdon
3º
199,612
3º
193,196
3º
100,629
4º
99,003
3º
300,241
3º
292,199
8.76% 56.04%
France
4º
154,058
4º
133,456
5º
68,162
5º
66,407
4º
222,220
4º
199,863
6.49% 62.52%
Germany
6º
90,225
5º
84,697
2º
107,026
2º
106,114
5º
197,251
5º
190,811
5.76% 68.28%
Italy
5º
91,740
6º
82,083
6º
47,453
6º
46,321
6º
139,193
6º
128,404
4.06% 72.34%
South Korea
7º
58,848
7º
48,485
11º
24,085
11º
20,321
7º
82,933
8º
68,806
2.42% 74.76%
Canada
10º
34,456
11º
29,013
7º
44,267
7º
40,922
8º
78,723
7º
69,935
2.30% 77.06%
Netherlands
11º
31,914
10º
31,061
9º
29,159
9º
28,857
9º
61,073
9º
59,918
1.78% 78.85%
Spain
15º
25,518
15º
23,592
8º
34,757
8º
32,410
10º
60,275
10º
56,002
1.76% 80.61%
China
8º
39,592
8º
34,449
12º
20,539
13º
17,722
11º
60,131
11º
52,171
1.76% 82.36%
13º
27,602
12º
25,719
10º
24,300
10º
23,069
12º
51,902
12º
48,788
1.52% 83.88%
9º
38,808
9º
33,279
17º
10,197
18º
9,412
13º
49,005
13º
42,691
1.43% 85.31%
Belgium
12º
31,026
13º
24,736
15º
15,367
14º
14,827
14º
46,393
15º
39,563
1.35% 86.66%
Switzerland
16º
22,747
14º
24,313
13º
18,330
12º
17,868
15º
41,077
14º
42,181
1.20% 87.86%
South Africa
14º
25,930
16º
23,497
23º
7,256
23º
6,203
16º
33,186
16º
29,700
0.97% 88.83%
Ireland
18º
20,010
17º
19,068
19º
9,801
19º
9,089
17º
29,811
17º
28,157
0.87% 89.70%
Sweden
19º
18,866
19º
15,850
20º
8,844
20º
8,493
18º
27,710
18º
24,343
0.81% 90.51%
India
17º
20,175
18º
17,500
27º
4,848
28º
4,108
19º
25,023
19º
21,608
0.73% 91.24%
Brazil*
25º
10,556
24º
8,199
16º
13,399
16º
9,843
20º
23,955
21º
18,042
0.70% 91.94%
Denmark
22º
13,448
22º
12,498
22º
7,487
21º
7,426
21º
20,935
20º
19,924
0.61% 92.55%
Austria
27º
8,833
27º
7,667
18º
10,064
17º
9,710
22º
18,897
22º
17,377
0.55% 93.10%
Finland
21º
14,138
20º
12,823
31º
3,558
32º
3,524
23º
17,696
24º
16,347
0.52% 93.62%
Hong Kong
20º
15,340
21º
12,636
40º
2,299
39º
2,331
24º
17,639
25º
14,967
0.51% 94.13%
Russia
41º
904
31º
3,547
14º
16,618
15º
12,820
25º
17,522
23º
16,367
0.51% 94.64%
Portugal
24º
11,447
26º
7,823
26º
5,244
25º
5,291
26º
16,691
27º
13,114
0.49% 95.13%
Norway
26º
9,400
25º
7,869
24º
6,723
24º
6,036
27º
16,123
26º
13,905
0.47% 95.60%
Luxembourg
23º
12,071
23º
9,706
47º
1,456
47º
1,361
28º
13,527
29º
11,067
0.39% 96.00%
Mexico
29º
5,257
29º
5,213
21º
7,524
22º
7,067
29º
12,781
28º
12,280
0.37% 96.37%
Singapore
28º
7,176
28º
6,711
34º
3,059
33º
3,148
30º
10,235
30º
9,859
0.30% 96.67%
Poland
31º
3,925
34º
2,832
25º
5,517
26º
4,612
31º
9,442
31º
7,444
0.28% 96.94%
Israel
33º
3,431
32º
3,196
30º
3,997
29º
3,924
32º
7,428
32º
7,120
0.22% 97.16%
Malaysia
30º
4,795
30º
4,208
38º
2,432
40º
2,245
33º
7,227
33º
6,453
0.21% 97.37%
80,726
2.63% 100.00%
Australia
Taiwan
All others
Total
28,823
25,568
61,253
55,158
90,076
1,973,703
1,866,636
1,452,011
1,397,522
3,425,714
* Does not include Capitalization data
3,264,158 100.00%
Source: Swiss Re, Sigma nº5/2006
Back
51
Latin America
In 2005, Brazil consolidated its position as the largest insurance industry in Latin America, with Mexico ranking
2nd for the third consecutive year. Brazil amounted to
US$ 23,96 billion, 40.88% of the Latin American total premium.
Mexico, with US$ 12,78 billion, had 21.81% of that total.
In the same position of the previous year, Argentina, with 7.88%
of the total premiums in Latin America, ranked 3rd, surpassing
Chile, which with 7.71%, ranked 4th, also maintained its position.
As for the density of the insurance, considering premium per capita, individual premium in Brazil amounted
52
Back
to US$ 128,9 in 2005, above the Latin America average,
US$ 105,7. An increase from US$72,2 in 2002 to
US$ 82,6 in 2003, to US$ 101,1 in 2004 and, finally, to
US$ 128,9 in 2005.
However, the world average amounting to US$ 518,5 in
premium per capita shows there is a lot of space to be
filled in by the Brazilian insurance industry.
The Brazilian insurance premium to GDP ratio in 2005 was
3.01% whilst in Latin America that ratio was below 3%,
therefore far away from the world average, 7.52%.
Latin American Insurance Industry - 2005/2004
Life
Non-Life
Ranking
Premium
Ranking
2005 2004
2005
2005 2004
2004
Life + Non-Life
Premium
2005
2004
Ranking Country
Premium
2005 2004
2005
2004
Premium (US$ million)
% Share
in GDP
Premium per
capita - US$
2005
2004
2005
1º
1º 10,556
8,199
1º
1º 13,399
9,843
1º
1º BRAZIL*
23,955 18,042
128,9
101,1
3.01%
2.98%
2004
2º
2º 5,257
5,213
2º
2º
7,524
7,067
2º
2º MEXICO
12,781 12,280
121,3
117,8
1.66%
1.86%
4º
4º 1,384
1,347
4º
3º
3,235
2,763
3º
3º ARGENTINA
4,619
4,110
118,0
105,1
2.52%
2.68%
3º
3º 2,807
2,617
6º
6º
1,711
1,410
4º
4º CHILE
4,518
4,027
281,5
253,1
3.60%
3.93%
11º
11º
97
78
3º
4º
3,254
2,550
5º
5º VENEZUELA
3,351
2,628
125,3
101,1
2.47%
2.55%
6º
5º
764
645
5º
5º
1,986
1,691
6º
6º COLOMBIA
2,750
2,336
60,3
51,9
2.23%
2.51%
5º
6º
777
640
12º
15º
280
231
7º
8º TRINIDAD Y TOBAGO
1,057
871
810,2
659,3
7.63%
7.85%
7º
7º
529
400
8º
7º
445
483
8º
7º PERU
974
883
34,8
32,1
1.28%
1.31%
12º
12º
71
58
7º
8º
472
419
9º
9º ECUADOR
543
477
41,0
37,1
1.70%
1.68%
8º
8º
179
157
11º
12º
296
259 10º
11º JAMAICA
475
416
179,4
161,6
4.82%
5.00%
13º
15º
60
28
9º
9º
407
322 11º
13º DOMINICAN REPUBLIC
467
350
52,5
41,3
1.62%
2.05%
9º
9º
153
153
13º
11º
277
269 12º
10º PANAMA
430
422
133,0
139,3
2.80%
3.07%
10º
10º
103
105
16º
14º
247
246 13º
12º EL SALVADOR
350
351
50,8
52,7
2.08%
2.28%
16º
16º
28
28
10º
10º
320
320 14º
14º COSTA RICA
348
348
80,3
85,7
1.88%
1.87%
15º
13º
52
44
14º
13º
269
246 15º
15º GUATEMALA
321
290
25,5
23,0
1.02%
1.09%
14º
14º
54
41
15º
16º
266
205 16º
16º URUGUAY
320
246
92,3
-
1.86%
-
392
363
948
873
1,340
1,236
23,263 20,116
OTHERS
35,336 29,197
TOTAL
58,599 49,313
* Does not include capitalization income
105,7
90,9
Life
Non-Life
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
il
az
Br
a
o
ic
in
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ex
e
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Gu
El
Back
53
Brazilian
Insurance
Industry
First half of 2006
Brazilian Insurance Industry
First half of 2006
The insurance industry overall income in the first half of 2006
amounted to R$ 35.01 billion, a 14.3% increase in relation to
the amount of R$ 30.64 billion in the first half of 2005.
increase, jumping from R$ 4.45 billion to R$ 6.18 billion,
leveraging the whole segment increase during the first
half of 2006.
In the first half of 2006, the premium income for general
insurance, with 37% of the insurance industry, amounted
to R$ 12.94 billion, a figure 16.8% larger than the R$ 11.08
billion in the same period of the previous year. The motor
insurances are highlighted, which with a 15.1% growth in
the period, reached 51.7% of the premium income of
general insurance.
On the opposite side, the health insurance showed a slowdown in its growth. In the first half of 2006, the premium
income amounted to R$ 4.42 billion, against the first half
of 2005, of R$ 4.09 billion: the increase of the period was
only 8% against the 12.4% of the pervious period.
Life and personal accident insurances premium, in the
first half of 2006, amounted to R$ 14.27 billion, against
the R$ 12.17 billion, in the first half of 2005, the equivalent
to a 17.3% increase comparing the two periods. VGBL
was awarded the best performance, with a nearly 40%
Capitalization segment increased 2.9%, arising from the
income of underwritten capitalization securities in the first
half of 2006 amounted to R$ 3.39 billion, against the
R$ 3.29 billion underwritten in the first half of 2005. Nevertheless, equal increase had already been registered in
the same period of 2005 and 2004, showing an increase
below the inflationary rates.
Insurance Industry
Total Revenues
2006 / 1 half
General Insurance
Danos
12,938,561
Δ%
D%
Health Insurance
Saúde
Life/Pers. Ac./Open Pension Funds
Pessoas
14,269,349
Δ%
17.2%
10,732,448
Δ%
27.8%
Open
Pension Funds
Previdência
Aberta
3,536.900
D%
Δ%
D%
Capitalization
Capitalização
Δ%
D%
Insurance
Industry Total
Total
Mercado
Δ % on
last period
D % sobre período
anterior
11,081,689
12.6%
4,091,088
40.8%
12,170,392
30.7%
8,398,437
14.3%
9,676,037
13.4%
3,640,621
9.7%
3,292,194
39.7%
11,997,583
27.4%
7,880,003
7.4%
42.1%
27.6%
50.9%
12.3%
4,117,580
10.7%
3,198,127
14.4%
2.1%
2.9%
30,635,363
12.8%
29.6%
(8.4)%
100%
33.9%
11.6%
6.6%
3,771,955
MIX
10.9%
1.4%
10.1%
2004 / 1 half
st
36.2%
12.4%
2.9%
35,013,935
Mix
14.5%
(6,2)%
3,388,851
2005 / 1 half
st
37.0%
8.0%
Vida + Life
AP + Personal Accident
D%
Mix
16.8%
4,417,175
Δ%
D%
R$ thousand
st
11.2%
12.1%
100%
28,512,369
100%
18.4%
56
Back
General Insurance
Premium Income
R$ thousand
Segments/Groups
2006 / 1st half
Motor
6,686,158
Δ%
2,542,749
Δ%
1,720,066
Δ%
236,214
Δ%
745,396
Δ%
19.7%
2,203,321
124,064
Δ%
13.3%
1,161,204
301,015
Δ%
1.8%
194,782
237,094
Δ%
5.8%
719,689
1.0%
86,997
149,749
Δ%
234,700
102,414
Δ%
(0.1)%
Δ%
(34.7)%
Special Risks
93,639
Others
0
Δ%
1.8%
213,030
1.2%
211,653
12,938,561
10.5%
911,903
102,539
1.8%
384,334
143,434
6.5%
691,839
13
0.8%
133,038
100.0%
36.2%
100.0% 35,013,935
2.1%
176,951
1.9%
14.3%
7.4%
1.8%
178,963
1.8%
(12.8)%
1.9%
258,710
2.7%
(18.6)%
0.9%
87,066
0.9%
55.3%
1.3%
126,509
1.3%
16.6%
0.0%
11,081,689 100.0%
30,635,363
1.4%
60.2%
983
0.0%
26.5%
33.9%
14.5%
100.0%
7.2%
92.5%
(98.7)%
16.8%
4.0%
20.5%
13.4%
0.0%
9.4%
(1.3)%
17.8%
0.7%
18.9%
14.8%
(18.2)%
0.8%
50.6%
2.1%
19.0%
(100.0)%
37.0%
1,828,128
32.6%
(29.2)%
Rural
19.9%
(34.6)%
2.3%
Mix
13.7%
4.0%
11.3%
Hull
4,897,613
(49.3)%
28.3%
Liability
52.4%
27.3%
42.6%
Credit
2004 / 1st half
20.5%
3.6%
Financial Risks
Mix
18.6%
21.3%
Cargo
Δ % on last period
5,810,328
48.1%
Home/Housing
Insurance Industry Total
51.7%
15.4%
DPVAT
Δ%
2005 / 1st half
15.1%
Property
General Insurance Total
Mix
9,676,037
100.0%
10.9%
100.0%
28,512,369
18.4%
Source: SUSEP
In the first half of 2006, general insurance premium
income amounted to R$ 12.94 billion, against the
R$ 11.08 billion registered in the first half of 2005.
The increase within the period was 16.8%, reaching a representativeness of 37% within the insurance industry.
The premium income of the main groups for general insurance, such as motor, property and DPVAT, in the first
half of 2006, amounted to R$ 10.95 billion, the equivalent
to 84.6% of the total amount of the segment and 31.3%
of the total amount of the insurance industry.
The premium income for these same groups, in the first
half of 2005, amounted to R$ 9.17 billion: the premium
income of R$ 10.95 billion in the first half of 2006, represented, therefore, an increase of 19.3%, larger than the
one for the whole segment, 16.8%.
Back
57
Health Insurance
Premium Income
R$ thousand
Segments/Groups
2006 / 1st half
Individual Health
1,320,085
Δ%
3,097,089
Δ%
Δ % on last period
29.9%
1,269,978
4,417,175
Mix
2004 / 1st half
31.0%
1,243,315
2.1%
70.1%
2,821,110
9.8%
12.6%
Δ%
2005 / 1st half
3.9%
Group Health
Health Insurance Total
Mix
100.0%
13.4%
100.0% 35,013,935
69.0%
2,397,307
14.3%
4,091,088 100.0%
30,635,363
7.4%
65.8%
16.8%
12.8%
12.4%
100.0%
34.2%
2.8%
17.7%
8.0%
Mix
3,640,621 100.0%
11.6%
100.0%
28,512,369
18.4%
Source: ANS
In the first half of 2006, the total premium income for health
insurance amounted to R$ 4.417.2 million, a 7.97% increase
in relation to the same period of the year before. Different
from previous years, the premium income for individual insurance increased 3.95%, due to the ANS’s recognizing
about the VCMH index (Variation of Medical/Hospital Costs),
as a parameter for the adjustment of the old plans.
The premium income for collective contracts increased 9.78%,
going from R$ 2.821.1 million in the first half of 2005 to
R$ 3.097.1 million in the first half of 2006. Such result was
only possible by means of a combination of effects. On the
one hand, the price arises from the free negotiation among
the parties, permitting a better adjustment to the increasing
costs of the sector. On the other hand, the number of assureds has also increased, possibly answering to a heating
of the labour market. The current moment consolidates the
reduction trend of individual plans in relation to collective
ones. Within the current portfolio mix, 30% of the premiums
are resultants from individual contracts and the remaining
70%, from collective plans.
The general loss ratio of the segment decreased, significantly, from 12.10 percentage points: went down from
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97.55% in the first half of 2005 to 85.45% in the first half of
2006, as consequence of the intensification of the negotiation efforts within the network of reference, and for the adoption of disease prevention and health promotion programs
undertaken by some insurance companies. By deducing
the effect of the technical reserves over the earned premiums and the net losses, the pure loss ratio of the sector
was 77.65% in the first half of 2006, showing a decrease
trend in relation to the index in the same period of 2005
(83.36%). The loss ratio decrease for individual contracts
was 28.17 percentage points, whereas for the collective
ones the decrease was 7.25 percentage points.
The policyholders’ surplus, in the first half of 2006, in comparison with the same period of 2005, increased 47.71%,
jumping from R$ 3.141.3 million to R$ 4.640.1 million.
Such increase in the policyholders’ surplus, larger than
the increase in the insurance premiums (7.97%), decreased the leverage in the first half of 2006 to 1.90, against
2.60 in the first half of 2005, giving a more balanced dimension to the property risk. The policyholders’ surplus
had a 12.54% result index, representing an increase of
200% in relation to equal period of the previous year, in
despite of the policyholders’ surplus increase.
Life and Personal Accident Insurances, and Pension Funds
Premiums and Contributions
1st half 2005
Segments/Groups
% share
R$ thousand
PCHV
1st half 2006
R$ thousand
% share
%
125
0.00%
249
0.00%
99%
4,732
0.06%
6,494
0.06%
37%
Random Events
147,096
1.76%
168,684
1.57%
15%
Individual life
263,433
3.15%
327,821
3.06%
24%
2,448,207
29.28%
2,743,957
25.58%
12%
Group Personal Accident
496,957
5.94%
552,763
5.15%
11%
Individual Personal Accident
134,615
1.61%
111,633
1.04%
-17%
11,166
0.13%
7,874
0.07%
-29%
4,254,577
50.88%
5,915,637
55.14%
39%
Group VGBL
160,374
1.92%
256,589
2.39%
60%
440,919
5.27%
636,796
5.94%
44%
-2
0.00%
0
0.00%
-
8,362,199
100.00%
10,728,497
100.00%
Tourism
Group Life
Educational
Individual VGBL
Group Life.Group Personal Accident
Total
28.30%
Source: SUSEP
VGBL
Premiums
R$ thousand
2006
%
(2005/2206)
674,333
1,107,098
64%
February
517,771
825,845
60%
March
765,286
1,124,614
47%
April
770,996
942,317
22%
May
717,310
1,104,159
54%
June
950,253
1,076,629
13%
Total
4,395,949
6,180,662
Period
2005
January
41%
In the first half of 2006, total premiums income in life and
personal accident insurances amounted to R$ 10.7 billion,
a 28% increase in relation to the same period of the
previous year.
Pension funds continued to be responsible for the good
performance in the sector. In the first half of 2006 the
premium income for such funds represented 58% of the
total premium, stimulated by VGBL plans.
Source: SUSEP
R$ thousand
Period
VGBL/PMBaC
June/2005
22,038,265
June/2006
33,688,474
%
53%
The premium income for VGBL plans amounted to
R$ 6 billion in the first half of 2006, 41% above the income
in the same period of 2005. Such increase led the
accumulated savings in these plans to reach in June, 2006
the amount of R$ 34 billion, 53% larger than the amount
reached in June, 2005.
Source: SUSEP
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59
Capitalization
Revenues
R$ thousand
Segments/Groups
2006 / 1 half
st
Capitalization Contracts
3,388,851
Δ%
Δ % on last period
2005 / 1 half
9.7%
3,292,194
100.0%
30,635,363
2.9%
35,013,935
Mix
st
Mix
10.7%
3,198,127
100.0%
28,512,369
2.9%
14.3%
2004 / 1 half
st
Mix
11.2%
12.1%
7.4%
100.0%
18.4%
Source: SUSEP
Technical Reserves
R$ thousand
Segments/Groups
2006 / 1 half
Mix
10,822,943
9.2%
st
Δ%
Δ % on last period
2005 / 1 half
st
9,837,725
10.0%
13.0%
117,781,536
95,674,670
23.1%
26.5%
Mix
2004 / 1 half
st
10.3%
8.707.469
100.0%
75.625.286
Mix
11.5%
10,7%
100.0%
35.5%
Source: SUSEP
Capitalization had a modest increase in the first half of 2006, amounting to R$ 3.39 billion, a 2.94% increase in relation
to the first half of 2005.
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Technical Reserves
R$ thousand
Segments/Groups
Insurance (excluding VGBL)
Δ%
VGBL
2006 / 1st half
Mix
2005 / 1st half
Mix
2004 / 1st half
Mix
21,337,803
18.1%
17,824,422
18.6%
14,301,222
18.9%
19.7%
34,751,936
Δ%
Open Pension Funds
Δ % on last period
43.2%
23.8%
45,258,648
9.2%
9,837,725
47.3%
100%
95,674,670
26.5%
18.7%
38,493,098
50.9%
23.5%
10.3%
13.0%
23.1%
14,123,496
153.9%
17.6%
10.0%
117,781,536
22,753,875
18.8%
61.1%
12.4%
10,822,943
Δ%
29.5%
52.7%
50,868,855
Δ%
24.6%
8,707,469
11.5%
10.7%
100%
75,625,286
100%
33.5%
In the first half of 2006, technical reserves of the insurance industry amounted to R$ 117.78 billion, an increase
of 23.1%, against R$ 95.67 billion in the first half of 2005.
Pension funds (VGBL) was the most expressive segment
with a 52.7% increase, jumping from R$ 22.75 billion in the
first half of 2005 to R$ 34.75 billion in the first half of 2006.
The segment Insurance (excluding VGBL) was the second most expressive segment, with technical reserves
amounting to R$ 21.34 billion and representing a 19.7%
increase, against R$ 17.82 billion in the first half of 2005.
The total amount of technical reserves for open pension
funds, R$ 50.87 billion, increased 12.4% in relation to the
previous year, that had amounted to R$ 45.26 billion. The
cause for the R$ 5.61 billion increase, in absolute value,
was mainly by the remuneration applied to the reserves,
than by the premium income, that decreased.
The technical reserves of capitalization contracts increased
10%, R$ 10.82 billion in the first half of 2006, against
R$ 9.84 billion in the first half of 2005. This increase was not
due to the premium income, which stagnated in the period,
but due to the remuneration attributed to the reserves.
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61
Policyholders’ Surplus
R$ thousand
Segments
2006 / 1 half
st
23,022,713
General Insurances
Δ%
Δ%
Life/Personal Accident/Open Pension Funds
10,010,063
27.4%
Life + Personal Accident
2,094,903
Δ%
68.3%
Open Pension Funds
7,915,160
Δ%
19.7%
3,240,881
Δ%
Insurance industry Total
Δ % on last period
11.3%
18,153,707
Mix
56.6%
3,141,292
24.5%
7,855,007
9.8%
1,245,061
24.5%
6,609,946
3.9%
2,938,414
20.6%
100%
32,088,420
12.8%
8.0%
7,378,831
25.9%
1,057,183
3.7%
6,321,648
22.2%
71.1%
9.2%
11.0%
27.5%
2,261,707
7.4%
4.6%
7.9%
56.8%
57.7%
17.8%
19.3%
16,147,313
Mix
42.2%
6.5%
5.1%
2004 / 1 half
st
25.6%
38.9%
10.3%
40,913,719
2005 / 1 half
12.4%
47.7%
Δ%
Capitalization
56.3%
26.8%
4,640,063
Health Insurance
Mix
st
2,647,964
9.3%
(25.3)%
100%
28,435,815
100%
25.4%
In the first half of 2006, the policyholders’ surplus of the
insurance companies amounted to R$ 40.91 billion, an
increase of 27.5% against the R$ 39.02 billion in the first
half of 2005.
The insurance activity (general insurance + health insurance + life and personal accident insurance), was responsible for the 72.7% of the total policyholders’ surplus in
the industry; it amounted to R$ 29.76 billion in the first
half of 2006, against a total amount of R$ 22.54 billion in
the first half of 2005.
Life and personal accident insurances registered a 68.3%
increase, the larger one within the insurance activity, jumping from R$ 1.25 billion in the first half of 2005 to R$ 2.09
billion in the first half of 2006. In absolute value, the increase was of about R$ 850.00 million.
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Following life and personal accident insurances, health insurance increased 47.7%, from R$ 3.14 billion to R$ 4.64 billion.
In absolute value, the increase was of R$ 1.50 billion.
In this same period, general insurances increased 26.8%,
reaching a R$ 23.02 billion policyholders’ surplus in the
first half of 2006, that represented 56.3% of the policyholders’ surplus of the market.
The premium income decrease in open pension funds
entities did not affect its policyholders’ surplus, that increased 20%, going from R$ 6.6 billion in the first half of
2005 to R$ 7.9 billion in the first half of 2006.
In the first half of 2006, the policyholders’ surplus for the capitalization companies amounted to R$ 3.24 billion, an increase
of 10.3% against the R$ 2.94 billion in the first half of 2005.
Open Pension Funds
Contributions
R$ thousand
% (2004/2005)
% (2005/2006)
2006
Period
2004
2005
January
823,912
744,277
-9.67%
603,288
February
614,815
538,500
-12.41%
509,067
-5.47%
March
633,050
583,865
-7.77%
741,091
26.93%
April
569,737
545,802
-4.20%
518,540
-4.99%
May
776,259
607,504
-21.74%
615,049
1.24%
-18.94%
June
709,925
601,181
-15.32%
545,188
-9.31%
Total
4,127,698
3,621,129
-12.27%
3,532,223
-2.46%
PGBL
Contributions
Period
January
2005
2006
335,401
335,104
R$ thousand
%
(2004/2005)
R$ thousand
Period
Total
Reserves
PGBLPMBaC
%
PGBL
-0.09%
June/2005
45,258,648
18,118,011
40%
50,873,637
24,158,448
47%
12.41%
33.34%
February
282,291
270,467
-4.19%
June/2006
March
291,837
398,460
36.54%
%
April
288,005
279,978
-2.79%
May
292,545
337,177
15.26%
June
285,961
281,730
-1.48%
Total
1,776,040
1,902,917
7.14%
Source: SUSEP
Source: SUSEP
The contributions for open pension funds decreased in nearly
all the months during the first half of 2006, in comparison with
the same period for the previous year. March month was
highlighted from the remaining ones due to a 27% increase.
Similarly, contributions to PGBL plans also decreased
during the semester, in comparison with the same pe-
riod of 2005. However, the March and May months, were
highlighted, with an increase of 36.54% and 15.26%,
respectively.
In June, 2006, the accumulated savings amounts for open
pension funds reached R$ 51 billion, with the PGBL contribution amounting to R$ 24 billion.
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63
National
System
of Private
Insurance
Ministry
of Finance
CRSNSP
SUSEP
Insurance
Brokers
CNSP
IRB-Brasil Re
Insurance and Capitalization
Companies, Managers
of Pension Funds
The Federal Government has the power to formulate the policy on
private insurance, to establish its rules and to inspect the operations
in the national industry. Decree no. 73, dated November 21th, 1966,
amended by Laws no. 9.656/98 and n o. 10.190/2001, which govern
insurance operations, instituted the National System of Private
Insurance composed of CNSP, SUSEP, IRB-Brasil Re, and companies
authorized to operate in private insurance and capitalization, open
pension funds and qualified insurance brokers.
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National Council on Private
Insurance (CNSP)
It is the responsibility of the CNSP to establish directives
and rules on private insurance policy in Brazil.
CNSP Composition
CNSP Composition was defined by Decree no. 73/66, later
amended by Law no. 10.190, dated February 14th, 2001.
CNSP is composed of the Minister of Finance, Superintendent of SUSEP and representatives of the Ministry of
Justice, Ministry of Welfare and Social Insurance, Brazilian Central Bank, and Securities Commission.
Amongst the activities that are privative of CNSP, the following are highlighted:
• To establish directives and rules on private insurance policy.
• To regulate the constitution, organization, functioning and
inspection of those entities that exercise activities subordinate to the National System of Private Insurance, as
well as the application of penalties, as foreseen.
• To establish the general characteristics of insurance, open
pension funds, capitalization and reinsurance contracts.
• To establish the general directives for reinsurance
operations.
• To judge the appeals on decisions made by SUSEP and
IRB-Brasil Re.
• To prescribe the constitution criteria for corporate statutes pertaining to the Insurance Companies, Capitalization Societies, Open Pension Funds and Reinsurers,
establishing the legal and technical limits of their respective operations.
• To establish standards for both, the brokerage within
the industry and the insurance broker profession itself.
Appeals Council on the
National System of Private
Insurance, Open Pension
Funds and Capitalization
(CRSNSP)
CRSNSP created by Decree no. 2.824/98, is a collegiate
body which integrates the basic structure of the Ministry
of Finance, with the purpose of judging, at court of last
resort, the appeals on decisions made by SUSEP that
apply penalties, as foreseen in Decree-Laws nos. 73/66
and 261/67 and in Law n o. 6.435/77, now replaced by
Supplementary Law no. 109/2001.
CRSNSP is composed of six members: one representative of the Ministry of Finance, as President; one representative of the SUSEP; one representative of the Secretariat of Economic Right of the Ministry of Justice; one
representative of the Fenaseg; one representative of the
ANAPP; and one representative of the Fenacor. One Prosecutor of the National Finance works jointly with CRSNSP
entitled to defend the exact observance of the laws, decrees, rules and others regulatory acts.
Superintendency of Private
Insurance (SUSEP)
Superintendent: Mr. Renê de Oliveira Garcia Junior
Superintendency of Private Insurance – SUSEP, is the government body in charge of inspecting the insurance industry, open pension funds and capitalization companies.
During the last two years, through participation in CNSP,
SUSEP has promoted a series of changes in the regulation of inspected industry, with the purpose of promoting
the deregulation, self regulation and supervision based
on risks.
Among its policies, defined as the master lines for actions and accepted as un-negotiable elements of the strategic planning may be highlighted:
Protection of Consumer Rights
The main purpose is to defend the transparency and integrity of the contractual relations and to foment actions
and procedures for the combat of insurance fraud.
Amongst the directives of such policy to be followed
are: to ensure transparency in the commercialization of
products and to act jointly with the consumer protection
bodies.
Policy of Market Promotion
It includes the quantitative and qualitative
developement of supervised markets. Amongst the
directives to be followed in such area are: to foment
new products offer based on clear and long-lasting
rules; to search for corporative incentives and favorable taxation, mainly to popular and social products;
and to incentive the long term.
Supervision Policy Based on Risks
Supervision and inspection focused on the risks administration of the companies, protecting their solvency and
economical-financial capacity. For this aim, one of the directives is to monitor the capital adequacy, the operational
liabilities and the quality of the assets.
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67
Regulation Policy
It deals with the consolidation and simplification of the
applicable norms. The purpose is to make current norms
clear and transparent, to promote self-regulation of the
industry, emphasizing the responsibility of its managers
and professionals; to promote deregulation by eliminating the excess of norms and simplifying procedures.
Information Technology Policy
To implement information technology systems for improvement and reliability of the SUSEP‘s decision making process. Highlighted amongst the directives are: to act jointly
with the industry aiming at unifying the database and useful
information to the activities of supervision and inspection,
and to use digital certification as a control tool and the safe
exchange of information between the industry and SUSEP.
Special Regimes Policy
To give agility and transparency to the settlement procedures, tax direction and intervention. The proposals are the
following: to review the legislation, to unify the procedures,
to improve and to update the monitoring and control routines applied to the companies under special regimes.
Specific Actions Policy
To develop norms in order to provide the portability and
migration between open pension funds; to promote the
“shielding” of technical reserves assets; and to stimulate
and to make viable the offer of “popular products”.
It is important to mention that SUSEP has intensified its
participation in the International Association of Insurance
Supervisors (IAIS), and the parameters suggested by such
Association, specially the so called Core Principles, are
being used by SUSEP as a reference for implementation
of the new internal norms and practices.
Also within this context, Mr. Renê Garcia Júnior, Superintendent of SUSEP, was elected, recently, President of the Association of Insurance Supervisors for the Latin America (ASSAL).
Thus, during the years 2004 and 2005, and considering the
participation of private representatives by means of open
courts, several norms were published with regard to the
following: (i) minimal procedures for the consumer service
and creation of ombudsman’s services; (ii) internal controls; (iii) risks management; (iv) consumer service; (v) technical certification for the employees of insurance companies and brokers; and (vi) procedures for accounting audit,
internal and actuarial controls, among others.
In the other hand, a series of norms that were not already in
accordance with the current legal system are being revoked
by means of a work, whose purpose is to simplify and make
more efficient the governmental body regulatory action.
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IRB-Brasil Re
President: Mr. Eduardo Hitiro Nakao
Focused on the opening of reinsurance market, Mr. Eduardo
Nakao, the new President of IRB-Brasil Re, since March,
2006, works to prepare IRB to operate in different situations:
as the company that has the monopoly on reinsurance in
Brazil, by the analysis regarding to the writing, or not, of
reinsurance operations ceded by insurance companies in
the Country, or in a competitive environment, always seeking to assure a steady return to shareholders and improving
the relationship with the insurance companies.
Amongst the initiatives adopted by IRB, it is possible to
view and to mention some of them occurred in the second quarter, 2005 and in the beginning of 2006.
• The constant modernization of the operations performance procedures.
• The seeking for result based on safety in the investments
of reserves.
• The decision processes computarization.
• The performance of public competitive examinations to
renew and to amplify the staff of the company.
• The offering of facultative internal retrocession within the
Property Risks portfolio, which may be extended to other
branches.
• The creation of a Compliance Management to identify
procedures and routines that involve the company
operations.
According to Mr. Nakao, IRB-Brasil Re faces the challenge
to be prepared as an efficient and competitive company
in any situation, including before the new regulation that
will result from the approval of the Bill no. 249/2005, which
establishes provisions in respect of the policy for reinsurance, insurance syndicating, retrocessions operations and
insurance placement with foreign insurers.
Insurance Companies,
Open Pension Funds and
Insurance Companies
The Brazilian insurance industry is composed of stock insurance companies incorporated under Law no. 6.404/1976
and Law no. 10.303/2001.
Insurance companies may be authorized to carry on nonlife insurance business, life insurance business, or in both.
Insurance companies that are authorized to operate
exclusively in life insurance can also commercialize pension
funds, as set forth by Complementary Law no. 109/2001.
The insurance companies must be specialized to operate in
health insurance, as outlined in Law no. 9.656/98.
The authorization for companies to carry on insurance business is granted by Minister of Finance after the analysis
by the Superintendency of Private Insurance (SUSEP) or
by the National Agency of Supplementary Health (ANS),
in the case of companies specialized in health insurance.
In 2005, 131 insurance companies were carrying on general and life insurance business and open pension funds,
and 12 specialized insurance companies were carrying
on health insurance business.
Open Pension Funds Managing Entities
(EAPCs)
The Open Pension Funds industry is operated by insurance companies authorized to carry on life insurance business and open pension funds managing companies, as
set forth by Complementary Law no. 109/2001. Entities that
have been formed as non-profit organizations to manage
open pension funds, in accordance with Law no. 6.435/77
may keep their legal structure. The authorization for operation is granted by the Minister of Finance after analysis by the Superintendency of Private Insurance (SUSEP).
Operations with annuities plans and pension funds are
within the scope of such authorization.
In the year of 2005, 30 insurance companies authorized to
operate in life insurance, operated open pension funds.
Similarly, 27 non-profit open pension funds managing entities operated these funds.
The capitalization industry is operated by capitalization companies incorporated under the form of limited liability corporations, with nominative shares. The authorization for functioning is granted by the Minister of Finance after analysis
by the Superintendency of Private Insurance (SUSEP).
In 2005, 20 capitalization companies commercialized capitalization securities.
Supplementary Health
The regulation of supplementary health insurance in Brazil
demanded that insurance companies that were already
carrying on health insurance business had to transform
themselves into specialized insurance companies, being
subject to a new regulatory and supervisory body under
the Ministry of Health, together with other all operators of
other kinds of private health plans.
Ministery of Health
(1)
Chamber of
Supplementary
(4)
(3)
○
○
○
(2)
○
○
CONSU
ANS
(5)
Specialized
Health Insures
Relationship
(1) Link
(2) Regulatory
(3) Consultative
(4) Deliberative
(5) Regulation and Inspection
Council on Supplementary Health
(CONSU)
Created by Law no. 9.656/98 and later amended by Decree no. 4.044, dated December 6th, 2001, CONSU is a
collegiate body member of the regimental structure of the
Ministry of Health, composed of the Minister of Justice –
who presides over it, the Minister of Health, the Minister
of Finance and the Minister of Planning, Budgeting and
Administration, and also by the President of ANS, who
acts as Secretary in the meetings. The activities under
the power of CONSU are the following:
1.To establish and to supervise the implementation of the
policies and directives for the supplementary health insurance.
2.To approve the administration contract of ANS.
3.To supervise and to monitor the actions and operations
of ANS.
4.To establish general directives for the constitution, organization, operation and supervision of the companies
operating products that Law no. 9.656/98 deals with.
5.To decide on the creation of technical chambers of
consultative nature, so as to assist the Council on
its decisions.
National Agency of Supplementary
Health (ANS)
President: Mr. Fausto Pereira dos Santos
Created by Law no. 9.961, dated January 28th, 2000, ANS is
a government body under special regime, subordinate to
the Ministry of Health. The ANS’s mission is to promote the
defense of public interest in the supplementary healthcare,
regulating the sector operators, including as to their
relationship with service providers and consumers, thus
contributing to the development of the health actions in the
country. Amongst its duties, the following are highlighted:
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69
• To propose general policies and directives to the National Council on Supplementary Health – CONSU, to
regulate the supplementary health sector.
• To establish parameters and indicators of quality and
coverage in healthcare for its own and third parties services offered by the operators.
• To establish norms for reimbursement to the Unified
Health System (SUS).
• To define the conceps for preexistent disease and lesion.
• To define, for the purposes of the application of Law
no. 9.656/98, the segmentation of operators and administrators of private healthcare plans, taking into consideration their peculiarities.
• To decide on the establishment of sub-segmentation of
the kinds of plans defined in items I to IV of Article 12 of
Law no. 9.656/98.
• To authorize readjustments and revisions of the pecuniary counter installments of the private healthcare plans
in accordance with the general parameters and directives established jointly by the Ministry of Finance and
the Ministry of Health.
• To establish norms and procedures for the sending of information of economical-financial nature by the operators,
aiming at the ratification of readjustments and revisions.
• To inspect the activities of the operators of private
healthcare plans and to defend their compliance with
the regulation.
• To articulate with the bodies of consumer defense aiming at the efficacy of the protection and defense of the
consumer of private healthcare services, taking into consideration the set forth by Law no. 8.078, dated September 11th, 1990.
Chamber of Supplementary Health
The Chamber of Supplementary Health is a consultative
body, with the main purpose of promoting the discussion
of themes relevant to the supplementary healthcare sector in Brazil, apart from giving support to the decisions of
CONSU and ANS. The Chamber of Supplementary Health
is composed of the following members:
I – The Director-President of ANS, or his deputy acting
as President;
II – A Director of ANS, acting as Secretary;
III – A representative of each Ministry, as below:
• Finance.
• Pension Funds and Social Welfare.
• Labour and Employment.
• Justice.
• Health.
IV – A representative of each body and entity, as below:
• National Council on Health.
• National Council of State Secretaries of Health.
• National Council of Municipal Secretaries of Health.
• Federal Council on Medicine.
• Federal Council on Dentistry.
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• Federal Council on Nursing.
• Brazilian Federation of Hospitals.
• National Confederation of Health, Hospitals, Establishments and Services.
• Confederation of the Santas Casas de Misericórdia,
Hospitals and Philantropic Entities.
• National Confederation of the Manufecturing Industries.
• National Confederation of Commerce.
• Trade Association Central Única dos Trabalhadores.
• Trade Association Força Sindical.
• Trade Association Social Democracia Sindical.
V
•
•
•
•
•
•
•
•
•
– A representative of each entity, as below:
Consumer Defense.
Consumers Associations of private healthcare plans.
Self management healthcare segment.
Group medicine companies.
Cooperatives of medical services that operate in supplementary health.
Group dentistry companies.
Cooperatives of dental services that operate in supplementary health.
Entities for the handicapped and persons with special
pathologies.
National Federation of Private Insurance and Capitalization Companies (Fenaseg).
Specialized Health Insurers
With the approval of Law no. 9.656/98, which regulated
the supplementary health sector in Brazil and created
CONSU – Council on Supplementary Health, and Law no.
9.961/00, which created ANS – National Agency of Supplementary Health, it became necessary to equal the health
insurance operations to the private healthcare plans so as
to adjust such operations to the legal requirements.
Law no. 10.185, dated February 12th, 2001, classified the health
insurance as a private healthcare plan, and the insurance
company specialized in health insurance as an healthcare
plan operator, for the purposes of Law no. 9.656/98.
It was determined for the insurance companies that were already operating with health insurance in 2001 that they should
provide specialization by July 1st, 2001, when those companies
would be under the jurisdiction of CONSU and ANS.
With the advent of the RDC no. 65/01, ANS regulated such
segment, and, where applicable, the companies specialized in health insurance became subject to the norms
of SUSEP and CNSP published before December 21 th,
2000, whose matters had not been regulated by ANS
and CONSU.
In 2005/2006, the following health insurance companies
operated in the industry:
•
•
•
•
•
•
•
•
•
•
•
•
AGF Saúde S.A.
Bradesco Saúde S.A.
BrasilSaúde Companhia de Seguros
Itauseg Saúde S.A.
Marítima Saúde Seguros S.A.
Notre Dame Seguradora S.A.
Porto Seguro - Seguro Saúde S.A.
Salutar Saúde Seguradora S.A.
Sul América Companhia de Seguro Saúde S.A.
Sul América Seguro Saúde S.A.
Unibanco AIG Saúde Seguradora S.A.
Unimed Seguros Saúde S.A.
Reinsurance
The Opening of the Brazilian
Reinsurance Market
Chronology of the facts:
On August 21th, 1996, the Brazilian National Congress
approved the Constitutional Amendment (EC) n o. 13,
through which the reinsurance monopoly was extinguished
in Brazil, until then delegated exclusively to IRB. With this
constitutional amendment, the opening of reinsurance
market became a legal requirement, not only because EC
no. 13/96, but principally because of the mandatory principles on the Federal Constitution, specifically in item IV
of Article 1 that proclaims the free initiative as one of the
six fundamentals of the Republic, in Article 170 that establishes the principle of free initiative and competition,
and in Article 177 that lists, restrictedly, the monopolies
of the Union.
One year later, on June 17th, 1997, by the Provisional Measure n o. 1.578 IRB was transformed into IRB-Brasil
Resseguros S.A., a joint shareholder company, remaining as mixed public and private company, with the Union
as the controlling shareholder. The same proportion of
50% of stock for national insurers was maintained.
Also in 1997, by Decree no. 2.423, dated December 16th,
1997, IRB was included in the National Program of
Privatization (PND), under the authority of the National Bank
for Economic and Social Development (BNDES), consisting of the Letter of Intentions from the Brazilian Government to the IMF in November, 1998.
Law no. 9.932/99, enacted on December 20th, 1999, transferred the power to control and inspect the reinsurance
operations in Brazil to SUSEP, making viable the
privatization of IRB and the consequent opening of the
reinsurance market.
The public announcement of the privatization of IRB, at
the beginning of 2000, marked the beginning of the reac-
tion against the end of the state monopoly. In June, 2000,
the Labour Party (PT) filed a suit of Unconstitutionality
(ADIN) no. 2.223-7 with the Supreme Court (STF), arguing
that the matter related to the regulation of the National
Financial System, what, under the terms of Article 192,
could only be made by a Supplementary Law to the Federal Constitution.
In this suit the reporting judge granted a preliminary order, attested by the Plenary of STF, suspending the effects of the aforementioned law until final judgement of
the ADIN. As a result of such decision, the auction of
IRB-Brasil Re and the opening of the reinsurance market
came to a stop.
On May 29th, 2003, the Constitutional Amendment no. 40
was approved, which permitted that the regulation of the
National Financial System mentioned on Article 192 may
be made by parts. In view of such definition, each segment of the National Financial System may be regulated
by a specific Supplementary Law.
In July, 2004, during the procedure steps of the ADIN,
the opinions of the Attorney General Office established
that the profound changes in the meaning of Article
192 of the Constitution made by Constitutional Amendment n o. 40/2003, would have set aside the need for
Supplementary Law, which would entail the loss of
the ADIN purpose.
Considering that the Labour Party did not offer any response during the period stipulated for pronouncement,
the court records were sent to the Reporting Minister for
decision regarding on the matter.
Such opinions were accepted by STF, the suit was closed
due to loss of object, which meant the extinction of the
ADINs, with the elimination of the obstacle for implementing the changes introduced by Law no. 9.932/99.
However, the Federal Government concluded that there
are doubts as to the constitutionality of the aforementioned
Law, deciding, in May, 2005, to propose to National Congress, the Bill no. 249/2005, which represents the new
regulatory mark for reinsurance in the Brazilian market.
In January, 2006, the aforementioned Bill was submitted
to the Committee on Economic Development, Industry
and Commerce of the House of Representatives, whose
reporter, Deputy Nelson Marquezelli, prepares the first
substitutive.
In April, 2006 the Bill was sent to the Committee on Finance and Taxation and the reporter, Deputy Francisco
Dornelles, presents its second substitutive.
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71
In June, 2006, the petition for directing the Bill no. 249 was
signed, with utmost urgency, therefore permitting it to be
voted in the House of Representatives.
Such measure allowed to the Brazilian insurance industry
to protect and to profound the way of its so expected
institutional new definition, a primordial step to its modernization, as a form to adjust it to the needs of a diversified economy, dynamic and in free development process.
Reinsurance companies
At the beginning of 2001, 18 representative offices of foreign reinsurers worked in Brazil awaiting the opening of
the Brazilian reinsurance market. In 2004, only 8 companies remained in the country, but restricting their local investments, technical and administrative staff.
During the last years, the non-definition as to the term for
the opening of the reinsurance market did not stimulate the
permanence of the foreign reinsurers in Brazil. Nevertheless, in face of the Bill no. 249, the interest of these companies in the Brazilian reinsurance market is again noted.
In 2006, Transamérica Re formed a representative office
in Brazil, amplifying to 9 the number of reinsuers with
representative office in the country, as described below:
Reinsurance companies
1.
2.
3.
4.
5.
6.
7.
8.
9.
72
American International Underwriters - AIU
Converium Re
Mapfre Re Assessoria Ltda.
Munchener do Brasil Serviços Técnicos Ltda.
Scor Brasil
Swiss Re Brasil Serviços e Participações Ltda.
Transamerica Re
Transatlantic Re
XL Latin American Re
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Insurance Brokers
Insurance brokers are organized into state trade associations affiliated to the National Federation of Insurance Brokers (Fenacor). There are currently, 73.653 insurance brokers registered as active, being 53.050 natural persons
and 20.603 legal entities.
The insurance broker, being natural person or legal entity,
acts as authorized intermediary to solicit and to promote
insurance contracts between the insurance companies and
the natural persons and legal entities of private law, being qualified to intermediate insurance in the elementary
sectors and in life and capitalization plans, and in open
pension funds. The exercise of the profession of insurance broker depends on the previous qualification and
registration. Such qualification is obtained through examination for Insurance Brokers, administered by the National
Insurance School Foundation (FUNENSEG), in accordance
with CNSP Resolution no. 081/2002 and SUSEP Circulars
nos. 127, 140 and 146, all of them dated 2000.
The registry for the life insurance, capitalization and pensions broker is done by indication of the managers of the
insurance and capitalization companies, or open pension
funds, amongst candidates approved in the qualification
examination promoted by FUNENSEG, or in specific evaluation tests by discipline applied to the participants of the
qualification courses held according to CNSP Resolution
no. 081/2002 and SUSEP Circular no. 177/2001.
From the year 2002, the periodical re-registering of the
brokers was established, being applied to the insurance
brokers, and to the life insurance, capitalization and pensions brokers, the periodicity of which will be 3 years,
being regulated by SUSEP Circulars nos. 202, 207 and 222,
all of them dated 2002.
Source: Fenacor web site: www.fenacor.com.br.
Fenaseg
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GEINV
Paulo Amador
GESNG
Terezinha Soares
Law
Enforcement
Management
GEARE
GEINF
Administration of
the Information
Management
Therezinha Vollú
Protection to Insurance
Directorate
Neival R. Freitas
DISEG
Capitalization Directorate
Neival R. Freitas
DICAP
Directorate
Horacio Cata Preta
Prevention,
Communication and
Education Actions
Management
Elizabeth
de Santiago
GEAPE
Protection to Insurance
Council
CONSEG
SISEG Management
Paulo Araripe Jr.
GERSI
GERIN
Institutional
Relations
Management
José Carlos
Carvalho
Center of Dev.
and Implem. Categories
3 and 4
Claims Auditing
Management
DIPRO
Cristina Grasso
Claims
Management
Ângela Amparo
Technical
Superintendency
Márcio Norton
DPVAT Convention Categories 3 and 4
Directorate
Mário Waichenberg
Legal Advisory
DPVAT Ombudsman’s
Service
Finance
Management
SNG Management
Ricardo Romeiro
Luiza Rangel
Attendance
Management
Isabel C. Cardoso
Adm. and Finance
Superintendency
Investigations
Management
Mário Viola
Cynthia Cupolillo
Legal
Management
Regina Farias
DPVAT Convention
Operations Directorate
José Carlos B. Tozzi
Council of Rep. of
DPVAT Convetion
DPVAT Convention
Directorate
Rubens dos S. Dias
DICOD
Organization Chart
President Advisory
Suzana Munhoz da Rocha
ASPRE
Political Affairs
Consulting
Fabiano Campelo
COPAR
CONSE
Special Consulting
José Arnaldo Rossi
Press Consulting
Geraldo Bolda
COIMP
Senior Legal Consulting
Salvador C. V. Pinto
COJUR
SECRE
General Secretary
of the President
Sérgio Duque Estrada
Directorate
DIRET
PRESI - The President
CONRE
Council of Representatives
GERAD
Administrative
Management
Paulo Cezar
Carvalho
Advisory
Ãngela Cunha
ASCOM
GEJUR
Legal Management
Paula Guitton
Legal Advisory
Glória Faria
ASJUR
Juscenira Oliveira
Luiz Mendonça Libary
Assistant for Events
and Publications
Leila Pontes
Aspev
Control
Management
Cláudia Andrade
GECON
GERTI
Administration of
the Information
management
Hélio Silva
DIAFI
Administrative and
Finance Directorate
Ronaldo Youle
DIVID
GERHUM
GERFI
Financial
Management
GEVID
Life Insurance Management
Beatriz Herranz
ASINT
International Affairs Advisory
Izamar Nogueira
GERAT
Actuarial and Economic
Affairs Management
Joel Gomes
GETEC
Technical Management
Glória Aranha
ASTEC
Technical Advisory
Ricardo Moraes
GERAC
Governmental Affairs
Danuzia Pinheiro
GEBRA
Brasilia Office Management
Heloísa Vilela
Human Resources
Management
Maria Helena
Baptista
Life Insurance Directorate
Luiz Peregrino
DISAU
Health Insurance Directorate
Solange Beatriz P. Mendes
Motor Insurance and
Institutional Affairs Directorate
Ricardo Xavier
DIAUT
General insurance and
Reinsurance Directorate
Maria Elena Bidino
DIRER
DIREG
Directorate
Antonio Mazurek
CONSU
Consultative Council
Fenaseg – National Federation of Private Insurance and
Capitalization Companies, with Head Office and domicile
in the City of Rio de January, is a trade association of
higher degree for the purposes of study, coordination, protection and legal representation of economic categories
of private insurance, capitalization and open pension funds.
Founded on June 25th, 1951, by the assembly of delegates
of five insurance trade associations – Bahia, Minas Gerais,
Rio de January and São Paulo, aim at promoting the orderly and efficient development of these industries, defining and defending their rights and politically representing
the class. Officially recognized on November 30th, 1953,
its net worth is made by the contributions from its member companies, contributions from the trade associations
and financial or real state revenue.
Fenaseg currently congregates the 8 Regional Trade Associations of Private Insurers established in the States of
Bahia, Minas Gerais, Paraná, Pernambuco, Rio de January, Rio Grande do Sul, Santa Catarina e São Paulo, and
132 companies operating in the insurance industry, organized as the following: 104 insurance companies, being
25 also operating with open pension funds; 16 capitalization companies; and 12 insurance companies specialized
in health insurance, which represent 99.8% of the premium volume from these markets.
Basic Functions
According to the new levels of return reached by the
national economy, the operative areas multiply where
the presence, vigilance and activity make demands on
the coordinative and representative attributions of
Fenaseg. Aligned with its purpose of promoting the
orderly and efficient development of these markets,
defining and defending its interests, Fenaseg politically
also represents the productive sector which today is
one of the principal contributors to the economic and
social growth of Brazil.
As such, Fenaseg carries out the following proposals for
action and purposes:
• To promote and to defend the institutions of private insurance, capitalization and open pension funds.
• To represent its members companies before the government authorities.
• To collaborate with the Government in the study, preparation of laws and solutions related to the respective
economic classes.
• To promote conciliatory agreements in labour disputes
and to sign contracts and agreements.
• To appoint the representatives of member companies
for participation in events that deal with matters related
to their activity.
• To maintain consultancy and advisory services for its
affiliates and to develop technical studies and to prepare proposals concerning to the market interest, notably with respect to the deregulation of the sector and
the flexibility of the monopolies.
• To promote harmony between its members companies, helping to solve the divergencies that occasionally may arise.
Events
Held by Fenaseg and by Trade Associations
of Private Insurance and Capitalization
Companies – 2005
June
Accounting International Norms
In a partnership with FUNENSEG, this event was held
on June 13 th at the FUNENSEG’s Cultural Space, with
the purpose of discussing the new Accounting International Norms. The event counted on the participation of the lecturers, Mr. Joachim Kölschbach, from
Germany, and Mr. Nicolas Olea Zazueta, from Mexico,
apart from the intermediation of the some Brazilian professionals, with big projection within the market. At
that opportunity, were published the books “Insurance
Operations Accounting Practices”, by Mr. Josemar
Costa Silva and “Insurances’ Accounting”, by Mr. Jorge
Andrade Costa.
Meeting SUSEP
T h i s e v e n t w a s h e l d o n J u n e 2 4 th a t t h e C l u b e
Americano, in Rio de January, and gathered the Presidents of Insurance Companies, Presidents of Insurance Trade Associations, President and Directors of
Fenaseg, President and Directors of SUSEP, for the
elaboration of the strategic plans for the development
of the market.
July
Workshop – Ombudsman’ Services Recognized
by SUSEP
This workshop was held on July 1st at the Fenaseg’s Auditorium, and was restricted to the Ombudsmen of Insurance Companies and to the Director of SUSEP, for the
exchange of experiences about the ombudsman’s services
applied to the insurance companies.
Capitalization Workshop
This workshop was held on July 6th at the Fenaseg’s Auditorium. The event was opened by the President of the
Committee on Capitalization of Fenaseg, Ms. Rita Batista
and had a lecture given by Dr. Sidney Saraiva Apocalipse,
from Stroeter e Royster Advogados.
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Technical Certification
Held on July 12 at the Fenaseg’s Auditorium, in Rio de
January, and on July 14 th at the Insurance Trade
Association’s Auditorium in São Paulo, Fenaseg and
ANAPP presented to their associated companies the Technical Certification Program, based on the Resolution no.
115/04 and on the SUSEP Circular no. 290/05.
th
August
Lecture to Communication Consultants
Promoted in Rio de January by the Social Communication
Advisory Services on August 4th at the Fenaseg’s Auditorium, this lecture had the purpose of discussing the relationship between the sector and the press, in order to
improve, more and more, such relationship. The special
invited, Mr. Luís Nassif, a journalist from the newspaper
Folha de São Paulo, talked to about 30 communication
professionals of the main insurance companies and trade
associations of the market. The marketing consultant,
Mr. Sérgio Reis, was also present at the event and talked
about the importance of the communication of the entities of the sector, mentioning the positive points and about
what can be improved.
Workshop regarding to “CNSP Resolution
no. 117/2004 and the Open Court no. 03/2005”
Held on August 4th, the event counted on the great participation of the market and was promoted by the Technical
Committee on Life Insurance of Sesmig. The lectures were
given by Mr. Luiz Peregrino Vieira da Cunha, Director of
Fenaseg, and by Mr. Sérgio Canesso Viegas, Manager
for Life and Open Pension Funds of Minas Brasil Seguros.
Seminar on General Civil Liability
Held on August 25th at the Insurance Trade Associations of
of São Paulo, the seminar counted on the participation of
Dr. Ricardo Bechara, President of the Committee for Legal
Issues of Fenaseg, Mr. Sérgio Narciso, of Bradesco Seguros
S. A., Ms. Sílvia Gadelha, of Itaú Seguros, and Mr. Renato
Rodrigues, of Chubb do Brasil. This seminar had the purpose of discussing the new sceneries of the segment.
Lecture on Motor Insurance
This lecture was held on August 25th at the Sesmig. The
lectures were given by Ms. Ângela Amparo, Technical
Superintendent of DPVAT Convention, who talked about
DPVAT claims attendance service and Mr. Luiz Alberto
Pomarole, President of the Technical Committee for Motor
Insurance of Fenaseg, who talked about the growth challenges of the portfolio.
Insurance IT Meeting – Information Technology
Actions for 2006
Held at the Hotel Portobelo, in Angra dos Reis, from August 26th to 28th with the purpose of promoting the integra-
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tion amongst the Companies of the Committee on IT of
Fenaseg, that do not take part in the Committee, CEOs of
the companies, SUSEP, relative entities and suppliers. The
event was held with the support of the IT services provider
companies – Gedas do Brasil, Sysmap, MicroStrategy,
Contraste, Audatex, 3COM, Serasa and Quality.
September
Seminar of the Reinsurance Industry in Brazil –
Reinsurance International Centers
Held on September 12th at the Stock Exchange Conventions Center of Rio de January, this seminar informed and
discussed the Creation of the International Reinsurance
Center in Rio de January, and counted on the presence of
the following lecturers: Mr. José Américo Peón de Sá, of
Fenaseg, Mr. James Sutherland and Mr. Yael Chen, of the
Lloyd’s of London, Mr. João Marcelo Máximo dos Santos,
Director of SUSEP and Mr. Marcos de Barros Lisboa, President of IRB Brasil Resseguros S. A.
Seminar on Frauds in Life and Personal Accident
Insurance Coverages
Held on September 14th in Rio de January, this seminar
had the purpose of promoting the reflection, changing
ideas and searching for alternatives for the frauds occurrence within this segment. The lectures were given by
renowned professionals within respective segment.
Law Sarbanes-Oxley – What has really changed?
Held on September 15th in São Paulo, this event discussed
and analysed the duties and traditional responsibilities in
the USA of directors and counselors in counterpoint to the
new requirements of the Law Sarbanes-Oxley. The event
also dealt with the universe of the Corporative Governance.
The lecture was given by the north-american lawyer, Mr.
Richard Strasser.
Studies on the Law of Insurance Companies
Liquidation
This event, presented by Mr. João Elisio Ferraz de Campos, President of Fenaseg and Mr. Renê de Oliveira Garcia
Junior, Superintendent of SUSEP, was held on September
16th in Rio de January, with the purpose of discussing the
Law of Extrajudicial Liquidation of the insurance and capitalization companies, and the open pension funds. The
lectures were given by Mr. Eliezer Tunala, Mr. Paulo Penido
and Mr. João Marcelo Máximo dos Santos, of SUSEP, Mr.
Aloísio Araújo, of FGV, Dr. Renato Mandaliti, of Demarest
e Almeida Advogados, and Mr. Jairo Saddi, of IBMEC.
Port Operators Comprehensive Insurance
Event held on September 20th, in Santos, São Paulo, and
on September 29th, in Vitória, Espírito Santo, in a partnership amongst Fenaseg, FUNENSEG, SUSEP, IRB and
Fenacor, with the participation of several laywers, con-
sultants, and representatives of SUSEP, insurance industry and IRB. At that opportunity, the main themes related
to the operations in Brazilian ports and to the underwriting based on the new standard issued by SUSEP were
discussed.
Meeting International-Legal of Insurance
This meeting was held on September 22th, in Rio de January, in a partnership amongst Fenaseg, FUNENSEG and
AIDA. Renowned jurists attended to the event and presented their points of view regarding to the several matters of legal universe in Europe.
stands, international lecturers and the most renowned
national lecturers.
Lecture “Civil Liability and Civil Liability
Insurance”
Lecture held on November 17th, 2005 at the Sesmig, was
given by Dr. Sérgio Barroso de Mello, followed by an ample
discussion about the theme.
Rural Insurance – Spanish Mission
Event held on November 23th in Rio de January, for the members of Rural Insurance Committee, with the purpose of
discussing the structure of the Spanish Rural Insurance.
Seminar on Civil Liability
This seminar was held on September 22th, at the Hotel
Bourbon, promoted by FUNENSEG in a partnership with
the Sindiseg/Paraná and Sincor/Paraná.
Events held with the
Support of Fenaseg – 2005
October
Capital Allocation within the Insurance Industry
– A Perspective of the Reinsurer
Fenaseg supported events of other segments, given continuity to its institutional marketing policy implemented since 2003.
The event was held in Rio de January on October 7th and
counted on the lecturers, Mr. Franz Wettach and Mr.
Salvatore Orlando, of Partner Re, that presented and discussed the need to perceive the whole spectro of the insurance industry functions, emphasizing the benefits of
the underwriting and the business duty of manage the
capital effectively.
XX Hemispherical Insurance Conference of the
Inter-American Federation of Insurance
Companies – FIDES
Held on October 23rd to 26th in Caracas, Venezuela.
Workshop “The Rendering of Previous
Inspection and Losses Adjustment Services
for Motor Insurance”
Held on October 27 , this workshop was promoted by the
Technical Committee of Motor Insurance of Sesmig. As
lecturers, Mr. Lindolfo Afonso Ribeiro, Manager of Delphos
in the Minas Gerais, Mr. Marcelo Fountolan, Commercial
Manager of Linces, Mr. Paulo Eduardo Freitas Botti, Director of Revisar, and Mr. Paulo Artur Gonçalves Fleury, Director of Renavem have participated. The discussed themes
were, respectively: Delphos at the Previous Inspection
Vanguard; The Standadization as a Tool for the Fraud Inhibition: The Motor Loss Adjustment; The Market Requirements x The Previous Inspection’s Professionalizing.
th
November
3rd Brazilian Conference on Insurance,
Reinsurance, Private Pension and Capitalization
– Conseguro
Event held in São Paulo, from November 8 to 11 , counted
on the participation of one thousand visitors, with seven
th
th
June
XV Exhibition of Information Technology of the
Financial Institutions – CIAB 2005
The conference took place at the Transamérica Expocenter in
São Paulo, from June 15th to 17th. Fenaseg participated in the
exhibition with a stand, focused mainly on the promotion of
the National System of Liens and the institutional publications.
1st International Congress on Qualification and
Accreditation of Health – ONA
The congress took place in São Paulo, from June 16th to
17th. The implemented actions were the Fenaseg’s trademark on the promotional materials of the event and distribution of its publications.
July
Highlights of the Insurance Industry – 2004
The seminar was organized by Leopoldina Juvenil, in Rio
Grande do Sul on July 22th. Implemented actions: Fenaseg’s
trademark on the materials, institutional message during
the event and institutional banner at the auditorium hall.
August
XV FENABRAVE Congress
Congress held in São Paulo, from August 25th to 27th. The
implemented actions were the Fenaseg’s trademark put on
the back part of the main auditorium’s seats, distribution of kits
with Fenaseg’s publications, and link at the Fenabrave’s site.
Reinsurance Training Program – A Partnership
with FUNENSEG
The event was held at FUNENSEG – São Paulo from August 28th to September 6th. Fenaseg contributed with the
promotion of the training program.
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September
International Congress – Customer Defense Code
The congress took place in Gramado – Rio Grande do Sul,
from September 7th to 10th. Implemented actions: Fenaseg’s
trademark on the promotion materials, signalizing on the
event site and distribution of institutional material.
Insurance Industry Highlights Party
Event held on September 13th, in Rio de January. Implemented actions: Fenaseg’s trademark on the promotion
on the materials and on the special edition of the CVG-RJ
– Magazine, apart from the institutional banner.
V International Seminar of Governamental
Purchasings
The seminar took place in Belo Horizonte, from September 14th to 16th. Fenaseg contributed promoting the event
through its mailing list.
Lecture Competitive São Paulo – Measures
announced by the Governor, Mr. Geraldo Alckmin
Lecture held on September 15 , at the Palácio dos
Bandeirantes, in São Paulo. Fenaseg contributed promoting the event through its mailing list.
th
Qualifying Course – Arbitration – Solutions on
Business Conflicts
Oswaldo Continentino de Araújo, as a Patron. At that
opportunity, the Technical Consultative Council of the
CBMAE Insurance Industry National Chamber took office.
26th Congress on Pension Funds
Congress held from October 25th to 28th, in Rio Grande do
Sul. Fenaseg promoted the event through its mailing list.
November
Exhibition Territories Transitories –
The Brazil’s Year in France
The event was organized by the Pernambuco Government
and the Recife City Hall, and held on November 15th at the
Palais de La Porte Dorée, in Paris, France. The exhibition was
held with the support of Fenaseg and the Sindiseg/PE, with
a banner showing the institutions’ trademarks at the Palace
Entrance Hall, by the side of the Pernambuco State Government and the Funcultura’s trademarks (Fund for the Culture
Incentive of the Pernambuco State Government).
IV Ethics in the Health Sector Industry
The event was organized by the Mutual Association of
Judges in Bahia from November 17th to 20th, and its program was based on lectures, distribution of the Fenaseg’s
Guides, Annual Report, Social Balance, Insurance Activity
and institutional folder, as well as the banners.
The Course was organized by Fórum Livre Treinamento
Empresarial, at the British Council, in Jardim Botânico –
Rio de January, and held from September 19th to November 7th, where Fenaseg participated with institutional support, promoting the event through its mailing list.
Events organized by Fenaseg and Trade
Associations of Private Insurance and
Capitalization Companies – 2006
XXVI ACREFI Congress
The event, promoted by the Committee on Insurance
Medicine Science, in Itaipava – Rio de January, was held
from January 6th to 8th, with the purpose of testing the IPA/
IPD model and adjusting the event program, which was
held afterwards for the market.
Congress held from September 22th to 25th, in Rio de January. Implemented actions: Fenaseg’s trademark on all
material of the event, six free subscriptions, institutional
material within the folder of the event and stand to promote the publications.
October
ANSP Award – 2005
Event held on October 5th, at the Palácio dos Bandeirantes,
in São Paulo, where Fenaseg promoted the event through
its mailing list.
January
Functional IPA/IPD Immersion
Circular DIRER 008/2006 – Domestic
Retrocession Offer
The event took place at the Fenaseg’s Auditorium on January 23th, with the purpose of presenting the structure of
the Domestic Retrocession Program to the market.
XIV Brazilian Congress of Insurance Brokers
Lecture Directions and Perspectives for the
Insurance Industry in 2006
Congress held from October 12th to 14th, in Maceió. Fenaseg
supported the Congress with the assembly of the stand to
promote the institutional publications during the event.
The lecture was organized by Sindiseg/PE on February
3rd, and was given by the Director of Motor and Institutional Affairs, Dr. Ricardo de Sá Acatauassú Xavier.
Lecture on “Mediation and Arbitration Qualifying
– Emphasis in Insurance”
March
Lecture on the Treatment of the Environmental
Liabilities
The event was held on October 20th with the support of
Sesmig and other industry’s entities, having Dr. Alberto
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This event was held on March 21th at the Trade Associa-
tions of the Insurance Companies of São Paulo, and the
lecture was given by Mr. Richard Strasser, that analysed
and discussed the following themes: Environmental Liabilities and their Know-how in the USA; The Civil Liabilities of the Companies – Law CERCLA; Pollution and
Hazardous Substances; The ADR Usage; The Use of
“Class Actions”; and the Insurance Companies Role in
the Risks Managing.
Seminar The New Norms for the Life and
Personal Accident Insurances
Held on March 29 th in Curitiba, at the Hotel Bourbon,
FUNENSEG promoted the seminar in a partnership with
the Sindiseg/PR and the Sincor/PR, with approximately
400 participants. The lecturer was Mr. Luiz Peregrino, Director of the Committee for Life and Personal Accident
Insurances of Fenaseg.
II Debates Forum – New Rules for the Life and
Held on March with the support of SUSEP, this forum was
organized jointly with the Trade Association of São Paulo
Insurance Brokers.
Workshop: Cargo Theft and Risks Management
within Cargo Insurance
This workshop was held on March 30th and promoted by
the Technical Committee on Cargo Insurances of the Trade
Association of Minas Gerais. The following were the
themes: The Risks Management as an Underwriting Tool;
Benefits and Difficulties in the Risks Management Usage
for the Carriers, and New Tools for the Risks Management
for the Reduction of the Cargo Theft. The lecturers were,
respectively: Mr. Adelson Almeida Cunha, Manager for
Products of Minas Brasil Seguros; Mr. Vander Francisco
Costa, President of the Trade Associations of Cargo Carrier Companies in Minas Gerais, and Mr. Cyro Buonovoglia,
President of the National Trade Association of the Risks
Management Companies and theTracking and Monitoring Technology Companies.
April
Seminar – The New Norms for Life and Personal
Accident Insurances
This seminar, promoted by FUNENSEG in a partnership with
the Sindiseg/PR and the Sincor/PR, was held on April 3rd,
4th, 25th and 27th in Paraná, respectively, in Maringá, Londrina,
Ponta Grossa and Cascavel Cities. The event counted on
approximately 370 participants and the lecture was given
by Mr. Luiz Peregrino, Director of the Committee for Life
and Personal Accident Insurances of Fenaseg.
Lecture – Solvency in the Insurance Industry
Held on April, this event was organized by the Sindiseg/
SP. The lecturer was given by the expert in this subject,
Professor Georgios Pitselis, of the Insurance Sciences and
Statistical Department, at the Piraeus University in Greece,
and consultant for the pension funds in the solvency evaluation in that country. At the opportunity, the Professor reviewed the main concepts about the solvency regulation
by means of the Risk Based Capital (RBC), a method
created in the USA, and showed a form he developed for
insolvency foreseeing, based on accounting data of the
insurance companies.
Seminar on Indicators for the Fraud Quantification
This seminar was held on April 4th, at the Trade Association of the Insurance Companies of São Paulo. Several
representatives of the insurance industry participated presenting studies about the importance of quantifying the
fraud, as well as the benefits of directing the efforts
against such delict, apart from the realization of the society and the government for this problem faced by the
Companies.
May
The IAIS Role in the standardization of the
Supervision and Control Criteria of the
Insurance’s Activities in the World
Held on May 2nd, at the Hotel Pestana - Rio de January, the
event had the purpose of presenting, to the insurance industry, the importance of the IAIS in the establishment of
the Insurance Regulatory Directives in the world, the work
developed by its Sub-committees, specifically the one that
deals with the establishment of the directives about the
new criteria for detecting the the insurance company solvency. The participation of the President and members of
the Sub-commettee on Solvency and Actuary of the IAIS
is highlighted.
The North-American Regulation
This event was held at the auditorium of Fenaseg on
May 3rd. The lecture was given by Mr. Alessandro Iuppa,
President of the National Association of the Insurance
Commissioners of the USA – NAIC and the Superintendent of Insurance for the Maine State. The event had
the purpose of presenting the USA insurance industry
and the model of regulation of the insurance activity in
that country.
The Reflexions of the New Rules for Life and
This event was held with the support of Mongeral S/A on
May 4th, in a partnership with the Sindiseg/PE, Sincor/PE
and FUNENSEG. The lecture was given by Mr. Nilton
Molina, Vice-President of Fenaseg and also President of
the Supervisory Board of Mongeral S.A. Seguros e
Previdência, and Mr. Luiz Peregrino, Director for Life and
Personal Accident Insurances of Fenaseg. The event took
place at the auditorium of Sebrae.
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The Knowledge and the Welfare
in the Business World
The Seminar was held on May 18th at the Hotel Copas
Verdes, in Cascavel/PR, and had the following lectures:
The Daily Insurance Doctrine and Fundaments, given by
Mr. Júlio Bierrenbach, and How to Use the Stress Positively in the Work, given by Mr. Marcos Bojo. This event,
which counted on more than 70 participants, was promoted by FUNENSEG and was held with the support of
Sindiseg/PR and Sincor/PR.
Ombudsman’s Services within the Insurance
Industry – Transparency in the Customers
Relationship
Held on May 25th at the Hotel Marriot, in Rio de January,
the event had the purpose of showing the Spanish knowhow about ombudsman’s services, evaluating the effects
of the implantation of the ombudsman’s services within
the insurance industry and presenting the data of the study
regarding to the development and results of the
ombudsman’s services during 2005.
June
Lecture Prevention and Reduction
of Insurance Fraud
This event was promoted by the Trade Association of the
Insurance Companies of Minas Gerais on June 1st, in a
partnership with FUNENSEG. Dr. Neival Rodrigues Freitas,
Director for the Protection to Insurance of Fenaseg was
the lecturer.
als of the insurance companies, propitiating knowledge
for the correct application of the tracking systems within
the hull, agribusiness and civil building portfolios.
Meeting – Candidates to the Presidency of the
Republic of Brazil
From April to June, 10 meetings were held in Rio de January,
São Paulo, Rio Grande do Sul, Paraná and the Federal District, with the attendance of the President of Fenaseg, Dr.
João Elisio Ferraz de Campos, the Presidents fo the Trade
Associations of the Insurance Companies, the Presidents of
the Insurance Companies and other representatives of the
insurance industry, in order to produce a document to be
delivered to the candidates to the Presidency of the Republic of Brazil, with proposals for public policies and actions of
preferential interest for the social and economical development of the country and the insurance industry.
Events held with the
Support of Fenaseg – 2006
May
1st Meeting on Medical Errors:
The civil liability of the health plans providers
and the State, for failures made by the medical
science and/or covenanted medical-hospital
service professionals, in the light of the Civil
Code and the Customer Defense Code
The Right Choice: Technologies and
Applications on Tracking Systems in Trucks
and Heavy Machinery
The event was organized by Abramge at the Hotel Blue
Tree, in Angra dos Reis, Rio de January, from May 12th to
14th. The Honorable Minister of Health, Mr. José Saraiva
Felipe, The Honorable Secretary of the State Health, Dr.
Gilson Cantarino, the Honorable President of the Supreme
Court of Rio de January, the Associate Justice, Dr. Sérgio
Cavalieri Filho, the Honorable President of the National Federation of Physicians, Dr. Heder Murari Borba, and the
main names of the Juridical and Medical Areas of Rio de
January, attended to the event.
Seminar held on June 21th at the Hotel WCT, in São Paulo,
with the purpose of providing technical information available in the market about the different tracking systems
for use in trucks and heavy machinery, for the profession-
The implemented actions were: the promotion of the
Fenaseg’s trademark on all the publicity material of the
event and distribution of juridical literature in insurance.
Lecture Knowing about Insurance
This lecture was held on June 8th at the Hotel Bourbon
and was promoted by FUNENSEG with the support of
Sindiseg/PR and Sincor/PR. The lecturer was Mr. Renato
Pita Maciel de Moura.
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Fenaseg
Activities
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81
Technical Committees, composed of professionals from
several insurance companies, pension funds and
capitalization, are specialized advisory bodies of Fenaseg
and affiliated companies.
The functions of the Technical Committees are the
following:
• To evaluate the impact of regulations published,
presenting recomendations regarding to the procedures.
• To appraise matters and to develop studies of technical
nature regarding to the diverse insurance branches.
• To respond the queries raised by the insurance
companies and other entities.
• To submit actions to the Board that satisfy the interests
of the industry.
• To organize seminars/workshop on themes that satisfy
the interests of the insurance companies’ professionals,
the assureds and the regulatory bodies.
• To appoint representatives to participate in events and
meetings on themes concerning to their scope of operation.
Because of the relevance of the work of Technical
Committees, the interest of the insurance companies to
participate in such forums has been increasing, which
already counts on nearly 600 professionals. In 2005,
according to the following table, 183 meetings in 21
committees were held in Fenaseg, for discussion and
analysis of 585 matters.
In January, 2006, the most recent Committee of Fenaseg
has been created – Committee of Ombudsman’s Services,
with the purpose of permiting the exchange of
experiences between the ombudsmen and perfecting
the client-company relationship, in order to improve the
institution’s image.
Apart from their Presidents, the Technical Committees
of Fenaseg have Mentors to monitor the subject
matters discussed during the meetings. Some of
these subject matters may be direct to the Board of
Fenaseg’s decision.
Statistics 2005
Members
Guests
Total
Participants
Matters
Discussed
8
37
-
37
22
11
44
-
44
86
-
11
2
13
-
Legal Affairs
12
65
55
120
144
Motor Insurance
12
24
-
24
52
Capitalization
16
12
-
12
16
5
17
1
18
5
11
32
-
32
31
6
19
10
29
5
Committees
Actuarial
Administration and Finances
Arbitration
General Coordination
Internal Controls
Medical Science in Insurance
Private Pension Funds and Life Insurance
Meetings
Held
13
65
12
77
38
Human Resources
5
28
-
28
11
Civil Liabilities Insurance
8
16
5
21
10
Reinsurance
4
26
-
26
6
Credit Insurance
2
20
-
20
8
10
26
1
27
21
Home/Housing Insurance
5
12
2
18
11
Rural Insurance
8
13
8
21
12
Health Insurance
15
23
12
35
91
Insurance Claims
12
61
03
30
7
Information Technology
12
33
10
43
-
8
20
-
20
9
183
604
121
695
585
Property Insurance
Cargo Insurance (Goods in Transit)
Total
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Each Technical Committee is represented in the
Board of Fenaseg by a Director-Mentor.
ADMINISTRATION AND FINANCES COMMITTEE
President: Roberto Chamberlain da Costa
Bradesco Seguros S.A.
Mentor: Renato Campos Martins Filho
ARBITRATION COMMITTEE
President: José Américo Peón de Sá
Áurea Seguros S.A.
Mentor: Suzana Munhoz da Rocha
Fenaseg
LEGAL AFFAIRS COMMITTEE
President: Ricardo Bechara Santos
Mentor: Salvador Cícero Velloso Pinto
Fenaseg
CREDIT INSURANCE COMMITTEE
President and mentor: João Gilberto Possiede
PROPERTY INSURANCE COMMITTEE
President: José Eduardo Teixeira Arias
Generali do Brasil Cia. Nacional de Seguros
Mentor: Paulo Miguel Marraccini
MOTOR INSURANCE COMMITTEE
President: Luiz Alberto Pomarole
Mentor: Casimiro Blanco Gomez
ACTUARIAL COMMITTEE
President: Sinval Chaves de Oliveira
HOME/HOUSING INSURANCE COMMITTEE
President: Álvaro Arantes Sobrinho
Caixa Seguradora S.A.
Mentor: Mucio Novaes de Albuquerque Cavalcanti
Companhia Excelsior de Seguros
CAPITALIZATION COMMITTEE
President: Rita de Cássia R. Batista Moço
Bradesco Capitalização S.A.
Mentor: José Ismar Alves Tôrres
CIVIL LIABILITIES INSURANCE COMMITTEE
President: Álvaro F. Igrejas Lopes
Itaú Seguros S.A.
Mentor: Federico Baroglio
INTERNAL CONTROLS COMMITTEE
President: Carlos Alberto Valim Banhos Henrique
HEALTH INSURANCE COMMITTEE
President and mentor: Luiz Tavares Pereira Filho
Bradesco Vida e Previdência S.A.
GENERAL COORDINATION COMMITTEE
President: Jacques Bergman
Itaú Seguros S.A.
Mentor: João Elisio Ferraz de Campos
Fenaseg
MEDICAL SCIENCE IN INSURANCE COMMITTEE
President: Paulo Cesar Tourinho
Mentor: Luiz Peregrino
Fenaseg
PRIVATE PENSION FUNDS
AND LIFE INSURANCE COMMITTEE
President: Renato Russo
Mentor: Nilton Molina
Mongeral Seguros e Previdência S.A.
HUMAN RESOURCES COMMITTEE
President: Maria Helena Monteiro
Mentor: Luiz Tavares Pereira Filho
REINSURANCE COMMITTEE
President: Marcus Viana Clementino
Mentor: Olavo Egydio Setúbal Júnior
Itaú Seguros S.A.
CLAIMS COMMITTEE
President: Adhemar K. Fuji
Mentor: Ricardo de Sá Acatauassú Xavier
Fenaseg
INFORMATION TECHNOLOGY COMMITTEE
President: Sidney Dias da Silva
Companhia de Seguros Aliança do Brasil
Mentor: Horácio L. N. Cata Preta
Fenaseg
CARGO INSURANCE (GOODS IN TRANSIT) COMMITTEE
President: Arlindo da Conceição Simões Filho
Mentor: José Luiz Valente da Motta
Tokio Marine Seguradora
RURAL INSURANCE COMMITTEE
President: Wady José Mourão Cury
Mentor: José Américo Peón de Sá
Áurea Seguros S.A.
OMBUDSMAN’ SERVICE COMMITTEE
President: Mário Teixeira de Almeida Rossi
Mentor: Oswaldo Mário Pêgo de Amorim Azevedo
Sul América Seguros S.A.
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Working Parties
Project on Qualification
of the Supplementary Health
Coordinator: Solange Beatriz Palheiro Mendes
Working party composed of representatives of the insurance companies, segmented in the economical-financial
and medical service scope, having the purpose of studying the program launched by ANS, in order to analyse its
impacts and present considerations and recommendations to the regulatory body.
Exchange of Information
in Supplementary Health (TISS)
Working party composed of representatives of the insurance
companies having the purpose of studying the program implanted by ANS for information exchange between insurance
companies, operators and service providers, in order to present
considerations and recommendations to the regulatory body.
List of Medical Procedures
Working party composed of representatives of the insurance companies, having the purpose of monitoring the
regulation process for new entries in the List of Medical
Procedures created by ANS.
Products Registry
Working party composed of representatives of the insurance
companies, having the purpose of analysing the impact of
the new rule for the operation of insurance industry and presenting considerations and recommendations to ANS.
List of Odontological Procedures
Working party composed of representatives of the insurance companies that commercialize odontological products, having the purpose of monitoring the regulation process of new entries in the List of Odontological Procedures implemented by ANS.
Contracting
Working party composed of representatives of the insurance companies, having the purpose of analysing the contracting rules required by ANS and presenting considerations and recommendations to the regulatory body.
Solvency Margin
Coordinator: Jorge Luiz Prym
Brasilprev Vida e Previdência
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Mixed working party composed of Fenaseg & ANAPP, with
the purpose of promoting the preparation of study related
to proposal for regulation of Solvency Margin for life insurance operations with endowment policies and open pension funds to be presented to SUSEP.
SUSEP Circular no. 287/2005 –
Working party composed with
the purpose of studying proposal
to be presented to SUSEP
Coordinator: Paulo Miguel Marraccini
Working party created having the purpose of evaluating
the alternatives and propositions to be presented to SUSEP.
The Board of Directors of Fenaseg has approved the contracting of the professional services of Control Consultoria,
to develop an alternative project to SUSEP Circular no. 287/
2005. Such project was concluded, approved by the working party and sent to SUSEP.
Money Laundering
Coordinator: Ricardo de Sá Acatauassú Xavier
Fenaseg
Composed of representatives of the various segments that
operate in insurance, capitalization and open pension funds,
this working party was created in 2002 with the purpose of
analysing, jointly with the SUSEP and the Council for the
Control of Financial Activities (COAF), the impact arising from
the regulations against money laundering (Law no. 9.613/98
and SUSEP Circular no. 200/2002) in the operation and commercialization of the products. The working party made
contributions for publishing the aforementioned Circular. At
the request of SUSEP, the working party continued the work
for reviewing the SUSEP Circular no. 200/2002 in order to improve control mechanisms against money laundering and to
rise the 2004 evaluation of the Brazilian insurance industry
by international agencies from compliant to largely compliant, also taking into consideration the operational aspects
and the cost/benefit ratio. By the end of 2005, with the
working party comments, the aforementioned Circular has
been included to Open Court, and therefore the SUSEP Circular no. 327/2006, dated May 29th, 2006 was published,
with recommendations made by Fenaseg partially included.
Popular Auto Insurance
Coordinator: Ricardo de Sá Acatauassú Xavier
Fenaseg
Working party composed in 2004, with the purpose of developing proposal to identify the necessary measures to
turn this product into a feasible product, and to permit the
accessibility to insurance for the owners of oldest vehicles,
and therefore granting the protection for their property by
means of a lower price insurance policy. In January, 2005,
a series of recommendations was presented to SUSEP that
on later, included as a draft for Circular to Open Court, also
commented by the working party. SUSEP Circular no. 306,
dated November 17th, 2005 was then published, and in
2006, Fenaseg presented new recommendations.
Extended Guarantee Insurance
Coordinator: Mirian Assis
Working party composed of representatives of Unibanco AIG
Seguros, Mapfre Vera Cruz Seguradora S/A, Assurant
Seguradora S/A and Cardif do Brasil Seguros e Previdência S/
A, formed in 2005 with the purpose of presenting proposal to
amend the regulation on Extented Guarantee Insurance. SUSEP
Circular no. 323, dated April 19th, 2006, was then published.
Distribution Systems
Fenaseg/Fenacor
Coordinator: João Elisio Ferraz de Campos
Purpose: To analyse and to send common interest subject matters for the two entities.
Workers Compensation Insurance
Coordinator: Oswaldo Mário de Azevedo
Working party composed of representatives of various insurance and reinsurance companies with the purpose of
developing proposal for regulation of Workers Compensation Insurance. The proposal was presented to the Ministry of Pensions and to SUSEP.
Technical Certification
Coordinator: Maria Helena Monteiro
Working party composed of representatives of Fenaseg,
ANAPP and FUNENSEG with purpose of monitoring the
process of technical certification for the professionals and
the assimilated ones from the insurance and capitalization companies, and from open pension funds entities, in
accordance with the regulations in force.
Professional Qualification of the
Loss Adjusters for Rural Insurance
Coordinator: Wady José Mourão Cury
Working party composed with the purpose of developing
a training program, with curricular grid and timetable directed to the professional qualification of the loss inspectors and adjusters for rural insurance.
Education Committee
Coordinator: Renato Campos Martins Filho
Vice-president of Fenaseg
Working party composed to develop proposal of professional
qualification that fulfil current and future needs for the insurance industry. The Committee will evaluate the benefit to
establish conventions with universities and other educational
and national institutions, the need for translation of technical
bibliography and the development of didactic material.
Accounting of the Rural Property and
Goods on Lien, and Miscellaneous Risks –
Combined Plans
Coordinator: Maria Elena Bidino
Fenaseg
A technical working party created to monitor the subject
matter near IRB-Brasil Re and SUSEP, so as to present
the understanding of the insurance industry about the allocation before the SUSEP’s regulations, published in the
last quarter of 2005, of the equipment directly related to
the agricultural and farming – livestock activity in the Miscellaneous Risks – Combined Plans, that must not suffer
any change of these operations in a retroactive way.
Sue & Labor Clause
Fenaseg
A working party created to study the subject matter, jointly with
IRB-Brasil Re, and to develop a reference clause that may be
included in the insurance policies to satisfy the Brazilian Civil Code.
Opening of Accounts in Foreign Currency
Titled by Insurance Companies
Fenaseg
Technical working party composed within the scope of the
Reinsurance Committee of Fenaseg, to study the subject
matter jointly with IRB-Brasil Re, aiming at opening and
operating foreign currency accounts by Insurance Companies, an operation nowadays concentrated in IRB-Brasil Re.
Technical Group for the Analysis
on Reinsurance Affairs
Coordinator: Pedro Purm
Zurich Brasil Seguros S.A.
Working party composed of representatives of the insurance industry with the purpose of analysing and proposing
changes to perfect the Bill no. 249/2005, with deals with the
reinsurance policy, insurance syndicating, retrocession operations and its intermediation, insurance abroad, and operations effected by the insurance sector in foreign currency, and also in respect of some related matters.
Capitalization Accounting
Coordinator: João Augusto Xavier
Caixa Capitalização S.A.
Working party composed of accountants that work in capitalization companies and develop studies focused on the
adjustment of the Chart of Accounts and the Investment
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in Interests Funds (FIPs) to the capitalization operations.
The coordinator of this working party also takes part in the
Administration and Finances Committee of Fenaseg and
in the Accounting Committee of SUSEP.
Actuarial for Capitalization
Coordinator: Anna Paula Almeida
Sul América Capitalização S.A.
Working party composed of actuaries that work in the capitalization companies and develop studies focused on the
changes of the Standard Plan of CAP and the adjustments
to be made in the FIPs with respect to the capitalization
operations. The coordinator of this working party is also a
member of the Actuarial Committees of Fenaseg and SUSEP.
Information Technology
for Capitalization
Coordinator: José Maurício Rodriguez Y Rodriguez
Working party composed with the purpose of monitoring
the new project of the Conceptual Database in development jointly with SUSEP, as well as the improvement of FIP.
Legal Aspects in Capitalization
Coordinator: Carlos Rogério Silva
Working party composed to monitor the legal aspects related to Capitalization. The coordinator of this working party
is a member of the Legal Affairs Committee of Fenaseg.
Internal Controls for Capitalization
Coordinator: Ricardo Almeida
Bradesco Capitalização S.A.
Working party composed to study the new regulation of SUSEP
regarding to this subject matter and to promote the development of internal controls within the capitalization companies.
Permanent Committe
for Institutional Affairs
Coordinator: Antonio Mazurek
Fenaseg
Working party composed of members of the executive
body of Fenaseg with the purpose of analysing, discussing and defining the industry’s strategies and monitoring
the developments of the Bills and other regulations with
respect to the Insurance Industry.
Communication Committee
Coordinator: Geraldo Bolda
Fenaseg
Working party composed of members of the executive
body of Fenaseg with the purpose of discussing and recommending the communication strategies that must be
adopted to improve the relationship of Fenaseg with the
insurance industry and the public opinion.
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Ethics and Self-Regulation
Members:
Antonio Cassio dos Santos
Antonio Trindade
Luiz Tavares
Mário Teixeira de Almeida Rossi
Marivaldo Medeiros
Masasi Maeda
Mauro Batista
Nilton Molina
Olavo Egydio Setúbal Jr.
Oswaldo Mario Azevedo
Renato Campos Martins Filho
Fenaseg
Glória Faria
José Arnaldo Rossi
Maria Elena Bidino
Neival Rodrigues
Paulo Amador
Ricardo Xavier
Sergio Duque Estrada
Vera Cruz
Unibanco AIG
Porto Seguro
Bradesco
Vera Cruz
Marítima
Mitsui Sumitomo
Roma
Icatu-Hartford
Itaú
Sul América
AGF Brasil
American Life
Minas Brasil
Fenaseg
Fenaseg
Fenaseg
Fenaseg
Fenaseg
Fenaseg
Fenaseg
Fenaseg
The working party is composed of the insurance companies’ managers to develop the Code of Ethics for the Insurance Industry, Open Pension Funds and Capitalization
has already concluded this phase. After detailed researches and profounded debates, the Code got ready.
The final version of the Code was presented and approved
by the senior management of Fenaseg – Directorate and
Consultative Council, and then, sent to all companies of
the insurance industry. It will be in force soon.
In the Code preparation, the focus was satisfy the justice
and truth principles, which must form the social conscience and represent an imprerative of behaviour to be
adopted by the insurance and capitalization companies,
and open pension funds entities.
By means of voluntary adherence to the Code, the companies of the sector will be expressing their firm decision
to protect the development in its activities, in harmony
with the free initiative principles, the institutional autonomy
of the insurance industry operators, the protection of the
free competition and contractual good faith, which may
exist between the companies and in the business relationship established with the consumers.
In a second stage, the working party will develop the
Internal Regulation for the Ethics Council, which will be
composed, at first, by members of the Consultative
Council of Fenaseg.
Project for the Insurance Industry
Confederation
Members:
Osvaldo do Nascimento
Carlos André Guerra Barreiros
Francisco Alves de Souza
José Ismar Alves Torres
Luiz Carlos Trabuco Cappi
Marcos Eduardo dos Santos Ferreira
Nilton Molina
Patrick Antonio C. de Larragoiti Lucas
Pedro Purm Júnior
Luiz Alberto Costa
Márcia Borges da Silva
Marcos Lima
Paula Guitton
Sérgio Duque Estrada
ANAPP
Itaú Vida e Previdência
Comprev
Porto Seguro
Unibanco AIG
Brasilcap Capitalização
Bradesco
Mapfre & Nossa Caixa
Mongeral S/A
Sul América
Zurich Brasil
ANAPP/Executivo
Staffel Consultoria
Staffel Consultoria
Fenaseg
Fenaseg
Fenaseg
The insurance industry has expressed the wish to reform the
model of its institutional representation and, with this purpose, has authorized Fenaseg to contract a consulting com-
pany in order to define a new representation model. The
selected company, Booz Allen, carried out its works by
analysing deeply the current situation and listening to the insurance industry leaders to seek the best organizational model.
Some changes in the presented model were made, so as to
reflect not only to the will of the sector, but also the good
practices for governance, and mainly the legal feasibility.
In general lines, the suitable representation to get the sector standardization and to accommodate its diversities, is
a duplicate model, of union and association, with the creation of specialized Federations by area – General Insurance, Open Pension Funds and Life Insurance, Health Insurance, and Capitalization – and the creation of a National Confederation for the insurance industry.
Once concluded the development phase, the Committee on
Implementation of the Confederation Project was composed
of representatives of Fenaseg and the ANAPP. A consultancy
specialized in law related to trade associations was contracted to develop the drafts of the new statutes.
The estimated date to the conclusion of the work is
December of the current year.
Working Party – Article 192
of the Federal Constitution
Coordinator: José Américo Peón de Sá
Members:
Élio Mosquim
Itaú Seguros
Áurea Seguros
José Ismar Alves Torres
Banco do Brasil
Nilton Molina
Mongeral S.A. Segs. e Prev.
American Life Cia. de Segs.
Ricardo Bechara Santos
Sul América Cia. Nac. de Segs.
Sylvio Fernandes
AINDA/Porto Seguro
Washington Luiz B. da Silva
Unibanco AIG Vida e Prev.
Fenaseg retook the studies about regulation of the Article
192 of the Federal Constitution. The purpose is to develop
a Bill to dispose on Private Insurance, Reinsurance, Open
Pension Funds and Capitalization.
The reference version is the work previously developed by
Mr. José Américo Peón de Sá, at the request of Fenaseg,
but other documents related to this theme, Bills and researches, are also taking into consideration.
Fenaseg
Elaine de Abreu Jorge
Fenaseg
Gloria Faria
Fenaseg
Maria Elena Bidino
Fenaseg
Ricardo Xavier
Fenaseg
Salvador Cícero
Fenaseg
Fenaseg
One of the news being proposed is the creation of the National Agency of Private Insurance, Reinsurance, Open Pension Funds and Capitalization (AGENSP) – a governmental
body connected with the Ministry of Finance, as a body to
regulate, to standardize, to control and to inspect those
segments activities. After the conclusion of this phase, the
draft of the Bill will be submitted to the industry evaluation.
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Technical Studies and Researches
Study about Insolvency’s Determinants
within the Supplementary Health Sector
The Directorate of Health Insurance developed an
econometrical study with several health plans operators in
their several modalities in order to investigate the relation
between the economical-financial variables, apart from other
specific characteristics of each operator modality, and the
risk of financial insolvency. The study published by the
magazine Revista Brasileira de Risco e Seguro, in its April/
September, 2006 issue, showed that the insolvency risk is
associated to the low capital levels and to the absence of
technical provisions during the two years before the event.
Study of the Economical-Financial
Dimension for the Qualification Program
The Directorate for Health Insurance also developed a study
about the Economical-Financial Performance Ratio (IDSS)
for the Qualification Program, where the main conclusion
was that the operators ranking by IDSS is not in accordance with the actual solvency situation of the operators.
Such fact was corroborated in the study through the classification obtained by an operator deemed technically insolvent: 1st position. In addition, it was showed the following: a) the absence of a correlation between the IDSS
and some basic variables for the solvency guarantee, as
the policyholders’ surplus and the technical provisions;
b) the IDSS’s incapacity to differentiate solvent operators
from the insolvent ones; c) the positive correlation between
the loss ratio and the positioning of the operator in the
ranking. The study has been published by the magazine
Revista Cadernos de Seguros, in May, 2006.
Analysis of the Qualification
Program for ANS
Fenaseg contracted the company SR Rating’s assistance
in order to obtain a technical positioning related to the
Qualification Program. Amongst the main problems detected, the following are highlighted:
a) absence of scientific evidence for the combination of
different dimensions for analysis in a same indicator;
b) a little statistical robustness and a low reliability on the
data that generate the indicators used by the Program;
c) absence of temporal series to base the choice of
indicators.
Homeowners, Comprehensive Business
and Comprehensive Condominium
Insurances
The Property Insurance Committee developed technical
study about such insurance conditions, object of the Open
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Court no. 19/2004. After the issuing of the SUSEP Circular no. 321/2006, that divulged the Referential Conditions
for the Residential Homeowners, Comprehensive Business and Comprehensive Condominium Insurances, the
Committee still continues the work for the improvement
of the referred conditions.
General Liability Insurance
The General Liability Insurance Committee developed technical study about the standardized conditions for such
insurance, object of the Open Court no. 14/2005.
Civil Liabilities Insurance –
Claims – Made Base
The Civil Liabilities Insurance Committee is developing
technical study for the analysis of the Open Court no. 6/
2006, which disposes about the operationalization of the
Civil Liabilities Insurance - Claims-Made Base.
Rental Guarantee Insurance
The Credit Insurance Committee is developing technical
study for the analysis of the standardized conditions for
such insurance, object of the Open Court no. 7/2006.
Engineering Risks Insurance
The review process of the wordings for the Engineering
Risks Insurance and the special clauses offered by IRBBrasil Resseguros S.A. is being developed.
Agricultural Insurance
The Rural Insurance Committee prepared technical study
about the standardized plan for such insurance – a single
product of soya and corn, the 2005/06 years’ production,
available at the SUSEP’s site.
Arbitration
The review of the Arbitration Guide has been produced
and the new Guide is available at the Fenaseg’s site.
Ombudsman’s Service
The Ombudsman’s Service Committee prepared the Report about the Development and Results of the Associated Companies Ombudsman’s Services, available at the
Fenaseg’s site.
Reinsurance Statistics
The Reinsurance Committee of Fenaseg produced a study
jointly with representatives of IRB-Brasil Re, with the purpose of analysing and defining the necessary information
to renewal the contracts, so as to satisfy the PRESI Circu-
lar-003/2006, dated January 17th, 2006. The working group
is studying, jointly with the reinsurer body, the layout of the
tables to the data presentation at a standardized form and
coherent with the possibilities of the insurance companies.
housing insurance outside the Financial System, aiming at
creating competitive insurance conditions, and that satisfy
the demand for real state incorporations, and the commercialization of second-hand real state with financing.
Reinsurance Recovery
Statistical Information
on the Insurance Industry
The Reinsurance Committee is studying the Clause
no. 402 wording, of the PRESI Circular-032/2005 – General
Standards for Reinsurance and Retrocession (NGRR), with
the purpose of clarify the coverage alternatives offered by
IRB-Brasil Re, in case of indemnities resulting from judicial sentences or not.
Cargo Insurance (Goods in Transit)
– Revision of SUSEP Circular no. 178/2001
– Basic General and Special Conditions
for Cargo Insurance (Goods in Transit)
– Air Cargo, Marine Cargo and Cargo by
Land Vehicles (National and
International)
The Cargo Insurnace (Goods in Transit) Committee of
Fenaseg concluded the study and in the second half of
2006, shall be booked a public meeting for the presentation of the SUSEP’s regulation.
RCTA-C, RCTF-C, RCA-C
and RCF-DC Insurances
The Cargo Insurance Committee of Fenaseg (Liability –
Transit Carrier) produced the revision and updating for
these insurances, and the conclusion about such study
has been sent to SUSEP. In the second half of 2006, SUSEP
shall include these conditions to Open Court.
Assumption of the Home/Housing
Financial System Insurance Risks
by the Insurance Industry
The actuarial study, which intends to evaluate the current
status of the Home/Housing Financial System Insurance, is
in the conclusion phase, according to the proposal of the
Home/Housing Insurance Committee of Fenaseg. The conclusions of such study will subsidize the insurance industry
on its decision to assume the aforementioned insurance risks.
Research aiming at amplifying the Home/
Housing and Real State Insurances
The Home/Housing Insurance Committee of Fenaseg is
developing research foreseeing the amplification and adequacy of the home/housing insurance to the governmental investments estimates, in order to balance the deficit
within the real state industry.
New Model for the Home/Housing
Insurance Outside the Financial System
The Home/Housing Insurance Committee of Fenaseg is
coordinating the conception of new model for the home/
The gathering of information and the qualitative analysis
of the data obtained is fundamental for envisioning the
potential of the insurance industry. This is also important
for studies of tariff adjustments, for making administrative improvements, decreasing expenses and widening
market exposure of the sector etc.
For this reason, Fenaseg developed a Statistical Information System (SEGDATA), which consists of a database
structured to receive and store the information received
from the companies through the Periodical Information
Forms (FIP), as well as from the Statistical System of
SUSEP (SES) and from the ANS Statisticals Bulletins.
Fenaseg also developed an inquiries processing system
for the main accounts of insurance operations, open pension funds and capitalization. This System now facilitates
the elaboration of spreadsheets and charts for easy handling and visualization.
Through the SEGDATA, Fenaseg is qualified t, quickly and
safely, process and provide precise and reliable statistical information of interest to the insurance industry.
Apart from the work of consolidation of the data provided
by SUSEP and ANS, and the disclosure to the market by
means of Circulars and the Fenaseg web site, Fenaseg
also issues statistical reports on market movements, in
conjunction with a contracted service provider - G. Tagliavini
Consultoria Financeira e Emrpresarial Ltda., which includes the following:
(1) A quarterly Report of the Insurance Market Activities,
providing information on the portfolios and aggregates of
the economic accounting and net worth of the industry,
including data and commentaries regarding to the margin of contribution, return, liquidity, solidity and others.
(2) A quarterly Report of the Open Pension Funds Market
Activities, providing information on the portfolio and aggregates of the economic account and net worth of the industry, including data and commentaries regarding to the
margin of contribution, return, liquidity, solidity and others.
(3) A quarterly Report of the Capitalization Market Activities, providing information on the portfolio and aggregates
of the economic account and net worth of the industry, including data and commentaries regarding to the margin of
contribution, return, liquidity, solidity and others.
(4) Statistical Information of the Insurance Market for the
Fenaseg Report, which from the historical series since
1993, presents reports and commentaries on the portfolio
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data, economic accounts, leverage, result of the production, applications and investments, structure of the net
worth situation etc.
(5) Social Balance of the Insurance Industry.
(6) Supplement – Projection of the Insurance Industry. This
job, developed from 1st half of 2005 and to be issued by
each semester, which contains the tendencies of development of the insurance industry during the following period.
FIPE – Automobile Market Value Table
Fenaseg and FIPE – Foundation Institute of Economic Research signed a convention in 2000, to formalize the
monthly preparation by FIPE of a price table showing the
average values of auto vehicles and the agreement for
electronic usage of such data by the insurance industry
and other similar segments.
CESVI – Center of Road Safety and
Research on Car Repairing
the target public, sales estimates and technical literature
supplied by the vehicles manufacturers.
The Technical Consultative Council of the CESVI Agreement is currently presided by Mr. Ricardo de Sá
Acatauassú Xavier, Director for Motor and Institutional Affairs of Fenaseg, who has the purpose of monitoring and
elaborating recommendations on the works of the aforementioned Agreement.
a) To monitor the execution of the works;
b) To elaborate recommendations regarding to the works
conducted by CESVI;
c) To recommend priorities with respect to the effecting of
the services; and
d) To take part in technical meetings with the Assemblers
and other entities.
On January 15th, 2003, Fenaseg signed an agreement with
CESVI, which is the sole research center focusing on automobile repair statistics in Brazil and the first one in Latin America.
In 2003, in response to demands from the insurance industry through the Consultative Council, research work was
started on the Functioning and the Efficiency of the Tracking and Ignition Blocking Systems of vehicles available
in the Brazilian market.
The mission of CESVI BRASIL is to provide solutions for
the prevention of accidents and motor repair by means of
researches, training and technical publications, aiming at
the evolution of the whole repair industry.
In 2005, in response to demands from the Motor Insurance Technical Committee, CESVI elaborated study to find
out the reasons that could be the cause of high robbery
and theft index of the hybrid vehicles, as the Flex.
Through such agreement, CESVI supplies Fenaseg with
the results of the researches relating to the vehicle repair
and services of technical content developed or validated
by the Center.
CESVI has been also co-operating with the insurance industry providing support to other studies of interest of the
automobile segment, such as the preparation of recommendations for the regulation of Supplementary Law
no. 121/2006, regarding to the evolution of mechanisms,
which minimize the robbery and theft of vechicles.
1 – Time Tables (BAREMO): tables containing the time of
replacement, repair, mechanics and painting of certain
national vehicles spare parts object of the technical and
scientific research.
Mechanism for protection of the
Insurance Industry, through the
Institute of “Property Affectation”
2 – Index of Reparability: result of the calculation made,
based on the results of the low speed impact tests on the
front and rear parts of the vehicle object of the research,
made in accordance with the procedures specified by the
Research Council for Automobile Repair (RCAR) for “Low
Speed Impacts”, in which will be enumerated the damaged parts and the time spent for repair or replacement of
the referred parts and the cost inherent to this process.
Proposal made to SUSEP for Bill, and its pertinent justification, by the Writen Notice PRESI no. 52/05, dated July
12th, 2005, disposing about “the protection of the rights of
insurers, participants, beneficiaries, assisted persons and
capitalization securities holders, through the Institute of
Property Affectation, arising from plans of the insurance
and capitalization companies, and open pension funds
entities, and also in respect of some related matters.
3 – Basic Spare Parts Basket: comparative of the variation
of the prices practiced by the National Vehicles Assemblers of the 15 major motor spare parts used habitually in
crashing losses.
Endowment Plans
4 – Technical Information: presentation about vehicles
recently launched in the market, containing data on models, engine, safety systems and existing types, apart from
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Elaboration of proposal for regulation of Endowment
Plans – CNSP Resolution and SUSEP Circular – sent to
SUSEP by the Writen Notice PRESI n o. 069/05, dated
September 26th, 2005.
Recommendations made to SUSEP at the Open Courts nos.
02 and 03, both from 2006, and by the Writen Notices PRESI
nos. 014/06 and 027/06, respectively, dated March 15th, 2006
and April 28th, 2006, and the meetings with representatives of
the Governmental Agency. As a result of the jobs performed,
the CNSP Resolution no. 148/06 had been issued at the Official
Daily Government Newspaper (DOU), dated July 6th, 2006.
Life and Personal Insurance Coverages
Recommendations made to SUSEP at the Open Court
no. 03/2005.
Preparation of Technical Notes about the following themes:
• norms coming into force / term to adapt the plans to the
new rules;
• policies renewal/approval of ¾ of the insured group;
• non-contributory insurances/free from adhesion proposal;
• credit life insurance/mass insurances - specific treatment; and
• pricing according to age bracket.
The following Written Notices have been made to SUSEP:
• DIVID no. 021/05, dated June 22th, 2005;
• PRESI no. 070/05, dated October 11th, 2005;
• PRESI no. 078/05, dated November 18th, 2005;
• PRESI no. 002/06, dated January 5th, 2006.
In addition, meetings with the SUSEP’s representatives were
held and lectures had been given in several seminars.
Permanent and Total Functional Disability
Coverage due to Disease
Technical Qualifying
Technical Qualifying Program
for the Insurance Industry
With the purpose of improving the technical qualifying
level and promoting the adoption of uniform practices
between the professionals that work in the Brazilian Insurance Industry, SUSEP issued the CNSP Resolution
no. 115/2004 and the SUSEP Circular no. 149/2006, establishing the minimal conditions for the technical certification of the employees that work in the losses adjustment sectors, custumer services, internal controls
and direct sales.
Fenaseg, ANAPP and FUNENSEG have been accredited
by SUSEP to perform the technical certifying of the professionals in their respective working areas, for the insurance and capitalization companies, and open pension
funds entities.
The accredited institutions signed an agreement, being
FUNENSEG in charge of programming and offering the
technical qualifying courses, as well as organizing the
exams in the national scope. Fenaseg and ANAPP undertook to issue the technical certification according to years
of service, both for the companies’ employees and the
assimilated ones.
Preparation of “Additional Clause” for optional usage by
the insurance companies, approved by the Statutory Directorate of Fenaseg in the meeting held on April 26th,
2006, and sent to SUSEP, for acknowledge, by the Written
Notice PRESI no. 031/06, dated May 11th, 2006.
For the development of the technical certification according to years of service, Fenaseg and ANAPP created, jointly, a system for controlling all such environment: BDCT – Database for Professional Technical
Certification.
Law no. 11.196 dated November 21th,
2005 – Chapter XII: “About the
Investment Funds composed of Open
Pension Funds Entities and Insurance
Companies, and of Investment Funds for
the Real State Rental Guarantee”
From the BDCT creation in 2005 to June, 2006, Fenaseg
has issued a total of 3,361 certificates according to years
of service, satisfying the Insurance Industry’s requests,
and in accordance with the conditions specified for the
regulation in force.
Preparation of Technical Notes and made to SUSEP the
Written Notice PRESI no. 014/06, dated March 15th, 2006.
Distribution by Certified Area
Pension Plan Fund – Open Court SUSEP
no. 01/05
Preparation of the Technical Notes and made to SUSEP the
Written Notice PRESI no. 062/05, dated August 24th, 2005.
PLV 10/05 (MPV 233/04) –
ARTICLE 54: CPMF Tax
Preparation of Technical Note and adoption of necessary
arrangements aiming at contracting a lawyer’s office, in
order to be issued an opinion about the treatment given to
the CPMF Tax application or not.
Direct Sales
172 / 5%
Internal
Controls
346 / 10%
Losses
Adjustment
1,661 / 50%
Custumer Service
1,182 / 35%
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National Registry of Losses Average
Commissioners for Cargo Insurance
Created in 1978 and divulged to the Insurance Market by Fenaseg Circular n o. 16, dated March 29th , 1978
according to the disposed in the IRB-Brasil Re PRESI
Circular n o. 25/78 - TRANS n o. 05/78, dated March
21 th, 1978, the National Registry of Losses Average
Commissioners is devoted to register and authorize
the professionals to perform the activity of Losses
Average Commissioners for Cargo Insurance.
The Administration of the National Registry of
Losses Average Commissioners is under the
Fe n a s e g ’ s j u r i s d i c t i o n , w h i c h h a s t h e f o l l o w i n g
main duties:
I – to organize, keep, maintain and update permanently the National Registry of Losses Average
Commissioners;
II – to issue the Registry of Losses Average Commissioners to the interested persons, being the
provisory one valid for two years, and the definitive one, that is conferred to the professionals
after the conclusion of the course offered by
FUNENSEG; and
III – to inform about the eventual refusal of the Registry to the interested person, indicating the reasons for that.
Number of Issued Certificates
Provisional
Definitive
2005 Year
35
11
2006 Year (up to June/2006)
06
42
Total
41
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Programa de Treinamento de Resseguro
Due to the expected opening of the insurance market, and
with the purpose of improving the qualification of professionals of the insurance industry, Fenaseg, in a partnership
with FUNENSEG, offered the Program of Training in Reinsurance, composed of three modules, totalizing 60 hours course:
Module I – Technical Principles of Reinsurance
Module II – Reinsurance Contract
Module III – Administration and Management of the Reinsurance Information
The program has been offered in São Paulo, in the second
half of 2005, with the participation of 496 professionals
representing 29 companies.
The Module I, offered In Rio de January, had the participation of 210 professionals, and the other two modules will
be available in the second half of 2006.
International Relations and Negotiations
International Negotiations
Mercosul
Fenaseg is represented in the Mercosul negotiations
through the Brazilian Committee of Merco-Insurance, under the coordination of Dr. Ricardo de Sá Acatauassú
Xavier, Director for Motor Insurance and Institutional Affairs of Fenaseg. With participation in the various meetings promoted by the official bodies in charge of the
Mercosul negotiations, the Brazilian Committee of MercoInsurance has contributed to founding the projects elaboration that aim at establishing the unified insurance market of Brazil, Argentina, Paraguay and Uruguay.
In 2005, the Mercosul Insurance Committee (CS) continued do debate the changes proposed by the Brazilian
Section of the CS, which is represented by SUSEP and
IRB-Brasil Re, regarding to the already approved Milestone Agreement on Access Conditions and for the Agreement Project on Basic Conditions for Operations. The major
change at issue is with respect to the access capital. As
to the Conditions for Operations, the proposals aim at
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establishing flexibility to the agreement as well as to ensure adherence to the international principles of supervision and control emanating from the International Associations of Insurance Supervisors – IAIS, adapted to the
realities of Mercosul. Thus, the drafts of the Resolution’s
Projects of the Common Market Group (GMC), the Decision of the Common Market Council (CMC), and the Recommendation of the Technical Sub-group no. 4 were developed, and then sent to these bodies aiming at approving for such principles as general directive to the integration of the insurance markets of Mercosul.
The CS also studies the proposal from Brazilian Section
for changing and updating of the General Conditions for
the Truckers Liability Insurance Policy – RCTR-VI (Blue Card
for international voyages). The proposal recommends
changes that are in line with the New Brazilian Civil Code,
and also formalizes the procedures actually used by the
insurance industry.
The coverage limits for the International Passengers Land
Carrier Liability Insurance Policy are still under discussion.
The proposal that carriers should contract excess policies
depends on previous analysis in relation to the non-existence of legal obstacles in Brazil.
Through the Brazilian Business Coalition and the Economic
and Social Consultation Forum of Mercosul, Fenaseg is
following the agreements between Mercosul and the European Union. Fenaseg gave its opinion on aspects relating to the structure of negotiations for the financial services sector proposing that they be developed from positive lists, according to the model adopted in the World
Trade Organization – WTO.
FTAA/WTO
Fenaseg continues to accompany the international negotiations in the scope of the Free Trade Area of the Americas (FTAA) and the World Trade Organization (WTO) relating to financial services. The accompanying of the negotiations takes place through participation in meetings held
with the Inter-ministerial Working Party for Trade – Services Sub-sector (GICI-SV) of the Ministry of Foreign Affairs, the participation of the Brazilian Business Coalition,
coordinated by the National Confederation of Industry (CNI),
and mainly, through SUSEP and the Secretariat of International Affairs for the Ministry of Finance.
Fenaseg is in contact with representatives of the American Council on Life Insurance – ACLI and the American Insurance Association – AIA, principal class entities that represent the life and non-life insurance companies of the USA, respectively, with the purpose of
establishing an agenda of demand of interest common to the insurance industry of both countries in the
conformation of FTAA.
International Relations
Inter-American Federation of Insurance
Companies (FIDES)
FIDES groups the representative entities of the private insurance companies of the Americas and the Iberian Peninsula, as well as reinsurance companies and institutions
dedicated to the promotion, study and research of the
insurance, and to the professional education.
Since it was founded in 1948 during the II Hemispherical
Insurance Conference held in Mexico, Fenaseg is a FIDES’
affiliated company, to which it contributed by presiding the
meeting of the precursor Insurance Committee, which took
place in Rio de January, in 1947. During the more than 50
years of existence, Fenaseg has participated and contributed for the progression and strengthening of that entity,
having its representatives as President, Vice President, and
President of a Regional Committee and a Technical Committee. As of October, 2003, Fenaseg assumed the presidency of the Globalization Committee, and has elaborated
a working plan to develop studies on themes under discussion in the markets within the FIDES’ jurisdiction.
• Integration of the Insurance Industries
• E-commerce of Insurance and the Legal Trans-border
Insurance Trade
• Robbery and Theft of Motor Vehicles and Merchandises
The United States of America, Mexico, Colombia, Honduras and Chile are the other five countries also taking part
in this Committee.
As of October, 2005, the General Ordinary Assembly held
in Caracas - Venezuela, has elected for two years period –
2005/2007, the new members for the Council of Presidency,
according to the list described below. Fenaseg has been
kept in the presidency of the Globalization Committee.
Council of Presidency (FIDES)
President: Roberto F. E. Sollitto (Argentina)
1st Vice-President and President for the South Regional
Committee: Juan Carlos Delgadillo (Paraguay);
2nd Vice-President and President for the South Regional
Committee: Rodolfo Werhahn (USA);
3rd Vice-President and President for Center Committee
and Caribe: Pablo de La Hoya (Panama);
4th Vice-President and President for Andina Committee:
Roberto Junguito (Colombia).
International Association of Insurance
Supervisors (IAIA)
IAIS was formed in 1994, based on the experience of the
National Association of Insurance Commissioners – NAIC.
About 200 insurance supervisory authorities of more than
130 countries compose this organization, as Members, and
also participate, as Observers, more than 100 institutions/
companies related to the insurance activity of countless countries. One of the IAIS functions is to establish basic international principles and norms to be a reference to the insurance supervisors of all jurisdictions for the development of
control’s systems and practices for the insurance activity
around the world. In 1996, SUSEP became a Member, and
in 1992, Fenaseg became an Observer of the organization.
IAIS is an organization that has a great influence with the
financial authories of the world, exercising equivalent function as the Committee of Basel in relation to the banking
sector, and as IOSCO in relation to the capital market.
Since 2001, the Insurance Core Principals issued by IAIS,
are taking into consideration in the Financial Sector Assessment Program (FSAP) carried out by the World Bank
with the support of the International Monetary Fund, a
programme of adherence evaluation of the countries in
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relation to the principles of safe supervision of the financial activity, issued by the referred bodies and that intervene directly in the definition of the country-risk.
The Annual Conference of IAIS promotes the meeting of insurance supervisors, repsentatives of the insurance industry,
members of the international organizations, insurance professionals and acadamicians of the whole world. Since its entry
as Observer member, Fenaseg participates in such Conferences with the purpose of inquiring about the principles originated from it and the international trends of regulation.
International Meeting of Insurance
Associations (IMIA)
Following the creation and consolidation of IAIS, the private insurance sector that participates of the Annual Conferences of IAIS identified the opportunity to establish a
forum for discussion and exchange of experiences between Insurers Associations from various countries all over
the world. Thus, as of 1996, annually, takes place an International Meeting of Insurance Associations (IMIA), always
just before the IAS Annual Conference.
The meeting is organized by the Insurers Association of
the country where the Conference takes place and deals
with themes related to the regulations under discussion
within IAIS, as well as themes of common interest for its
members.
Currently, participate of IMIA 41 Insurance Associations
from the following countries: Australia, Austria, Brazil,
Bulgaria, Canada, Chile, China, Croatia, Denmark, Finland, France, Germany, Hungary, Ireland, Italy, Japan,
Jordan, Malaysia, New Zealand, Norway, Poland, Romania, Russia, Singapore, Slovakian Republic, South Africa,
Spain, Sweden, Switzerland, Taiwan, The Check Republic, Trinidad and Tobago, United States of America, and
United Kingdom.
In order to facilitate the communication between its members and to allow a quick exchange of experiences and
information has been created a network for information
and consultation by internet named INEX, managed by
the Insurance Information Institute – III, which headquarters is located in the U.S.A.
Integrated Plan for the Prevention
and Reduction of Insurance Fraud
Various initiatives taken by Fenaseg intensify the institutional actions, aiming at reducing the frauds in the insurance operations.
In 2005 and 2006, two additional units of the insurance
denouncement hot-line were implanted in the States of
Pernambuco and Espírito Santo, resulting from the
agreements signed with the local denouncement hotline. The agreements signed in Rio de January remain
operating, and the negotiations to extend these services
into the States of Rio Grande do Sul and Minas Gerais
are going on. It is in phase of definition an explanation
campaign to stimulate the use of the insurance denouncement hot-line. The telephone calls offer guarantee of the
anonymity to the people, and the telephone numbers for
calls are the following:
Espírito Santo
181
Pernambuco
181
(81) 3421-9595
Rio de Janeiro
(21) 2253-1177
São Paulo
181
(11) 3272-7373
0800-156315
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In 2004, the Fraud Quantification System (SQF) was implanted as a milestone in the actions for prevention of
frauds in insurance in Brazil. In its 2nd cycle of data collection, the SQF presented an historical series of fraud indicators in all lines of insurance between 2001 and the 1st
quarter of 2005. The results showed in the SQF are useful
to guide and outline the actions, to evaluate the respective benefits reached, and to show to the society the extension of the frauds incidence against the insurance. The
results were presented through the Guide for Quick Consultation and the Whole Report distributed to the insurance industry and during technical events. The consolidated indicators are presented in the following table.
All lines - From 2001 to 1st half, 2005
Fraud indicators - loss
Questionable Fraud
Identified Fraud
Confirmed Fraud
10.0%
1.6%
1.5%
2,8 bi
28,4 bi
Questionable Loss
Loss
0,5 bi
28,4 bi
Investigated Loss
with Identified Loss
0,4 bi
28,4 bi
Loss
Investigated Loss
with Identified and
Confirmed Fraud
(denied)
Loss
In order to stimulate the improvement and qualification of
those professionals who work in inquiry services to detect the fraud, Fenaseg, in a partnership with FUNENSEG
and the IASIU-Brazil, promoted the 81 hours Inquiry Core
Course in Insurance, in Rio de January and São Paulo,
with the participation of 60 professionals. To clarify and to
profound technical concepts and to spread new ap-
proaches related to the fraud prevention and fight, the
Inquiry Core Course included the following topics: Core
Concepts in Insurance, Prevention Actions to the Fraud in
Insurance, Ethics and Citizenship, Investigative Techniques, Civil and Criminal Law, and Portuguese Language.
Also focused on the matters involving the fraud in insurance, executive technical events are highlighted. In September, 2005, Fenaseg promoted in Rio de January the
Seminar entitled Frauds in Life Insurance Coverages, with
the participation of 150 professionals, which allowed the
debate about the legal and operational aspects of frauds
that affect the Life and Personal Accident Insurances, with
the presentation of case studies related to the fraud involving death and disability.
In a joint action of the Information Technology Committee,
the Claims Committee and the Protection to Insurance
Directorate, the Indicators for Fraud Quantification Seminar congregated 120 professionals of insurance companies, in the Sindiseg/SP, to discuss the concepts and the
application of the fraud quantification in insurance.
In a partnership with FUNENSEG, during the cycle of lectures entitled Knowing the Insurance, some lectures were
carried out with the purpose of approaching the Actions
Plans for Prevention and Reduction of the Fraud in Insurance for 2006 and the benefits reached until then. The
lectures held in Belo Horizonte/MG and Vitória/ES, and
congregated a public of more than 300 professionals.
Fenaseg manages various systems of database, from itself
and from third parties, the contents of which are made available to the insurance industry. The insurance companies use
the information for underwriting and losses adjusting purposes.
The systems made available by Fenaseg allow access to
their own databases and also to the DENATRAN, Commercial Association of São Paulo (ACSP), Fenacor, Fed-
eral Revenue Department, and other entities databases,
through agreements signed with these entities.
Such systems were congregated within Integrated System of
Insurance Technical Data (SISEG), with the following purposes:
• To prevent fraudulent acts against the insurance.
• To improve the underwriting with regard to all insurance branches.
• To improve the procedures for losses adjustment.
Cumulative Registry – Life and Personal Accident Insurance, and Open Pension Funds
Period
Assureds
Beneficiaries
Brokers
Lawyers
Hospitals
Solicitors
Physicians
Total
of Loss
jul/05
aug/05
sept/05
oct/05
nov/05
dec/05
jan/06
feb/06
mar/06
apr/06
may/06
jun/06
1,675
2,626
1,893
1,973
12,862
2,643
1,510
1,226
1,875
3,616
2,301
2,193
4,002
3,910
3,147
2,367
3,358
1,862
1,006
743
1,234
2,711
1,813
1,758
1,508
1,637
1,261
1,331
1,528
1,710
956
742
845
2,107
1,463
1,384
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,675
2,626
1,893
1,973
12,862
2,643
1,510
1,226
1,875
3,616
2,301
2,193
Back
Accumulated
26,026
26,399
29,468
30,497
31,689
39,759
41,434
44,060
45,953
47,926
60,788
63,431
95
National Registry of Claims (RNS)
RNS, one of the databases within the Integrated System of Insurance Technical Data (SISEG), counts on the
adherence of 98% of the companies that operate in
Motor insurance. From July, 2005 to June, 2006, RNS
accumulated data on 7.6 million motor claims and 63
thousand life and personal accident, and open pension
funds claims.
Such database has been used intensely by the insurance companies for underwriting and losses adjustment
purposes, since it helps to cross-check a very large number of information contained in its extensive collective
database.
Apart from the claims information provided by the insurance companies, the access to the system may be simultaneous and integrated to the following databases:
DPVAT, DENATRAN, RENAVAM (BIN FApril, BIN Robbery
and Theft, and State BIN), SNG – National System of Liens,
and São Paulo Trade Association, which made available
the information of SPC, UseCheck, UseSeg and UseScore,
amongst others.
RNS currently stores data related to the claims for the
following branches: Motor, Life and Personal Accident,
and Open Pension Funds. Nevertheless, RNS is ready to
get information from any other insurance lines.
Cumulative Registry – Motor Insurance
Period
Parcial Loss
Irrecoverable
Total
Indemnity
Recoverable
Total
Indemnity
Robbery
Localization
RCFV
Total
jul/05
aug/05
sept/05
oct/05
nov/05
dec/05
jan/06
feb/06
mar06
apr/06
may/06
jun/06
53,709
57,760
61,300
56,928
58,025
59,932
53,847
46,425
59,474
59,320
61,964
55,147
1,473
1,504
1,872
1,122
1,418
1,172
1,183
1,138
1,241
944
1,099
1,099
4,508
4,529
5,195
3,791
3,377
3,450
3,357
3,241
3,853
4,087
4,109
3,553
8,953
10,171
10,399
9,912
9,885
7,800
8,907
8,841
10,559
12,688
10,915
9,017
2,470
2,693
3,618
3,219
2,938
2,536
2,498
2,496
3,619
3,211
3,492
3,380
17,426
19,898
20,063
21,517
21,211
22,161
22,531
19,743
22,291
17,585
21,683
18,519
86,069
93,862
98,829
93,270
93,916
94,515
89,825
79,388
97,418
94,624
99,770
87,335
Accumulated
6,664,204
6,758,066
6,856,895
6,950,165
7,044,081
7,134,936
7,224,761
7,304,149
7,401,567
7,496,191
7,595,961
7,683,296
As of December 31st, 2005
Bonus Center
In operation since July, 2001, the Bonus Center permits
the automatic bonus confirmation amongst the insurance
companies and the improvement of the process of
evaluating motor insurance proposals.
The system permits this confirmation in a rapid and safe
way, via internet and completely automated, dispensing
the use of paper documents and supported by efficient
protection mechanisms.
The Bonus Center also takes rigorous control of the replies
to the consultations, with permanent exchange of
information in order to solve the questions arising form
each situation, under the Fenaseg management.
Twenty-six insurance companies have already adhered to
the system, representing more than 98% of the total
premiums in the motor insurance market.
From July, 2005 to June, 2006, 2.1 millions of consultations
have been carried out, being eight hours the average time
for reply, and the use of such system helped the insurance
companies to save nearly R$ 21.8 million.
Number of
Consultations
Carried Out
jul/05
198,510
aug/05
212,796
sept/05
193,764
oct/05
170,996
nov/05
171,773
dec/05
195,015
jan/06
162,275
feb/06
158,859
mar/06
185,739
apr/06
162,171
may/06
195,198
jun/06
171,747
Total
2,178,843
Period
Average Time for Reply
7 hours and 40 minutes
—,,,,,,,,,,,,,,,,
Savings
Amount
(R$ thousand)
2,050,96
2,889,49
1,987,85
1,628,71
981,23
1,797,86
1,756,06
1,242,50
1,413,74
1,850,51
2,318,80
1,872,14
21,789,84
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Automatic Information Exchange System
(SIAC)
As from July, 2002 the insurance companies began to
count on a fast communication tool for combating frauds
and obtaining information relating to insurance and claims,
the Automatic Information Exchenage System (SIAC).
SIAC allows the exchange of information amongst
insurance companies using the internet as the means of
communication, and manages the consultations and
replies with regard to insurances, claims and any other
kind of subject matters presented in the form of free texts,
so that no consultation remains unanswered
Number of replies received
Number of Insurance Companies
27,316
Places for inspection
7
Total of vehicles in transit registred in the SINIVEM
In order to satisfy the requirements of the SUSEP Circular
no. 202/2002, dated September 26th, 2002, amended by
Circular no. 207/2002, dated November 27th, 2002, which
makes mandatory the previous consultation of the re-registered brokers register with the purpose of accepting
proposals and payments of brokerage commissions,
Fenaseg and Fenacor signed an agreement for the implementation of the Brokers Data Bank, which was made
available to the insurance companies from July, 2003.
The System has the purpose of allowing insurance companies to consult the Insurance Brokers Data Bank so
as to check if they are regularly registered, to obtain
registry information and copies of the respective registry
documentation.
The insurance companies have access to the data in the
following way:
- Direct individual consultation;
- Selection of the list of all the brokers of an insurance
company;
- Individual selection;
- Download option of file containing all the data of specific brokers.
From July/05 to June/06
Total of data downloads
From July, 2005 to June, 2003, the system presented the
following figures:
28
Brokers Data Bank (BDCOR)
Total of data/images download
High-resolution optical equipment are wired to the network for processing the images and databases research,
interconnected via internet.
2,457
Total of consultations
The operating tool of the Frontier Project is the National
System of Identification of Vehicles in Transit (SINIVEM)
and the System of Types and Models of Vehicles (SIMOV),
that uses artificial intelligency technology (neural networks)
and makes possible to identify the moving vehicles through
optical reading of their licence plates, and online verifications in the databases of insurance companies and
DENATRAN, through the INFOSEG.
The system is operating since January, 2003, during 24
hours a day, 7 days a week.
From July/05 to June/06
Number of consultations carried out
Frontier Project
9,737
361
324
9,748,494
1,955
Robbed vehicles identified
Veícles conidered as questionable frauds
471
Total of consultations carried out
46,397
by the Insurance Companies
Distribuição of vehicles in transit’s volume
per places for inspection
Rosário do Sul
852
Foz do Iguaçu
16,175
Guairá
1,158
Mundo Novo
130
Vilhena
676
Epitaciolândia
78
302
Guaicurus
The information on the database of the Frontier Project are
available to Senasp, state bodies in charge of law enforcement, Federal Revenue Department, DENATRAN and
DNIT through agreements.
Agreements with Governmental Bodies
Related to the Frontier Project
• Ministry of Justice – National Secretary of Public Safety,
dated June 16th, 2005 (1 year validity);
• Ministry of the Cities/National Department of Road Traffic
(DENATRAN), dated August 10th, 2004 (2 years validity);
• Federal Revenue Secretariat, dated November 30th, 2004
(5 years validity).
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National System on Liens (SNG)
In 1998, Fenaseg singed agreements with all representative
entities of the financial sector that finance the purchase of
vehicles:
• Brazilian Association of Car Pool Administrators (ABAC);
• Brazilian Association of Commercial and Multiple Banks
(ABBC);
• Brazilian Association of International Banks (ABBI);
• Brazilian Association of Leasing Companies (ABEL);
• National Association of Credit, Financing and Investment
Institutions (ACREFI);
• National Association of Financial Services and Car Pool
of the Automobile Industry (ANEF);
• National Association of Factoring Companies (ANFAC);
• Brazilian Federaion of the Bank Associations
(FEBRABAN);
SNG has consolidated due to the great contribution to the
eradication of the frauds in the registry on financial liens –
Statutory Lien, Commercial Leasing and Retention of Title
and, more recently, Vehicles Morgage, with the possibility
to be used by companies affiliated to these Associations
or not, since they are duly registered in the DETRANs to
carry out such liens.
The SNG’s acceptance may be measured through the
number of participating companies, more than 5,500, by
25 DETRANs already integrated, of which 22 are operating
the system in mandatory regime, and through the volume
of lien insertions above the 5,300,000 in 2005, representing
the significant mark of 99% of the vehicles financing
operations in the country.
The constant participation in the meetings with DETRANs,
notably those of the National Association of the DETRANs
(AND) and with the major financial and car pool companies,
allows its constant improvement.
SNG contributed, equally, to the agility and safety of
the procedures, conferring reliability to the documents
of vehicles ownership, providing to integrated DETRANs
savings in the documents guard and elimination of risk
in the lien write off, apart from reducing the
administrative costs.
The use of SNG within the insurance industry is also
increasing, notably to deal with the settlement of losses.
More than 380,000 consultations have been made to the
SNG by a countless of insurance companies during 2005.
Currently, SNG has 5,685 registered companies with the
following characteristcs:
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Number of Registered
Companies
Users
Banks
Car Pools
Banks Assemblers
Financiers
Leasing
Others entities
Total
143
312
6
85
74
5,065
5,685
3%
5%
0.1%
1%
1%
89%
100%
Usage
55%
18%
10%
9%
3%
5%
100%
Statement of the Operations
in 2005
States
São Paulo
Lien Insertiton
Lien Write off
1,958,100
250,275
Paraná
535,474
62,984
Minas Gerais
533,414
93,212
Rio de Janeiro
349,094
105,315
Rio Grande do Sul
364,980
179,410
Goiás
191,913
41,937
Pernambuco
146,775
74,766
Santa Catarina
390,492
240,147
Mato Grosso
109,021
52,209
99,986
29,561
Mato Grosso do Sul
Bahia
200,021
129,105
Maranhão
70,903
29,969
Espírito Santo
59,494
50,216
Tocantins
37,133
21,856
Piauí
44,148
34,497
Rio Grande do Norte
52,416
43,793
Ceará
96,233
88,657
1,577
240
Pará
58,136
39,283
Sergipe
19,003
16,880
Paraíba
29,644
28,075
9,455
7,359
Distrito Federal
Amazonas
Total
5,357,412
1,619,746
In 2005 the DETRANs of Amazonas, Pará, Paraíba and
Sergipe were integrated in the SNG. In the first half of
2006, the DETRANs of Acre and Roraima initiated their
operations with SNG. Thus, SNG currently covers 99% of
all liens on land vehicles. By the end of 2006, all the 27
DETRANs will be operating with SNG.
SNG
25 DETRANS are integrated
99% of all liens on land vehicles in Brazil
To be integrated in the
second half of 2006
Alagoas
Amapá
Integrated
Amazonas
Acre
Bahia
Ceará
Distrito Federal
Espírito Santo
Goiás
Maranhão
Mato Grosso
Mato Grosso do Sul
Pará
Paraíba
Pernambuco
Piauí
Paraná
Rio de Janeiro
Rio Grande do Norte
Rondônia
Roraima
Rio Grande do Sul
Santa Catarina
Sergipe
São Paulo
Tocantins
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99
New Projects and/or Ongoing Projects
RNS Project – General Insurance
Inclusion of the insurance claims records related to General Insurance in the RNS.
In Studies’ phase
Benefits Generated by the Use of the RNS
To establish rules and formulas (metric) for measuring the
benefits generated by the RNS for the insurance companies and implementing monthly reports for their divulgation.
Some metrics implementation phase for the results
assessment.
Risk Accumulation Database
Database for the storage of basic information (CPF, insured capital, effective date, expiry date and code of the
insurance company) related to the policies and contracts
of life and personal accident insurances, and open pension funds, so that the amount at risk per person (CPF)
can be known.
The project has already been submitted to the CPPV and
is waiting for the approval/comments, in order to be then
submitted to the Directorate.
RNS-Motor Insurance – Changes
During the Committee for Motor Insurance’s meeting held
on August 17th, 2005, the Working Mixed Party has been
formed. The working party is composed of members of
the Committes for Motor Insurance, Claims and Information Technology (IT) for RNS Study and Re-Evaluation.
The working party started the jobs in September, 2005
and the conclusion was in June, 2006.
The Directorate approved the Project of Changes for the RNSMotor Insurance during a meeting held on July 12th, 2006.
The services provider is performing the changes. The new
functionalities shall be ready by the end of the year.
Accident Vehicles Database
Database for the storage of the records of vehicle accidents occurred in the cities and on the roads. The data
shall be obtained from the DENATRAN, DETRANs of each
State, the Federal Highway Policy and other traffic control
and fiscalization bodies.
In Studies’ phase.
Data Confirmation System (SICON)
A system for data confirmation on CPF and CNPJ.
Death National System (SINOB)
A system for data collection on deaths.
This system is in phase of implementation. It shall be
made available in October, 2006.
Chambers and Committees
Participation of Fenaseg in Committees and Chambers
organized by other entities, as described follows:
Capital Market Director Plan –
Executive Committee
Chairman: João Elisio Ferraz de Campos
Fenaseg
Deputy: Luiz Peregrino Vieira da Cunha
Fenaseg
Purpose: To discuss, through a set of actions to be taken
by the Government and the Private Sector, the proposals
and directives that aim at retaking the productive activity
through the capital market.
Appeals Council on the National System
of Private Insurance, Open Pension Funds
and Capitalization (CRSNSP)
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Chairman: Salvador Cícero Veloso Pinto
Fenaseg
Deputy: Ricardo Bechara dos Santos
Purpose: To judge, at administrative last resort, the appeals for decisions made by Superintendency of Private
Insurance (SUSEP) and IRB-Brasil Resseguros S.A., in the
cases specified in the legislation.
National Health Council (CNS)
Ministry of Health
Chairman: Solange Beatriz Palheiro Mendes
Fenaseg
Deputy: Almir Adir Gentil
Purpose: To develop strategies and to control the execution for the National Health Policy in federal scope, to define models and parameters for medical services; to ex-
press with regard to the National Health Policy; to decide
with regard to the state health plans and divergences
raised by the State and Municipal Health Councils; to establish directives to be taken into consideration in the health
plans elaboration, before the epidemic characteristics and
the services organization; to accompany and to control
the activities of the health private institutions and the process for development and the scientific and technologic
inclusion within the health sector.
National Accrediting Organization (ONA)
Chairman: Solange Beatriz Palheiro Mendes
Fenaseg
Deputy: Maria da Gloria Faria
Fenaseg
Purpose: To promote the accrediting process aiming at
improving the quality of the health care in our country and
the productivity of hospitals, ambulatories, specialized
clinics etc., and to control the impact of the costs of service on public and private budgets.
Chamber on Supplementary Health
Purpose: To discuss and to prepare the norms related to
supplementary health.
Chairman: Marcio Serôa de Araújo Coriolano
Bradesco Saúde
Deputy: Marco Antônio Antunes da Silva
Sul América Seguro Saúde
Technical Chambers – ANS
ANS - the National Agency of Supplementary Health has
created the Chamber of Supplementary Health, with representation of all the health service providers and other
representatives from other segments involved for discussing and debating about polemic themes of regulation of
the health insurance plans. From the Chamber of Supplementary Health were created Technical Chambers to debate specific themes such as mental health, registration
information, financial guarantee, accountancy questions
etc. Fenaseg is represented in all of such Committees.
Technical Chamber for Contracting
Purpose: To establish technical criteria and operational
routine in order to guarantee the rendering for the assistance service contracted by the beneficiary and to define
the minimal conditions of the contractual instrument.
Technical Chamber for Revision
of the List of Dental Procedures
Purpose: To discuss the proposals for amendments in
the list of dental procedures.
Chairman: Josias Paulino da Costa
Deputy: Sandro Leal Alves
Fenaseg
Committee on Standardization of the
Information Exchange in Supplementary
Health (COPISS)
Purpose: To promote the development and the improvement of the TISS model and the electronic exchange of
information amongst the health plans operators, the health
service providers and the ANS, through participation of
the various sectors involved in the supplementary health,
as the health plans operators, the health service providers, and the ANS, the Information Technology Department
of the Health Unique System (Datasus), apart from the
invited persons chosen amongst entities, scientists an
technicians with knowhow in the area.
Chairman: Sônia Bastos de Souza
Deputy: Rosimeire Ishiguro de Lima
Sul América
FIDES – Inter-American Federation of
Insurance Companies
Person Responsible: Ricardo de Sá Acatauassú Xavier
Fenaseg
Brazilian Mercoseguros Committee
Person Responsible: Ricardo de Sá Acatauassú Xavier
Fenaseg
Pan-American Association on Bonds
and Guarantees
Person Responsible: João Gilberto Possiede
J. Malucelli Seguradora
Thematic Chambers of the National
Council on Traffic Road (CONTRAN)
Questions related to Vehicles
Coordinator: Ricardo de Sá Acatauassú Xavier – Fenaseg
Deputy: Paulo Araripe – Fenaseg
Legal Effort
Coordinator: Mário Viola – Fenaseg
Deputy: Paula Guitton – Fenaseg
Working Party for Studying and
Developing the Warehouses Insurance
Chairman: Wady José Mourão Cury
Ministry of Agriculture
Council of Agribusiness
Chairman: João Elisio Ferraz de Campos
Fenaseg
Deputy: José Américo Peón de Sá
Fenaseg
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101
Purpose: To elaborat proposals for developing the
agribusiness.
Thematic Chamber on Farming Financing
and Insurance
Chairman: Wady José Mourão Cury
Cia. de Seguros Aliança do Brasil
Ministry of Finance
Guardian Council of the Fund to Cover
Deficits Caused by Salaries Variation –
CCFCVS
Chairman: José Lopes Coelho
Deputy: Álvaro Arantes Sobrinho
President of the Technical Committee on Home/Housing
Insurance of Fenaseg
Appeals Commttee of the Home/Housing
Insurance of the Financial System (CRSFH)
Chairman: Antonio Carlos Gonçalves Silva
Áurea Seguros S.A.
Deputy: Álvaro Arantes Sobrinho
President of the Technical Committee on Home/Housing
Insurance of Fenaseg
IRB-Brasil Re
Board of Directors
Members:
Audit Council
Members:
Antonio Carlos Nascimento Sanches
Lucio Antônio Marques
Deputies:
Henrique de Jesus Coelho
Mário Urbinati
Porto Seguro Cia. de Seguros
Technical Committee
Members:
Marcus Viana Clementino
José Luiz Osório Nunes
Itaú Seguros S.A.
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Mario Celestino Bicalho de Figueiredo
Deputies:
Luiz Augusto Momesso
Arlindo da Conceição Simões Filho
Carlos Eduardo Corrêa do Lago
Autoire Companhia de Seguros
Working Party of Guarantee Insurance
organized by IRB-Brasil Re
J. Malucelli Seguradora
Áurea Seguros
SUSEP
Actuarial Committee
Anna Paula Nardi Almeida
Sul América Capitalização
Sinval Chaves de Oliveira
Special Committee on Risk Affairs
Purpose: To develop a methodology in order to define the
insurance company risk based capital.
Denis dos Santos Morais
Brasil Veículos
Ricardo Brito Monteiro
Itaú Seguros
Samuel Monteiro dos Santos Júnior
Bradesco Seguros
Sergio Pablo Czemerinski
Sul América
Insurance Technical Committee for
Underwriting Risks Affairs
Purpose: To discuss the definition model for underwriting risks based capital.
Consultant: David Sommer
Sergio Pablo Czemerinski
Sul América
Special Committee on Accounts
Roberto Chamberlain da Costa (member)
Bradesco Seguros
Laênio Pereira dos Santos (member)
João Augusto Santos Xavier (member)
Caixa Capitalização S.A.
Denis dos Santos Morais (deputy)
Brasilveículos Companhia de Seguros
Legal Area
The mission of the Legal Consultancy Sector (COJUR) and
the Legal Assistance Sector (ASJUR) is to orientate the
areas of Fenaseg and the insurance industry on legal question when necessary. Thus, their activities are developed
based on the gathering and dissemination of information,
accompanying of bills and amendments, coordination of
collective, legal or administrative actions of law, analysis
and preparation of contracts, conventions and agreements,
and also the preparation and monthly distribution of the
Legal Report.
Amongst the legal suits coordinated by the Legal Area, is
highlighted the Direct Action of Unconstitutionality no. 3631,
aiming at suspending the application of the term “and the
insurance company” contained in Article 15, § 1, XI, of
Law no. 2657, dated December 26th, 1996, of the State of
Rio de January, which disposes on the Value-Added Tax
on Sales and Services (ICMS). Even with no preliminary
order, the insurance industry expects the insurance companies are not considered as ICMS taxpayer in case of
the salvage lien.
The Public Civil Suits involving market value and
determined value, in various States of the Federation,
remain handling in the Supreme Court. The Suits
n o. 1 9 9 9 . 6 1 . 0 0 . 0 5 7 1 5 5 - 3 , 1 9 9 9 . 6 1 . 0 0 . 0 5 7 2 2 4 - 7 ,
1999.61.00.057225-9, filed by the Public Prosecution Service of São Paulo in the face of various insurance companies were judged unfounded, making possible the commercialization of Motor Insurance Policies in the two modalities in that State.
Various suits were filed in the face of Fenaseg, aiming at
gathering information with regard to the existence of insurance in the most diverse branches. As a reward for all
endeavours, such suits have been extinguished after the
questions entry to the research made within the insurance industry aiming at knowing if the insurance companies have the required information in their registries.
The handling of these and other suits of the industry interest were accompained and informed to the insurance industry by means of bimester reports, made available by
electronic way.
The Seminar “Operational and Legal System of the Insurance”, held from September 22th to 25th, 2005 in Angra dos
Reis, was coordinated by the legal area and counted on the
participation of the Ministers of the Superior Tribunal of Justice and Chief Judges and Judges of the Federal Regional
Court for the 2nd, 3rd and 4th Regions and the Supreme Court.
The Seminar represented an important way to exchange
information and experiences, providing a bigger
knowledgement about the insurance industry operation.
During 2005, the legal area received a great number of
written notices of the Judiciary Branch, the Police Stations
and other entities, aiming at gathering information related
to the existence of insurance and claims and, depends
on the situation, the name of the beneficiaries. Seeking
to collaborate with such bodies, various circulars were
sent to the industry and the respective questions sent to
the Public Power.
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In a coordinated way and joint and continuous work, the
Permanent Committe for Institutional Affairs (CPAI), the
Legal Board and the Director for Governmental Relations
of Fenaseg analyse, point out distortions and recommend,
by means of opinions and amendments sent to
parliamentaries, changes in the Bills, the Proposals for
Constitutional Amendments and the Provisional Measures;
in the procedural steps of the matters and in other actions
that are developed in the National Congress and in the
State Legislature. The attached sheets highlight some of
these Projects.
The Director of Governmental Relations is in charge of representing Fenaseg before the Public Powers; accompanying daily the handling of the propositions presented in
the Legislative Houses; presenting amendments, recommendations and solutions to the authors and reporters
of the matters presented in the Chamber and in the Senate, accompanied by Fenaseg; assisting Fenaseg in respect of the Legislative Proceedings and Parliamentary
Activities, by means of accompanying of the sessions of
the Plenary and Technical Committee within the Legislative Branch; managing the registry and updating the information with regard to the matters of interest to the insurance industry; apart from providing the sending and
the accompanying of the proceedings that are handling
within the Executive and Judiciary Branches.
SISPROLEG
The System for Accompanying Bills, coordinated by the
Board of Governmental Relations, permits the registry
and the accompanying of all the Bills of interest to the
industry, offering subsidies and support to the works performed by the Legal Board and the Board of Governmental Relations, as well as the technical and strategic
areas of Fenaseg.
On the other hand, SISPROLEG constitutes the database
for the performance of the Permanent Committee for Constitutional Affairs – CPAI.
Insurance Magazine
E-mail Insurance
The oldest insurance periodical in Brazil, the Insurance
Magazine, which dates back to the 1920s, is the official
publication of Fenaseg. In its quarterly editions the magazine touches on the most up to date questions relating to
insurance, reinsurance, open pension funds and capitalization, in articles by insurance experts and journalists.
Fenaseg also edits the “E-mail Insurance”, a publication
directed to a captive public. Published on a monthly basis, or when necessary, it is a modern version of the former
“Fax Insurance”, to which were included the means of
communication via internet. However, it maintains its purpose of disclosing corporative information, urgent news,
events promoted by Fenaseg or by Trade Associations,
and the agenda of the Technical Committees. Currently
accessed by more than 1,500 users, including executives,
experts and other professionals of the market, the “E-mail
Insurance” has amplified its accessibility to cover the
various levels of executives of insurance, capitalization and
open pension funds companies, apart from other entities
of the sector.
Periodically, the Insurance Magazine goes through a process of graphic and visual modernization, aiming at adjusting it to the current models of a journalism directed to
business, without losing, however, the characteristics of
the publishing definitions of the magazine. The purpose
of such modernization is to make it more efficient and in
its role as a corporate publication opened to treat other
matters of economical and cultural nature, as a way to
straighten ties with an increasing number of readers.
The magazine is distributed to international reinsurers,
insurance brokers, class and representative entities of the
sector, university libraries, opinion formers, liberal professionals connected to the insurance industry, personalities
and authorities representing the Three Branches of Government, cultural institutions and advisory bodies of the
most diverse specialities.
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Fenaseg in Action
This is the newest communication channel of Fenaseg
with the market. Created in March, 2006, the Newsletter
has the duty to maintain the companies associated to
Fenaseg, as well as the entities and other professionals
of the sector informed, on monthly basis, about the activities and actions developed by all of the working areas of
the Federation. “Fenaseg in Action” is distributed in electronic version to a public of more than 1,500 users.
Homepage
During 2006, the Fenaseg website went through a new
graphic and editorial modernization, with the purpose of
offering to the users a more agile and efficient navigation.
“Fenaseg on-line”, giving continuity to the line adopted of
giving priority to information on insurance industry in real
time, counts on more space, inclusive for images.
Fenaseg website also counts on the following permanent
sections: “Fenaseg” - shows the institutional and statutory profile of the Federation, organizational chart, composition of the councils and board; “Publications” – such as
the Social Statement of the insurance activity, open pension funds and capitalization in Brazil, Fenaseg Report,
and the Guides published by the entity; “Presidency” –
profile of the chairman of Fenaseg, including professional
trajectory and articles he wrote and were published in the
press; “Services” – such as SIAC, SNG, SISEG and FIPE
Table; “Events” – of Fenaseg and/or those in which there
is the participation of its representatives, apart from the
insurance industry’s events in general; “Insurance Industry” – updated information regarding to the National System of Insurance, Mercoseguros, Fenacor, FUNENSEG and
companies that compose the setor; “Statistics” – on In-
surance, Open Pension Funds, Capitalization and Reinsurance. Access this website on: www.fenaseg.org.br.
Intranet
In addition to expanding the means of its external communication, in 2001, Fenaseg launched the interdepartamental communication tool, by means of an electronic “Intranet” page. Since that time, apart from universalizing contacts and giving instantaneity to the diffusion
of the more important facts with regard to administrative
and functional life of Fenaseg, the electronic intranet page
provided space to disclose social and cultural themes,
apart from improving the communication amongst the
Fenaseg staff, thus contributing to a better quality of the
interpersonal relations in the company.
Wall Newspaper
Launched in May, 2004, the Wall Newspaper amplified and
consolidated the internal communication policy of Fenaseg,
integrating the staff which work is carried out without the
use of computer. Some of the information transmitted through
intranet is propagated through the Wall Newspaper with a
language suitable to this communication channel.
Library
With the attention directed to the speed of the changes
generated in this Age of Knowledge, the Luiz Mendonça
Library has endeavoured to offer to the Insurance Industry
products and services in real time.
The library has a precious bibliographical collection
composed of books about insurance, related subject
matters, technical manuals, year books, collection of Laws
of Brazil, national and international periodicals, reference
works, rare works about the history of insurance and
entertainment books of various literary genres.
The Luiz Mendonça Library has been assimilating the new
technologies with great attention, which allow it to make
available its database on insurance and correlated subject
matters on the Fenaseg website. In addition to the services
traditionally offered to the industry, the Fenaseg Library
also began to make available the access to the database
of the Statistics System of SUSEP (SES). The Fenaseg
Library also offers summaries of periodicals, on-line
newsletter and service of alert.
The requests for publications not belonging to the Fenaseg
collection can be located through interchange between
Libraries and Documentation Centers.
Queries and requests for information can be sent through
the following e-mail: [email protected].
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DPVAT Convention
Law no. 6.194, dated December 19th, 1974, instituted the
compulsory “no-fault” insurance to cover bodily injury
caused by automotive land-road vehicles or by its cargo,
to persons transported or not.
In 1986, the Government saw the need to link the
compulsory insurance to the annual licensing of vehicles, creating the Unified Transit Document (DUT),
for the better control and inspection of the payment
of licensing charges and taxes of the national fleet
of vehicles.
To comply with this new modality of operation of compusory
insurance, the insurance companies signed an agreement
in which Fenaseg was named the manager to administer
its intersts in the join and solidary operation of the compulsory insurance of DPVAT, which is composed of a pool of
63 insurance companies. This task has been implemented
with success by Fenaseg for 20 years.
In 2005, when DPVAT embraced all categories of vehicles –
passenger car, motorcycle, cabs, vehicles for colletive transportation, trucks, pickup trucks, earthwork machine and mobile
equipment in general (if licensed), the premiums amounted to
R$ 1.952 billion, corresponding to 31,344,526 insured vehicles.
From this total amount, 50% were transferred immediately to the Federal Government, being 45% to the National Health Fund of the Ministry of Health, as disposes
Law no. 8.212/91, amended by Law no. 9.503/97, to finance
medical and hospital assistance to the victims of road
traffic accidents, and 5% to the National Road Traffic Department (DENATRAN), of the Ministry of the Cities, as
disposes Law no. 9.503/97, to finance the campaign for
prevention of accidents and education in the road traffic.
In 2005, DPVAT paid out 175,021 loss indemnities, amounting to
R$ 707.6 million, being 55,024 for Death Benefits, 31,121 for Permanent Disability and 88,876 for Medical Assistence Expenses.
Activities of the Regional Trade
Associations*
* The events that took place in the Trade Associations in a
partnership with Fenaseg are found in “Events”.
Rio Grande do Sul Trade Association
kilograms of food products and 110 blankets, which were
distributed amongst Lar Espírita José Simões de Mattos,
Sociedade Espírita Francisco de Assis, Creche Criança
Esperança and Vila dos Papeleiros.
President: Miguel Junqueira Pereira
TECHNICAL ACTIONS
INSTITUTIONAL ACTIONS
The Citizen Action has celebrated its 6th Year Actuation
Anniversary in the market. This program enables, by means
of campaigns, the mobilization of the market and the interaction with the community, developing the solidarity
and the social liability.
During December, 2005, the campaign collected 2.040
kilograms of food products and 144 toys, delivered to the
following charity entities: Creche Esperança that takes
care of 81 children and Lar Espírita José Simões de Mattos
that assists all age brackets.
During June, 2006, the donations collected were the following: 3,000 pieces of clothing and pairs of shoes, 800
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Coordination of the Agenda on Events of the Insurance
Industry in the Rio Grande do Sul. The agenda embraces
the activities of this insurance industry and defines the
thematic that shall be developed by each organization.
Such agenda can be found at the www.sindesergs.org.br.
Some of the subjects dealed by the Working Party:
The Rio Grande do Sul Trade Association and the Secretariats of Justice and Public Safety renewed the agreement for fighting against the robbery and theft of vehicles
within the State.
The Commandant of the Capital Police Command, Colonel Edson Ferreira Alves, presented the proposal for Implantation of the Project on “Control of Vehicles in Occur-
rence by the Policemen”. This project seek to integrate
the actions and initiatives of several person or public bodies, belonging, or not, to the police with the purpose of
adding efforts and rationalizing the use of the public resources, in benefit of the development on efficient measures to reach its purpose.
Support to the National Week of Road Traffic - 2005 and the
Campaign “Keep calm in the road traffic” – Caxias do Sul City.
Pernambuco Trade Association
President: Mr. Mucio Novaes de Albuquerque Cavalcanti.
EDUCACIONAL ACTIONS
2005
Institutional Cooperation Program – Lecture on Cargo Insurance for the Business Administration Course – Foreign
Trade – Universidade de Caxias do Sul (UCS/RS) - July/
2005 – 50 attendees
Updating Project – Cycle of Lectures: Lecture Engineering Risks Insurance – October/2005 – 56 attendees
The Knowledge and the Welfare in the Business World, in
Caxias do Sul – November/ 2005 – 68 attendees
2006
Cultural Project – Cycle of Lectures: Cargo Insurance –
March/2006 – 102 attendees
Cultural Project – Cycle of Lectures: Aspects of the New
Rules for Life and Personal Accident Insurances – April/
2006 – 386 attendees
Cultural Project – Cycle of Lectures: Reflections between
Productivity and Ethics – Reflexes within the Insurance
Industry – May/2006 – 90 attendees
RELATIONS WITH THE INDUSTRY
Bulletin SEGUROS-RS for national distribution, related to subjects, news and clarifying issues of the insurance industry.
• Implementation of the Denouncement Hot-Line in
Pernambuco, exclusively against the fraud in insurances,
by means of an agreement signed by Fenaseg and the
Secretariat of Social Defense of Pernambuco in a partnership with the ONG Pernambuco Action against the
Crime, with the support of Sindiseg/PE.
• The Sindiseg/PE 50 Years foundation.
In order to remind this date, Sindiseg is producing a magazine that shall focus on the relevant facts happened during these 50 years and present the Insurance Story in
Pernambuco. In addition, the Trade Association shall be
homage rendered for its fiftieth anniversary, during a solemn session at the State Legislature.
• The Secretariat of Social Defense (SDS) and Sindiseg
signed the Agreement 004/2006-SDS on Technical and
Operational Cooperation with the purpose of making viable the “Integrated Plan for Fighting and Recovering
Robbed and Stolen Vehicles in the Great Recife City”.
The preparation of the Vehicles Unique Patio Agreement
is going on, and has as the purpose of disciplining the
guard, releasing and restoring all and any vehicle object
of theft, robbery, misappropriation, swindle, receiving of
robbed and stolen vehicles or any other patrimonial delict,
recovered by the safety bodies of the State of Pernambuco.
EDUCATIONAL ACTIONS
Special lunch to honour the insurance professionals of Rio
Grande do Sul, with more than 50 years of continuous
work rendered to the insurance industry.
• After negotiations with SUSEP, Sindiseg obtained the
transference of the 6th floor of the Guararapes Building,
at Santo Antônio neighborhood to the Recife City Hall,
for the Frei Caneca Radio Headquarters, which has an
educative character. Such agreement was signed at
the FUNENSEG’s Headquarters, in Rio de January, by
the major of Recife, Mr. João Paulo Lima e Silva, and
the Superintendent of SUSEP, Mr. Renê Garcia.
Dinner for celebrate the 110 years of the Insurance Companies Trade Association. A special homage was rendered to the women’s participation and contribution into
the several segments of the National System of Private
Insurances and to the former Directors that until some
time ago, used to dedicate part of their time to the Trade
Association’s causes, while they were members of the
current Directorate.
• The Trade Association has destined part of its sponsoring budget for the Insurance Friend Program, which is
led by FUNENSEG (Pernambuco’s nucleous), with the
co-operation of this Trade Association and Sincor/PE,
and the support of the main insurances companies of
the State of Pernambuco. Such program aims at giving
opportunity to youths from low-income families, qualifying them to work within the insurance industry.
Meetings with lunch, with the pronouncement of the Presidents of the Insurance Companies and the participation
of several authorities, Directors of Associated Companies,
Delegates, Brookers and other Representatives Entities.
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• Sindiseg has supported the seminar “The Knowledge
and the Welfare in the Business World”, promoted by
FUNENSEG.
• Debate held at the Juvevê Communitary TV, about Safety
and Insurance with the presence of Mr. Ramiro Fernandes
Dias, Vice-President of the Sindiseg/PR, Colonel Altair
Mariot, Commandant of the BPTRAN and Dr. Itiro
Hashitani, Titular Delegate of the Vehicles Robbery and
Theft Police Station.
• The President of Sindiseg, Mr. Mucio Novaes, was
awarded the “2005 Year State Business Leader Premium”, at the Credicard Hall, in São Paulo. Such Premium is promoted by the Gazeta Mercantil Business
Leaders Forum.
• The Technical Committee on Losses visits the Renault
Assembly Manufacturing.
• The television program “Insurance Moment”, exhibited
at the TV Clube/Band every Saturdays at 10:45 am, has
completed one year in June 2006, emphasizing all the
happenings within the insurance industry of Pernambuco.
• A confraternization lunch with Dr. César Saad, Technical
Director of IRB-Brasil Re. as special invited guest. The
event also counted on the presence of nearly 100 insurance market representatives of the Paraná State.
CULTURAL ACTIONS
• Interview held at TV Educativa with Mr. Ramiro Fernandes
Dias, Executive Director of Sindiseg/PR with regard to
the Rights and Duties of the Assured when contracting
the Motor Insurance, and about the DPVAT Insurance.
• In December/2005 the Lecture “Professional Ethics” was
given by Mr. Reinaldo de Oliveira, and was followed by
the play “A Saturday in 30” presented at the Valdemar
de Oliveira Theater in order to celebrate another year of
partnership amongst Sindiseg, Sincor and FUNENSEG.
President: Mr. João Gilberto Possiede
• meeting with Dr. Itiro Hashitani, Titular Delegate of the
Vehicles Robbery and Theft Police Station (DFRV) in order to debate the relevant data of the segment with
respect to the actions that the Police Station has been
performing in Curitiba and metropolitan area.
INSTITUCIONAL ACTIONS
EDUCATIONAL ACTIONS
• The election for the Board of Directors of the Trade Association for the period 2005/2008 took place at the Rayon
Hotel. The event counted on the presence of nearly 100
representatives of the insurance industry, as well as Dr.
João Elisio Ferraz de Campos, President of Fenaseg,
Dr. Renê Garcia, Superintendent of SUSEP and Dr. Robert Bittar, President of FUNENSEG.
• Sindiseg/PR and Sincor/PR have promoted a debate in
Cascavel, which topic was Insurance for the local business community.
Paraná Trade Association
• The Legal Committee of the Trade Association was
implemented – instituted by Mr. João Gilberto
Possiede and presided by Dr. Luiz Carlos Checozzi
with the purpose of appreciating the technical-juridical nature matters, analysing and deciding about the
themes of common interest to the insurance companies that actuate in Paraná.
• Meeting held in the Paranaguá Port with Mr. Eduardo
Requião, Superintendent of the Paranaguá Port and the
Sindiseg/PR with the purpose of obtaining the explanations about the necessary steps to provide civil liability
insurance coverage to the Paranaguá Port. The meeting
also counted on the presence of Mr. João Gilberto
Possiede, President of Sindiseg, Ms. Maria Elena Bidino,
Technical Director of Fenaseg and Mr. Marcos Couto,
President of Ace Seguradora.
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• Course about Vehicular Identification held in Curitiba, at
the Civil Police School, providing training for 50 civil policemen of the Vehicles Robbery and Theft Police Station (DFRV).
• Partnership contract renewal of the Sindiseg/PR and
UFPR, regarding to the agreement between UFPR and
FUNENSEG, with the participation of the Sindiseg/PR in
the offer of scholarships for the Nucleous of Studies on
Civil Law of the Insurance.
• Another similar course about Vehicular Identification was
held in Londrina, at the Civil Police School, providing
training for 25 civil policemen from the Vehicles Robbery and Theft Police Station (DFRV).
Minas Gerais Trade Association
President: Mr. Alberto Oswaldo Continentino de Araújo
INSTITUCIONAL ACTIONS AND RELATIONS WITH
THE INDUSTRY
• In July, 2005 Sesmig, by means of its Marketing Directorate, has prepared a Strategical Communication Plan
that after the Directorate approval, and with the support
of Fenaseg, has been carried into effect in Belo Horizonte,
from September/2005 to March/2006.
• The purpose of the project was to orientate the insurance customer to strenghten the insurance industry image, to provide the society with information about the
industry and made visible the happenings and events
carried out by the representative entities of the insurance sector in Minas Gerais.
The Strategical Communication Plan was composed of
five fronts, as follows:
• Press Consulting;
• Institutional Newspaper “Insurance on the Agenda”;
• Radio Program “Living Safe” at the Itatiaia Radio;
• Sesmig’s fortnightly column published at the Vehicles
Supplement of the Estado de Minas Newspaper;
• Electronic Clipping.
LIVING SAFE
It is a Radio Program directed to the whole population.
The purpose of the program was to take correct information to the customers about all kinds of Insurances and
their peculiarities, as well as to contribute for the modification of the insurance image.
Considering the positive evaluation and the reached purposes, the Directorate is making all the efforts to give
continuity to the Strategic Communication Plan, from the
second half of the current year.
LEGAL PATIO
The intended model is the same that is already working in
Rio de January, but with some necessary adaptations to
adjust it to the local reality.
DENOUNCEMENT HOT-LINE
Denouncement Hot-Line to combat the fraud in the Insurance Industry in Minas Gerais.
The proposal for partnership has already been addressed
by Fenaseg and Sesmig to the Director of Information and
Intelligence of the Police/COSEG/PCMG – Delegate Renato
de Araújo Cardoso, and it is being analysed.
EDUCATIONAL ACTIONS
Sesmig, being the founder of IMES – The Insurance Teaching Institute of Minas Gerais, has been totally supporting
its actions through the assignment of all the physical and
functional infra-structure, including secretary, classrooms,
auditorium and audio equipment, enabling IMES to develop the technical courses, the insurance brookers course
and the technical certification for the industry.
The project has still acquired an important character of
service provided to the community with divulgation on
safety tips, prevention and protection that, at least, are
also part of the concept of “Living Safe”.
Santa Catarina Trade Association
SESMIG’S COLUMN
Meeting held with the participation of governmental entities aiming at: incrementing actions foreseen in the Fraud
Prevention and Fighting Plan; establishing communication
channels; proposing a periodical meetings schedule; and
discussing the regulation on vehicles dismantlement.
It is a column produced to supply permanent information
about the Motor Insurance and even tips about how to
avoid thefts, frauds, and news about the safety of the
vehicles. Such columns have been published in the Vehicles Supplement of the Newspaper, each 15 days from
September/ 2005 to March/2006, with a highly positive
result before the readers.
THE SEMIG’s INTERNAL NEWSPAPER
The newspaper, directed to the associated members, brookers,
class entities and opinion formers, is published each two
months, with a four pages issuing. Through this newspaper
SESMIG informs about its actions for its associated members.
ELECTRONIC CLIPPING
News’s selection with respect to the insurance sector
published by the major newspaper of the Country, the
daily clipping allows to accompaign what the press publishes about the insurance industry and how the image of
the sector has been led to the public opinion.
President: Mr. Paulo Lückmann
Visits were made to the regional commands of the Military Police (in Florianópolis and North of Santa Catarina) in
order to examine the road traffic accidents and robbed/
stolen vehicles statistics and to verify the action plans for
the reprehension of the crime.
Amendments in the legislation related to IPVA tax collection, turning it proportional in case of robbed/stolen vehicles.
Meetings with the Director of Information and Intelligence
of the SSP/SC, aiming at creating the Action Against the
Crime and the Denouncement Hot-Line.
Proposal submitted to DETRAN/SC for the jointly development and implantation of a road traffic managing system.
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Building of the Germanic Village Events Center held with
the support of the Blumenau Business Center and participation in Councils on Safety (CONSEGs) existent in the
main municipalities of the State.
Participation at the working party composed of the
Blumenau Planning Secretariat for the amendments
to be made at the municipal legislation on Safety in
Buildings.
Project for on-line access to the database of the Santa
Catarina Fire Brigade (licenses registry, inspections and
survey reports) retaken.
Participation in the discussions of communitarian issues
during the meetings with the Intersindical (joins the trade
associations of Blumenau and region) and the Commercial and Industrial Associations of Blumenau, Florianópolis
and Joinville.
Meeting with AMPE (The Micro Size and Small Size Businessmen Association of Blumenau and region), in order to
establish an orientation program (lectures, bulletins and
radio) with regard to the quality of the risks within the companies and to take information on the insurance industry.
EDUCATIONAL ACTIONS
Support in prevention campaigns on road traffic accidents.
Lecture on the insurance and risk management at the 26th
SIPAT (Working Accidents Prevention Internal Week) of the
company Rigesa, Celulose, Papel e Embalagens Ltda.
Training (special for directors of the trade association
and major executives within the insurance industry) on
the following theme: Cooperating to become more
competitive.
Lectures on the topics “Ombudsman’s Services” and “Professional Posture: the differential in the working relationships”.
In a partnership with FUNENSEG/SC the following lectures were given: “The Knowledge and the Welfare within
the Business World” and “The Reflexes of the New Rules
for Life and Personal Accident Insurances”, in the main
cities of Santa Catarina.
TECHNICAL ACTIONS AND
RELATION WITH THE INDUSTRY
Development and presentation, in the main cities of Santa
Catarina, of the previous surveys project in stationary posts.
Implantation of Working Parties in Chapecó and Criciúma,
which in addition to those in Florianópolis and Joinville,
enabled the expansion of the activities in the whole State.
Research about the quality satisfaction and evaluation related to the third parties services.
SOCIAL ACTIONS
Sponsoring of the printing of 2,080 Booklets containing
the Elderly Statute published by the Universidade Regional
de Blumenau (FURB).
Donation to the Military Police Command of Chapecó, of
the equipment used to measure the alcooholic tenor in
drivers of any motor vehicle.
2005’s Christmas’ Campaigns, which collected toys and
food that have been donated to the assistential and philanthropic entities in Blumenau, Florianópolis and Joinville.
2006’s Warm Clothing Campaign, which promoted the
donation of approximately 1,000 pieces of clothing and
blankets in Blumenau, Gaspar, Florianópolis and Joinville.
Donation of nearly 8 tons of paper (recycled) for the
Blumenau’s penitentiary.
Support to the Insurance Friend Program, developed by
Funenseg/SC, in a partnership with CIEE, which has qualified 20 young students of low-income families (senior high
school students) to work within the insurance industry,
after periods of trainees.
Creation of the Committee on Social Liability, which purposes will be to define clear criteria to choose, to develop
and to monitor the social actions promoted by the trade
association.
São Paulo Union
President: Mr. Paulo Miguel Marraccini
INSTITUCIONAL ACTIONS
Support to the post-graduation course on Insurance
Administration (a Convention between FUNENSEG/SC
– ICPG promoting its divulgation and offering
scholarships.
Support to the lectures given by the ACTS – Association
of Insurance Technicians of Santa Catarina.
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Since 2000, the trade association, through its associated
companies, supports financially the activities of the São Paulo
Institute against the Violence, through the Denouncement
Hot-Line, which service aims at fighting against the practices of the organized crime. In parallel, it also supports the
Institute in its actions to support the violence victims.
Sindseg/SP, Fenaseg and Cesvi have continued the
convenium signed with Government bodies of São Paulo
to improve the evaluation process with respect to the damages occurred in vehicles involved in road traffic accidents.
TECHNICAL ACTIONS
Aiming at keeping a direct relationship with their Technical Committees, the Board of Directors invited the respective presidents to participate, alternately, of the monthly
meetings for the presentation of their working agendas
and discussions about the new projects conducted by
the committees.
The results of the 3rd Research on Suppliers for the Human
Resources within the insurance industry were presented in
August, 2005, with the support of the Sindseg/SP and the
Sincor/SP. At that opportunity, a lecture on the topic “The
Human Resources Strategy in the Results” was given.
The Technical Committee on Legal Affairs of the Sindseg/
SP organized a lecture on the theme Reinsurance, given
by Dr. Sérgio Mello and Mr. Antonio Penteado Mendonça,
where the following topics were discussed: The Application of the Law and the Jurisprudence in the Reinsurance Contract within the Brazilian Law, Control Clause,
Reinsurance Contract, Ethics and Transparence within the
Reinsurance Activity.
The Technical Committee on Property and Civil Liability Insurance of the Sindseg/SP organized a lecture regarding to the
theme “The challenges faced by the insurance industry in the
people admnistration”, given by Mr. Ricardo Maia Mulder Van
de Graff, of the company CASE Consulting, a consultant specialized in recruiting executives for the insurance industry.
The Board of Directors of the Trade Association continued
the communication’s strategy of the Sindseg/SP through
the services of the company FSB Comunicações. The
Trade Association Newspaper published several subjects
of interest for the sector, and the insurance popularization
is highlighted, among other themes. The Academy of
Magistrates of São Paulo – APM, with the support of the
Sindseg/SP promoted the second issue of the Legal Forum of the Insurance Activity in São Roque – São Paulo, in
October, 2005. The event counted on the presence of
magistrates, executives and lawyers of the insurance industry, as well as of Chief Judges, Ministrers of the Superior Tribunal of Justice and Supreme Federal Court.
In August, 2005, the I Forum of Marketing in Mass Insurance, was held jointly with the the Brokers Trade
Association of São Paulo, where the strategies to conquer and to retain customers in a transforming market
were discussed.
In December, 2005, Sindseg/SP organized a debate referring to the theme ISS – Registry of Services Providers Not
Established in the São Paulo Municipality, and the following matters were discussed: Administrative Rule SF no.
101/2005; Discussion about the day-to-day implications
of the Insurance Companies and the operating difficulties; To divulge the Fenaseg’s Proposal about the special
fiscal regime already adopted in the São Paulo and Rio de
January municipalities, aiming at extending it to other
municipalities.
Rio de Janeiro Trade Association
President: Mr. Luiz Tavares Pereira Filho
Sindseg/SP presented the 12th Research on Remuneration, Benefits and Politicies for the Human Resources
Administration, in March 31th, 2006, coordinated in a partnership with the Technical Committee on Human Resources and Synergy – Consultancy.
EDUCACIONAL ACTIONS
Inauguration of the Legal Patio destined to receivie, safeguard and return to their owners the robbed and stolen
recuperated vehicles.
During four months of presentations, until June, 2006, more
than 7,000 students from the private and public teaching
nets had access to the Insurance Culture Program – Educate to Protect. The initiative, a result from the partnership between the Sindseg/SP and the Sincor/S.P, was
presented in eight municipalities of São Paulo, including
the capital of the State.
A survey based on the evaluation cards filled by the students shows that 75% of them considered the lecture’s
content as very good to excellent.
Continuity in the relationship with the public authorities
and class entities, with view of contributing for improve
the public and actions policies.
Inauguration of new buildings sponsored by the
Trade Association aiming at adapting the Vehicle
Robbery and Theft Police Station (DRFA) as a Legal
Policy Station.
Execution of a convention with the Denouncement HotLine for the creation of nucleus destined to offer subsides
to the safety authorities in the fighting against the vehicles
robbery and theft, and their recovery.
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111
EDUCATIONAL ACTIONS
The first seminar of the program Insurance within the
whole State was held in Volta Redonda, destined to
promote the insurance culture, to expand markets inwards and to divulge the Trade Association institutional image.
A seminar with the Magistrates of the Rio de January was
held in Búzios.
TECHNICAL ACTIONS
• Participation in the Executive Group of the Financial Services Sector, created by the Rio de January State Development Secretariat, as a member. It was composed of
governmental entities, of business and teaching representatives, with the main purpose of proposing actions
for the increment of this services sector.
• Issuing of booklet about statistics related to insurance,
capitalization and open pension funds, containing the
main data on the national and international industry.
Social Communication:
• Monthly issuing of the Trade Association Newspaper
with information about the entity’s activities.
• The Column Insurance in your Life, published monthly
at the Jornal do Brasil newspaper, dealing with themes
related to insurance, in a simple language, and to the
interest of the population in general.
• Daily Program at the CBN-Rio Radio, named The Insurance Minute, with short notices about several modalities of insurance, capitalization and open pension funds.
AÇÕES SOCIO-CULTURAL ACTIONS
• Functioning of technical committees on losses that meet
themselves regularly, in order to propose measurements
for fighting the nsurance fraud and for the improvement
of practices within this area.
Earth’s Defensives Association
• Renewal of the annual agreement with the ONG Earth’s
Defensives Association, a partnership that has been kept
during the last 12 years, giving support to the environment
preservation actions and the improvement of the life quality.
• A quarterly divulgation of the statistics about the vehicle robbery and theft, also held for the Safety Authorities as a subsidy to the periodical data collection.
Rio de January Modern Art Museum
• Maintenance of the co-sponsoring for the contracting
the Museum’s insurance.
112
Back
Preparation
of Statistical Data
Graphic Project
Holding
Fenaseg
National Federation of Private Insurance
and Capitalization Companies
Back
113

Insurance Brokers - The Brazilian

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