IRB+Intelligence: Insurance sector earned R$ 11.2 billion in May, up 26.4%
IRB+Mercado bulletin points out revenues of R$ 54.2 billion in the year to 2021, an increase of 15.9%, with emphasis on Life, Automobiles and Corporate Damages and Liabilities
The ninth edition of the IRB+Mercado Bulletin, a report by the IRB+Inteligência platform, points to an increase in the revenue of insurance companies for the 12th consecutive month. In May, the sector accounted for R$ 11.2 billion, a number 26.4% higher than that registered in the same month of last year, highlighting the high rates of positive change in Personal Insurance Against Damage (48.7%) and Corporate of Damages and Liability (40.7%). Credit and Guarantee was the only segment that fell in the month, with a drop of 17.1%, accumulating losses in the last three months.
According to the report, the increase in the Individuals Against Damages segment, which totaled BRL 894 million, is justified by the advance of 150.1% of the Extended Warranty coverage, which had been impacted by the closing of the trade due to the pandemic, in 2020 The growth of Corporate Damages and Liabilities, with R$ 2 billion, was driven by the evolution of the transport line, which grew with the increase in cargo handling caused by online purchases.
The analysis of the IRB+Mercado Bulletin, with a focus on damage, liability and personal insurance, also indicates that, in the year to 2021, the turnover is R$ 54.2 billion, a growth of 15.9% or R$ 7.4 billion more compared to 2020. The Life segment, which reached 31% high in May, leads the participation in the sector’s total revenue from January to May, with 37.1%. The ranking follows with Automobile (26.3%), Corporate Damages and Liabilities (18.7%), Individual Against Damage (8.5%), Rural (6.1%) and Credit and Warranty (3.2% ).
In May, the report also highlights the growth of the Incident Claims Index in relation to sales recorded in the month: an increase of 11.2 percentage points (pp) compared to the same period in 2020. In the accumulated through May, the index also presented increase: 6.1 pp more in relation to the rate registered in the same period last year.
The IRB+Mercado Bulletin summarizes insurance operations based on public data made available by SUSEP on 07/12, considering damage, liability and personal insurance. The edition also lists the top five insurance groups by line of business. The analysis, which is published monthly, is available in full on the IRB Brasil RE website (www.irbre.com). At the same address, the IRB also offers the IRB+Mercado Segurador Dashboard, a dynamic and free panel with information from the entire sector.