Clipping of news on Brazilian Culture, Law and Citizenship
22/12/2014
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Car insurers who took the high interest rates for space with more aggressive prices are already taking the foot off the accelerator and resuming a position of greater caution. Supports this movement, according to executives polled by report, pressures coming from the increase in theft rates in large capitals, especially in the Cup period, high inflation in the segment of parts and higher capital requirements due to the solvency rules in the sector.
After a year of a lot of competition in the auto insurance market, with some companies with prices below the average market itself, it is expected that consumers pay more expensive renewals of policies in 2015. Among the players who had the growths more aggressive, according to market figures, are the Japanese Mitsui Sumitomo and Tokio Marine and Bradesco Seguros with rates above 30% in the year to October.
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Although some cases outside of the turn, the increased competition associated with a drop in vehicle sales this year has made the performance of the car insurance industry slowed the pace of expansion to less than half. From January to October, the segment awards totaled more than US $ 26 billion, an amount 7.7% higher compared to the same period last year.
In 2013, according to the Siscorp consulting, the sector grew 19%. "With the market growing 7.7% and a 15% loss ratio is clear that in fact we have an imbalance. Very accelerated advances are worrisome, but the scenery is not to price war in 2015," says Marcelo Sebastian, self director Porto Seguro.
For 2015, the expectation of the National Federation of General Insurance (FenSeg), according to the executive, is that car insurance premiums keep the pace of growth and advance at least 8%, driven by prices in more "reasonable" levels and the scene settings that Brazil will in 2015.
"The auto insurance market grows enough in times of crisis because people are concerned about protecting your well. There are opportunities for growth," he adds.
Source: Time - Business
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This article was translated by an automatic translation system, and was therefore not reviewed by people.