SulAmérica operations are focused on people protection, with a leading position in the health and dental insurance segments and in wealth (life and personal accident insurance, private pension and asset management).
Private Healthcare Market
SulAmérica has a leading position in the Brazilian private healthcare market, being the third largest healthcare company in terms of revenues, according to data from ANS (National Supplementary Health Agency), in addition to an important presence in the offer of dental plans. Also according to ANS, the private healthcare market presented total revenues of R$213.5 billion in 2019, an increase of 8.3% in relation to 2018, presenting a consistent annual growth rate over the last years, indicating a sector with a considerable growth potential in Brazil.
The Company is renowned for its presence in the private healthcare segment offering a product with a high quality assistance in partnership with its broad and qualified network of medical providers, with nationwide coverage.
Life and Private Pension
In private pension, currently, the main products offered in the Brazilian market by private pension or insurance companies are the PGBL and VGBL pension plans. In private pension plans, the income earned from assets is fully allocated to the beneficiaries’ reserves. These products usually offer the possibility for contracting supplemental coverage, such as life and accidents insurance. The PGBL and VGBL plans are characterized by defined contribution and offer their plan participants different alternatives of investment of accumulated reserves. The Company does not sell defined benefit traditional pension plans, nevertheless part of its plan participants has these plan types. According to SUSEP, the contributions of private pension plans increased from R$111.4 billion in 2018 to R$126.9 billion in 2019.
In life and personal accident insurance, the Company has a broad portfolio, offering group and individual coverage plans, as well as credit life and travel insurance. According to SUSEP (Private Insurance Commission) data for December 2019, the segment totaled R$40.8 billion in revenues (Life and Personal Accident Insurance and Travel – not considering VGBL plans), an increase of 17.1% in relation to 2018.
According to the Brazilian Financial and Capital Markets Association (ANBIMA), the asset management segment in Brazil has grown significantly in recent years. The volume of managed assets in Brazil increased from R$4,182 billion as of December 31, 2018 to R$4,708 billion as of December 31, 2019. Since 2004, the asset management sector has undergone significant changes, with appointment of the Brazilian Securities Exchange Commission (CVM) to oversee these activities, and with the incentives for the adoption of best corporate governance practices and for increased transparency in asset management.
The main clients of the asset management market are corporate investors, such as private pension entities, insurance companies and private clients who are usually from the high net worth segment.
Last update: January 27, 2021