The Brazilian Superintendence of Private Insurance (SUSEP) published its Boletim Susep with consolidated 2025 results for the insurance, open private pension and capitalisation markets. The supervised sector collected BRL 415.09 billion in 2025, a nominal decrease of 4.75% versus 2024, while payments to policyholders and participants increased, with indemnities, surrenders, benefits and draws totalling BRL 265.30 billion, up 9.54% year on year. Technical provisions reached a record level, rising to around BRL 2.06 trillion in December after surpassing BRL 2 trillion in October, equivalent to 16.15% of Brazil’s GDP. In insurance lines excluding VGBL, property and personal insurance revenues totalled BRL 223.30 billion, up 7.82% nominally, with motor insurance up 6.79% nominally (1.66% in real terms) and life insurance up 12.70% nominally (7.27% in real terms). SUSEP also pointed to 2025 regulatory milestones including Complementary Law No. 213/2025 on insurance cooperatives and mutualist property protection groups, the entry into force of Law No. 15.040, a public consultation on property insurance contracts, and the publication in November of new rules for universal life insurance.

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