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MeneameBrazil's insurance market saw gross written premiums in the first nine months of 2009 come in at 55.2bn reais (US$32.0bn), up 10.7% from the same period in 2008, as September showed strong monthly growth, according to the latest data from regulator Susep.
September had 6.86bn reais in premiums, up 7.0% from August this year and 20.3% from the same month in 2008.
The largest insurance segment, auto coverage, rose 10.6% to 9.78bn reais in January-September 2009 over the same period in 2008, while group life increased 14.9% to 5.39bn reais.
Susep's market data does not include premiums from health insurance, which is regulated by private healthcare watchdog ANS, but does take into account contributions to VGBL private pension plans, which hit 19.3bn reais during the period, rising 21.8%.
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