Análise da abertura do mercado ressegurador no Brasil e seus efeitos na concentração e lucratividade
Data
2021-07-27
Autores
Machado, Heloísa Coelho [UNIFESP]
Orientadores
Cazzari, Roberto Bomgiovani [UNIFESP]
Tipo
Trabalho de conclusão de curso de graduação
Título da Revista
ISSN da Revista
Título de Volume
Resumo
A promulgação da Lei Complementar nº 126, de 2007, marcou a abertura do mercado ressegurador no Brasil, dando fim ao monopólio detido pelo IRB Brasil Resseguros. No período de 2008 a 2019, vislumbrou-se uma significativa expansão nos valores de prêmios emitidos. Diante das circunstâncias, o objetivo deste trabalho é avaliar os efeitos de variáveis econômicas e financeiras sobre a arrecadação de prêmios e lucros deste mercado. Para isso, foram utilizados os dados oficiais das resseguradoras ativas no período de interesse. As informações foram dispostas anualmente e analisadas sob o prisma da concentração de mercado, participação de um ramo específico no portfólio total da resseguradora e participação do ressegurador em grupo internacional. Como resultados, notou-se que o mercado ressegurador ainda se comporta de maneira concentrada, retendo grande parte dos prêmios emitidos entre poucos participantes de mercado e esta concentração tem efeito positivo sobre os prêmios emitidos. Notou-se também que resseguradoras pertencentes a grupos internacionais tendem a emitir mais prêmio do que as demais resseguradoras e finalmente, contrariando a lógica esperada, constatou-se que a participação dos ramos em relação ao portfólio total das resseguradoras influencia negativamente sua emissão de prêmios, ou seja, os ramos mais concentrados tendem a emitir menos prêmio.
The promulgation of the Completary Law 126, of 2007 marked the opening of the reinsurance market in Brasil, ending IRB Brasil Resseguros’ monopoly. In the period from 2007 to 2019, there was a dignificant expansion in the values of premiums issued. Under the circumstances, the goal of this work is to evaluate the effects of economic and financial variables on the collection of premiums and profits in this market. To accomplish it, official data from reinsurers active in the period of interest were used. The information was annually prepared and analyzed under the prism of market concentration, participation of a specific branch in the total portfolio of the reinsurer and participation in an international group. As a result, it was noted that the reinsurance market still behaves in a concentrated manner, retaining a large part of the written premiums among a few participants and this concentration has a positive effect on the written premiums. It was also noted that reinsurers belonging to international groups tend to issue more premiums than other reinsurers and finally, contrary to the expected logic, it was found that the participation of branches in relation to the total portfolio of reinsurers negatively influences their issuance of premiums, that is, the more concentrated branches tend to issue less premium.
The promulgation of the Completary Law 126, of 2007 marked the opening of the reinsurance market in Brasil, ending IRB Brasil Resseguros’ monopoly. In the period from 2007 to 2019, there was a dignificant expansion in the values of premiums issued. Under the circumstances, the goal of this work is to evaluate the effects of economic and financial variables on the collection of premiums and profits in this market. To accomplish it, official data from reinsurers active in the period of interest were used. The information was annually prepared and analyzed under the prism of market concentration, participation of a specific branch in the total portfolio of the reinsurer and participation in an international group. As a result, it was noted that the reinsurance market still behaves in a concentrated manner, retaining a large part of the written premiums among a few participants and this concentration has a positive effect on the written premiums. It was also noted that reinsurers belonging to international groups tend to issue more premiums than other reinsurers and finally, contrary to the expected logic, it was found that the participation of branches in relation to the total portfolio of reinsurers negatively influences their issuance of premiums, that is, the more concentrated branches tend to issue less premium.