At a glance: The main players in Brazilian health insurance
Bnamericas Published: Friday, August 09, 2019
In line with a slight uplift in employment, more Brazilians were covered by private health insurance in the first half of the year. At end-June, 47.3mn Brazilians had a plan, up 0.22% from a year ago, according to sector regulator ANS.
Unemployment decreased to 12% in 2Q19, the most recent figure statistics bureau IBGE published, down from 12.7% in the first quarter.
Most health plans are bought by companies for their employees, so a drop in unemployment automatically lifts the health segment, which is the biggest market for Brazilian insurers in terms of revenue.
Health insurance overtook vehicle insurance in recent years as the population ages while quality public healthcare is lacking.
BNamericas takes a look at the five largest health insurance operators by number of beneficiaries.
No 1
Amil Assistencia Medica, controlled by US-based UnitedHealth, had 3.52mn beneficiaries in the period, earning it the top spot.
No 2
Bradesco Saúde is a subsidiary of Bradesco Seguros, the health insurance arm of local banking giant Bradesco. It covered 3.26mn beneficiaries by June.
No 3
Local health insurance company Hapvida Sistema de Saúde ended the first half with 2.42mn beneficiaries. This number will increase, as Hapvida went on an acquisition spree with the number of new clients added after regulators approve all the deals.
No 4
Notredame Intermédica had 2.27mn beneficiaries in its health segment by June.
No 5
The largest non-bank controlled insurer in Brazil, SulAmérica, had 1.8mn clients in by the end of the first half.
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