Brazil insurers stand ready to support infra projects

The insurance industry in Brazil is prepared to play a key role in infrastructure projects across the nation.

"Invest in infrastructure is to invest in the future and development. China and India, for example, invests 7% and 5.5%, of their GDP, respectively, in infrastructure. Insurance products are fundamental to facilitate the structuring of infrastructure projects, giving them the viability necessary for their execution," said Marcio Coriolano (pictured), president of insurance confederation CNSeg, in an interview with the confederation's radio station.

For years Brazil has had a low level of investment in the infrastructure sector, partly because of fiscal problems and also in recent years due to the severe recession in 2015 and 2016. Things could change with the administration of business-friendly President Jair Bolsonaro if it manages to accelerate the growth of the economy and improve the health of public finances. Assuming office on January 1, Bolsonaro has pledged to do both.

Coriolano said the Brazilian insurance sector has a wide range of insurance products and solutions to support all phases of upcoming infrastructure projects.