Brazilian Superintendence of Private Insurance publishes outcome assessment on the low uptake of the S4 segment under CNSP segmentation rules

The Brazilian Superintendence of Private Insurance has published a Regulatory Outcome Assessment report on the segmentation framework for SUSEP-supervised entities set out in National Council of Private Insurance (CNSP) Resolution No. 388/2020, focusing on the eligibility criteria for classification in segment S4. The assessment was selected because S4 represents the smallest size category and simplest risk profile among the defined segments and therefore benefits from multiple regulatory exemptions. Around three years after the resolution entered into force, SUSEP identified that few supervised entities had opted into S4 and used three indicators, two quantitative and one qualitative, to examine the reasons for the segment’s limited take-up as part of its 2025 regulatory agenda.