INSUBCONTINENT EXCLUSIVE:
Brazilian insurance leader Icatu Seguros delivered impressive financial results for 2024, with profits jumping 25% to R$439.2 million ($73.2
Retained premiums in this segment reached R$5.1 billion ($850 million), representing a 20% year-over-year growth
insurance companies with 100% national capital for more than 30 years
The company maintains leadership among independent insurers in the life and pension segments across the Brazilian market.The pension
business displayed solid performance with contributions increasing 6% to R$6.4 billion ($1.07 billion)
Reserves grew 7% to R$56.2 billion ($9.37 billion)
Icatu currently manages over 400 pension funds for clients nationwide.Capitalization also contributed significantly to growth
Revenue in this segment rose 9% to R$2.8 billion ($467 million), with reserves growing 7% to approximately R$4 billion ($667
million).Brazilian Insurance Leader Icatu Seguros Reports 25% Profit Growth in 2024
(Photo Internet reproduction)Marcio Palmeira, CFO of Icatu Seguros, attributes this success to strategic expansion of distribution networks
investing heavily in technology and innovation
The company plans to invest more than R$400 million ($67 million) in 2024 for enhanced digital experiences and technological
Industry forecasts suggest more modest growth ahead for 2025.With 38 branches nationwide and over 9 million active clients, Icatu Seguros
aims to maintain its growth through continued innovation and market expansion across Brazil.
