Brazilian health insurance market posts tepid growth

The number of Brazilians covered by private health insurance plans increased slightly in April.

Some 47.33mn people had a health plan at end of April, up from 47.30mn at the end of April 2017, according to sector regulator ANS.

"The first four months of the year are being marked by stability in the data of health plan beneficiaries. The segment is very much linked to the economic performance of the country," said Solange Beatriz Palheiro Mendes (pictured), president of Brazilian federation of health insurers (FenaSaúde).

Brazil had one of its worst recessions in history in 2015-16. The economy recovered last year with a GDP expansion of 1% and is expected to grow around 2.5% this year.

"After a period of a deep crisis, the recovery of the economy is slow and gradual. As the main way of contracting the service is through corporate group plans, the segment functions as a thermometer of the economy," she added.

The majority of health plans in Brazil are purchased by companies for their employees.