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Panorama Atual do Resseguro no Brasil (Bruno Camargo)

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Apresentação realizada no 5º Encontro de Resseguro do Rio de Janeiro (abr/2016)

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Panorama Atual do Resseguro no Brasil (Bruno Camargo)

  1. 1. O Panorama do Resseguro no Brasil April/2016
  2. 2. 2 WHERE WE ARE – MARKET (ECONOMICS) Brazil Macroeconomic Scenario  Brazil´s economy is expected to record the largest contraction in over a decade in 2015, plagued by depressed private consumption and low prices for commodities, in addition to the political crisis and scandals in stated-owned companies (such as Petrobras). Further contraction is anticipated to occur in 2016 by some commentators.  The economy is unlikely to see a significant rebound without economic reforms however political wrangling is stalling the government’s attempts at reform. President Dilma Rousseff’s approval ratings have fallen to all-time lows and she is facing a large amount of opposition in Congress, which has watered down a number of austerity measures. As a result of the large challenges to fiscal consolidation, poor growth prospects and the government’s rising debt burden, Fitch Ratings downgraded Brazil to BBB- from BBB, one notch above junk bond status in October. Standard & Poor's downgraded Brazil's credit rating to junk grade in the end of August.
  3. 3. 3 P&C – Insurance Market Regulatory Environment R/I Insurers Alignment: Mission / Vision / Core Values • Optimization of rules Protection X Control X Productivity • Investments needed to develop a leadership Local Market • Get niched, get big or get out The success of a P&C strategy is based on long term relationships and the right balance of results among the stakeholders who participate in the insurance chain Stablish a steady company capable to consistently delivery combined ratios bellow 100% Brokers • More sophisticated buyers
  4. 4. 4 MARKET TRENDS Our internal P&C multiline Market Proxy shows a consistent market growth in spite of a GDP contraction • New entrants • More verticalization • Consolidation. Valuations of P&C companies affected by the macroeconomic environment • Continue Pressure on rates • Deterioration of technical results • Risk Selection Approach GWP Mkts GWP Mkts GWP Mkts GWP Mkts ACE 2.266.861.385 24,07% 2.614.659.213 23,84% 2.053.845.019 17,50% 1.772.784.372 14,92% Mapfre 998.671.535 10,61% 1.172.962.072 10,70% 1.496.707.237 12,76% 1.563.330.713 13,16% Tokio Marine 487.314.865 5,18% 524.274.417 4,78% 672.320.876 5,73% 884.753.785 7,45% Yasuda 523.104.394 5,56% 642.085.414 5,85% 713.959.912 6,08% 702.525.792 5,91% Allianz 941.545.328 10,00% 951.478.909 8,68% 970.730.286 8,27% 617.209.467 5,20% Porto 411.767.480 4,37% 436.186.918 3,98% 481.652.697 4,10% 585.855.130 4,93% Zurich 430.748.751 4,57% 571.873.815 5,21% 607.358.973 5,18% 566.359.509 4,77% Bradesco 474.630.891 5,04% 387.861.304 3,54% 547.325.432 4,66% 539.562.030 4,54% AIG 170.978.812 1,82% 212.260.320 1,94% 295.181.307 2,52% 381.569.781 3,21% Fairfax 182.175.902 1,93% 244.866.570 2,23% 316.149.096 2,69% 349.611.696 2,94% Liberty 257.664.945 2,74% 259.282.024 2,36% 291.465.441 2,48% 214.775.206 1,81% Other 3.624.319.252 38,49% 4.336.428.170 39,54% 4.739.688.357 40,39% 3.700.131.413 31,15% Market 9.416.470.732 10.966.553.319 16,46% 11.734.001.649 7,00% 11.878.468.894 1,23% Jan. 2012 - Dec. 2012 Jan. 2013 - Dec. 2013 Jan. 2014 - Dec. 2014 Jan. 2015 - Dec. 2015
  5. 5. 5,9% 4,5% 0,2% 9,0% 16,3% 5,0% 10,5% 22,2% 4,5% 18,0% 13,2% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 5 WHERE WE ARE – MARKET (P&C) The P&C Market is expected to grown in 2016 at a slower pace of 11,4%, retained and ceded loss rations have deteriorated and competition and capacity continue to increase • 30 Insurance Companies operating in P&C Business • 119 Reinsurers accredited in Brazil • New top international insurers entering in the P&C Market • Companies aggressively defending their portfolio to justify acquisition costs • Local Reinsurers overall operating with combined ratios above 100% • Global capacities being accessed Key P&C Market Facts P&C Underwriting Cycle
  6. 6. 6 HUMAN RESOURCES Human Resources will be key to turnaround results, increase productivity and innovation

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