PRZOOM - /newswire/ -
London, United Kingdom, 2008/01/16 - Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report analysing Brazil’s insurance market which has recently experienced a robust growth.
“Opportunities in Brazil Insurance Market” says there are ample opportunities for growth in the insurance sector, especially in the IT sector as total spending in this segment by insurance sector is projected to grow at the compound rate of 14.42% during 2007-2011.
The report finds that the Brazilian insurance market consists of general insurance, life and retirement savings products and ‘capitalisation’ – a product unique to the country which sees Brazilian insurers combining savings with the National Lottery.
Authors have analysed the Brazilian insurance industry segment-wise and measured the performance of each segment. It predicts that the Brazilian life and retirement savings market, in premium terms, is expected to grow at the compound rate of 18.89% during 2007-2011. Homeowner insurance is projected to grow at the CAGR of nearly 14% from 2007 to 2011, mainly due to continuous declining interest rates in Brazil.
Automobile insurance is anticipated to grow at a compound rate of 14.16% during 2007-2011, while the Health insurance sector is projected to grow at a CAGR of nearly 13% for the period spanning 2007-2011.
Analysts maintain that the improving economic stature and growth in auto financing in Brazil has resulted in high auto ownership in the country, thereby fuelling growth in the auto insurance segment. The auto insurance segment is predicted to maintain the same degree of growth, particularly because of rising numbers of car owners in the country.
The study also analyses factors like income inequality, crime, insurance frauds and increasing price competition which are seen as deterrents that need attention. It also contains key statistical data, discusses the market performance, and lists important products driving forces, government policies, opportunities, challenges, and the future outlook of the market.
“Opportunities in Brazil Insurance Market” is available from Report Buyer. For more information, please visit the website.
Report Buyer product ID: RCS00183
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