The Sector At A Glance ..................................................................................................................................5
Table: Overview Of Brazil’s Insurance Sector...................................................................................................................................................... 5
Key Insights On Brazil’s Insurance Sector ........................................................................................................................................................... 5
Brazil Industry SWOT........................................................................................................................................................................................... 8
Development Of BMI’s Insurance Reports ....................................................................................................9
Table: Selected European Countries: Projected Budget And Current Account, 2008 (as % of GDP) ................................................................. 11
Projections And Forecasts...........................................................................................................................15
Table: Premiums – Historical Data And Forecasts, 2005-2012 .......................................................................................................................... 15
Projections And Drivers Of Growth.................................................................................................................................................................... 15
Table: Growth Drivers, 2005-2012..................................................................................................................................................................... 16
Country Update .............................................................................................................................................17
Macroeconomic Forecast ................................................................................................................................................................................... 17
Table: Brazil - Economic Activity....................................................................................................................................................................... 18
Domestic Politics ................................................................................................................................................................................................ 19
Insurance Business Environment Rating ..........................................................Error! Bookmark not defined.
Table: Brazil – Insurance Business Environment Indicators ...................................................................................Error! Bookmark not defined.
Table: Latin America Insurance Business Environment Rankings....................................................................................................................... 23
Regional Context...........................................................................................................................................24
Table: Non-Life Premiums In A Regional Context, 2007.................................................................................................................................... 24
Table: Life Premiums In A Regional Context, 2007............................................................................................................................................ 25
Table: Comparison Of Major Lines As % Of Non-Life Premiums, 2006 ............................................................................................................. 25
Analysis Of Competitive Conditions............................................................................................................26
Brazil – Non-Life Segment .................................................................................................................................................................................. 29
Brazil – Life Segment.......................................................................................................................................................................................... 29
Company Profiles..........................................................................................................................................30
AEGON............................................................................................................................................................................................................... 30
Company Analysis .............................................................................................................................................................................................. 30
Company Details ................................................................................................................................................................................................ 30
Regional Operations ........................................................................................................................................................................................... 30
AGF.................................................................................................................................................................................................................... 31
Company Analysis .............................................................................................................................................................................................. 31
Company Details ................................................................................................................................................................................................ 31
Regional Operations ........................................................................................................................................................................................... 31
AIG ..................................................................................................................................................................................................................... 32
Company Analysis .............................................................................................................................................................................................. 32
Company Details ................................................................................................................................................................................................ 32
Allianz................................................................................................................................................................................................................. 35
Company Analysis .............................................................................................................................................................................................. 35
Company Details ................................................................................................................................................................................................ 35
AXA..................................................................................................................................................................................................................... 37
Cardif.................................................................................................................................................................................................................. 38
CNP.................................................................................................................................................................................................................... 41
Generali.............................................................................................................................................................................................................. 43
HDI-Gerling ....................................................................................................................................................................................................... 45
HSBC Insurance ................................................................................................................................................................................................. 48
ING..................................................................................................................................................................................................................... 50
Liberty Mutual .................................................................................................................................................................................................... 52
MAPFRE............................................................................................................................................................................................................. 54
MetLife................................................................................................................................................................................................................ 56
New York Life ..................................................................................................................................................................................................... 59
Prudential Financial........................................................................................................................................................................................... 61
QBE.................................................................................................................................................................................................................... 64
RSA..................................................................................................................................................................................................................... 65
The Hartford....................................................................................................................................................................................................... 66
The Principal ...................................................................................................................................................................................................... 67
Zurich ................................................................................................................................................................................................................. 68
Country Snapshot: Brazil Demographic Data .............................................................................................70
Section 1: Population.......................................................................................................................................................................................... 70
Table: Demographic Indicators, 2005-2030....................................................................................................................................................... 70
Table: Rural/Urban Breakdown, 2005-2030 ...................................................................................................................................................... 71
Section 2: Education And Healthcare................................................................................................................................................................. 71
Table: Education, 2000-2003 ............................................................................................................................................................................. 71
Table: Vital Statistics, 2005-2030....................................................................................................................................................................... 71
Section 3: Labour Market And Spending Power ................................................................................................................................................. 72
Table: Employment Indicators, 1999-2004......................................................................................................................................................... 72
Table: Consumer Expenditure, 2000-2012 (US$) ............................................................................................................................................... 73
Table: Average Annual Wages, 1996-2002......................................................................................................................................................... 73
Methodology ..................................................................................................................................................74
Basis Of Projections ........................................................................................................................................................................................... 74
Insurance Business Environment Rating............................................................................................................................................................. 75
Table: Insurance Business Environment Indicators And Rationale ..................................................................................................................... 76
Table: Weighting Of Indicators .......................................................................................................................................................................... 77
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