Life Report

Product Insurance Market Reports Life Rev Brazil

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice


  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Brazil's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Brazil's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Brazil

The Brazil life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Brazil.  Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Brazil and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Brazil’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Brazil is available.

Axco’s report describes the regulatory framework that applies to the Brazil domestic life insurance sector, including whether non-admitted insurance is permitted in Brazil; as well as the legislation necessary to know regarding Brazil’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Brazil with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Brazilian market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.


The report describes the public and private healthcare system in Brazil, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.


Axco reports on the three pillars of Brazilian pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Brazil report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Brazil Life and Benefits Report Extract

Below are brief extracts of information from the Brazil Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

Summary and Trends

In 2018, the total risk premiums written by life insurance companies in the Brazilian insurance market amounted to BRL 33.60bn an increase of over the previous year. The above statistics exclude the major accumulation products (the Life Free Benefit Generator - VGBL and the Free Benefit Generator Plan - PGBL), contributions for which amounted to BRL 108.10bn (USD 28.34bn) in 2018 according to market sources. The risk benefit market is primarily based on group business, with group life accounting...


Summary and Trends

The major pension plans offered by life insurers are the Life Free Benefit Generator (VGBL) and the Free Benefit Generator Plan (PGBL), contributions for which amounted to BRL 108.10bn in 2018. Although classed as pension products, there is no requirement for the proceeds of either to be annuitised at maturity. These products are classed as open pension funds. Official statistics from the authorities for the total closed pension fund market show...


Summary and Trends

The public health system is known as the Unified Health System (Sistema Unico de Saude - SUS) and is reported to be the largest public health service in the world in terms of membership (with over 190 million beneficiaries). SUS constantly suffers with limited resources and access to services can be difficult for a large part of the population. Private medical insurance (PMI) in Brazil is offered in two different formats. The larger part, known as private health plans, is offered in a similar way to health maintenance organisations ...

Back to Report Store

You may also be interested in these reports...


Ready to talk? We're here to help.

Whether you need more information or to discuss which products are best suited to your needs, our dedicated team are here to help.

Get in touch