Insurance sales hit R$250 billion in October 2021, according to Susep

The supervised sector collected BRL 249.64 billion in the accumulated up to October, which corresponds to BRL 29.30 billion more than in the same period in 2020. In percentage terms, the accumulated in 2021 showed growth of 13.3% . Considering only the insurance segments, the observed growth was 14.7%. VGBL was the highlight, with revenue of R$ 10.37 billion in the month of October, which corresponds to a growth of 27.9% compared to the same month in 2020.

In personal insurance, the main highlight was life insurance, which reached the amount of R$ 19.03 billion, which corresponds to a growth of 16.8% compared to the same period in 2020.

The loss ratio of individual and group life insurance continued on a downward trajectory, reaching a value of 50.2% in October this year, below the value observed in September, when it was 62.4%. This is the sixth consecutive month of decline since the peak of claims for this business line, in April 2021, when it reached 97.3%.

Damage insurance continues to show strong performance, with an increase of 13.5% in the collection of premiums in 2021, when compared to 2020. When we analyze non-auto damage insurance, the growth in the year to date is even greater, 18, 7%. The collection of premiums in auto insurance reached R$ 30.81 billion in the year, an amount 7.0% higher than in the same period in 2020.

The rural business line was highlighted, with growth of 41.9%. Insurance for property lines, civil liability (RC) and transportation also stood out, with a growth of over 20% in the collection of premiums in 2021.

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