Bradesco Seguros e Previdência
Bradesco Seguros, headquartered in the city of Rio de Janeiro, provides a wide range of insurance products to individuals and corporate clients in Brazil, and also offers insurance products not only on an individual basis, but also under corporate agreements, according to which companies’ employees are insured. Bradesco Seguros’ products include health, life, personal accident, automobile insurance and other assets, with health insurance comprising the largest portion of its insurance area.
Because of its solid structure, innovative product policy and the trust it has earned in the market, Bradesco Vida e Previdência accounted for 25.8% of the pension plan and VGBL income. (Source: SUSEP - February 2015).
The net profit of the quarter increased by 10.0% over the previous quarter, due to: (i) an improved financial income; and (ii) the improvement in the administrative efficiency ratio, even considering the collective bargaining agreement, in January 2015.
Net income for the first quarter of 2015 was up 19.2% over the same period in the previous year, mainly due to: (i) a 26.5% increase in revenue; (ii) a 3.2 p.p. reduction in the expense ratio; (iii) na improved financial income; (iv) improvement in the administrative efficiency ratio, even considering the collective bargaining agreement, in January 2015; partially offset by: (v) a 5.4 p.p. increase in the claims ratio; and (vi) a decrease in the equity result.
In March 2015, technical reserves for Bradesco Vida e Previdência stood at R$ 137.3 billion, made up of R$ 130.6 billion from Pension Plans and VGBL and R$ 6.7 billion from Life, Personal Accidents and Other Lines, resulting a growth of 2.6% over December 2014. The Pension Plan and VGBL Investment Portfolio accounted for 32.0% of market funds in February 2015 (Source: Fenaprevi).
Bradesco Saúde and Mediservice
The companies have a combined total of over 4.5 million customers. The large share of corporate insurance in this portfolio (96.0% in March 2015) is proof of its high level of specialization and customization in the provision of group plans.
In March 2015, Bradesco Saúde and Mediservice maintained strong market position in the corporate segment (source: ANS).
Approximately 110 thousand companies in Brazil have Bradesco Saúde insurance and Mediservice plans.
Of the 100 largest companies in Brazil in terms of revenue, 54 are Bradesco Saúde and Mediservice customers (source: Exame magazine’s Melhores e Maiores ranking, June 2014).
Bradesco Capitalização ended the first quarter of 2015 in first place among the capitalization bond companies, due to its policy of transparency and of adjusting its products based on potential consumer demand and consistent with the market changes.
Concerned with providing products that better fit the most varied profiles and budgets of our customers, Bradesco Capitalização has a product portfolio ranging by payment method (lump or monthly), contribution term, periodicity and value of premiums that meet requirements and expectations of customers.
Combining a pioneer spirit with business strategic view, Bradesco Capitalização has launched onto the market products concerned with socioenvironmental causes, in which part of the revenue goes to projects with this purpose. In addition to offering to customers the possibility of creating a financial reserve, Capitalization Bonds with socioenvironmental profile seek to raise our customer’s awareness about the importance of this theme and allow them to participate in a noble cause that benefits society.
Bradesco Capitalização currently has partnerships with the following institutions: (i) SOS Mata Atlântica Foundation (which contributes to the preservation of biological and cultural diversity of the Atlantic Forest, stimulating social and environmental citizenship); (ii) Amazonas Sustentável Foundation (which contributes to the sustainable development, environmental preservation and improvement to the quality of life of communities that benefit from preservation centers in the state of Amazonas); (iii) the Brazilian Cancer Control Institute (which contributes to the prevention, early diagnosis and treatment of breast cancer in Brazil); and (iv) Tamar Project (created to preserve sea turtles).
In the Property Insurance segment, the focus on large brokers and Corporate and Middle Market customers was maintained. This results in renewal of the main accounts, whether in leadership or participation in co-insurance. Also note the excellent performance of the Engineering Risks segment: the partnership with the Real Estate Loan area has enabled new insurance contracts from its customer base.
Despite strong competition in the Auto/RCF line, the insurer maintained its fleet at approximately 1.6 million vehicles, guaranteed by the maintenance of competitiveness, mainly due to the establishment of a refined and segmented quoting process. Another important fact relates to improvements to current products and the creation of products for a specific target market. Among them, it is worth noting the launch of the First Vehicular Protection of Bradesco Seguro (Bradesco Seguro Primeira Proteção Veicular), exclusive to Bradesco’s account holders, which helps, through the Day and Night Support services, new vehicles and vehicles of up to 15 years of use.
Mass insurance targets individuals, self-employed professionals and SMEs. The launch of new products combined with the continuous improvement to methods and systems has contributed to maintenance of customer base.