1 The insurance industry in Brazil Transformation and growth in a country of opportunities II. III. IV. The insurance industry in Brazil Transformation and growth in a country of opportunities 1. Project direction Photographs Clodomir F lix F. C. Junior Walter Craveiro (project official photographer). Nelson Toledo (Enrico De Vettori and Jo o Batista Pinto). Editorial board Gilberto Alves (J r me Garnier). Renato de Souza Jorge Luiz ANS (Mauricio Ceschin). Mtb Nilton Santana (Fabio Luchetti). Gabriel Sales Photocamera (Carlos Augusto Pinto Filho).
2 Editorial production Ester Rossi Press Mtb Intergraf Ind. Gr fica Ltda. Production support Print run Laura Paoletti 1,700 copies in Portuguese version Sthefani Tironi 300 copies in English version Graphic production and image selection Collaborating companies and entities Elisa Paulillo Ag ncia Nacional de Sa de Suplementar (ANS). Otavio Sarsano Aon Risk Solutions Banco do Brasil Further economics information Bradesco Seguros Fernando Ruiz Caixa Seguros Giovanni Cordeiro CESCEBRASIL Seguros Aline Oshiro HDI Seguros IRB-Brasil Re Proofreading Ita Auto e Resid ncia Sonia Hagemann MAPFRE Seguros Mar tima Seguros English version Marsh Brasil Unitrad Profissionais em tradu o OdontoPrev Porto Seguro Layout SulAm rica Mare Magnum Superintend ncia de Seguros Privados (Susep).
3 The statistics mentioned in this book reflect the latest available information at the closing of this publication. The disclosure of data by the press or any other market sources updating the statistics exposed herein does not annul the informative purpose of this material, which is to analyze the changes and essential trends established and developed throughout the years, despite one- off changes or shortterm economic and business cycles. The contents of articles written by the guest authors in this collection do not necessarily reflect the opinion of Deloitte.
4 All rights reserved to Deloitte. No parts of this book may be reproduced, including citations of information, except if prior authorization from Deloitte and guest authors, upon request, is granted in writing and commitment to source credit is binding. Affiliated to the Brazilian Association for Business Communication (ABERJE). Contact for readers: About Deloitte Deloitte provides services in audit, consulting, tax avisory, corporate finance, outsourcing, to clients spanning multiple industries. With a global network of member firms in more than 150 countries, Deloitte brings world class capabilities and deep local expertise to help clients succeed the best performance, wherever they operate.
5 Deloitte's 182,000 professionals are committed to becoming the standard of excellence and they are unified by a collaborative culture that fosters integrity, outstanding value to markets and clients, commitment to each other, and strength from diversity. Deloitte has been in Brazil since 1911. Nowadays, the Firm is one of the market leaders and its over 4,500 professionals are recognized by integrity, competence and capability to turn their knowledge out in the best solutions for their clients. Deloitte's operations cover throughout the Brazilian territory, with offices in S o Paulo, Belo Horizonte, Bras lia, Campinas, Curitiba, Fortaleza, Joinville, Porto Alegre, Rio de Janeiro, Recife and Salvador.
6 Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. 2011 Deloitte Touche Tohmatsu. All rights reserved. A view of our vibrant insurance market The excellence of the financial industry in Brazil is today recognized all over As we begin the world, contributing to present the country as a market attractive to all international agents.
7 Our second century in The solid fundaments of the organizations in this sector translate into optimum levels of profitability, diversified offers of products, increasing penetration of the country, the less exploited tiers of the population, an enviable technological base and a we remain distinguished risk management structure. committed The insurance sector is, undoubtedly, a very important part of this healthy to help this financial industry of ours. More than that, it today represents a vibrant market, industry which is strongly expanding and establishing a significant level of maturity.
8 Growth and The present success of our insurance market is a result not only of the promising continue to momentum of the economy and the business environment in the country, but transform. above all, of the capacity of the companies in this industry to permanently reinvent themselves. Deloitte, which already achieved 100 years service in Brazil , is proud to have historically supported the organizations comprising the whole local chain of the insurance and financial market in general. As we begin our second century in the country, we remain committed to help this industry growth and continue to transform.
9 This collection of articles organized with the contributions of some of the main executives in this market offers us a panoramic view of one of the most promising sectors of the national economy. We wish everyone an enjoyable read. Juarez Lopes de Ara jo President of Deloitte Guest authors Carlos Augusto Pinto Filho Francisco Caiuby Vidigal General coordinator of the President of Mar tima Superintendence of Private Seguros and Mar tima insurance (SUSEP)'s General Sa de Seguros Coordination of Solvency Monitoring Cristiano Furtado J r me Garnier CFO of Marsh Brasil CFO of Caixa Seguros Duarte Marinho Vieira Leonardo Andr Paix o Technical actuarial President of IRB-Brasil Re superintendent of Mapfre and Professor of actuarial sciences of the Pontifical Catholic University of S o Paulo (PUC).
10 Fabio Luchetti Marcelo Homburger Executive Vice President Vice President of Technical of Porto Seguro Resources of Aon Risk Solutions Deloitte local and global leadership By Clodomir F lix Chris Harvey Joe Guastella Deloitte leader in Deloitte global Deloitte global Brazil for financial leader for financial leader for industry industry insurance industry Marco Antonio Rossi Patrick de Larragoiti Lucas President of the Bradesco Chairman of the Board Seguros Group of SulAm rica Seguros e Previd ncia Mauricio Ceschin Paulo Rog rio Caffarelli President of the National Vice President of New Retail Supplementary Health Business for Banco do Brasil Agency (ANS).