Brazilian insurers moderately optimistic

Confidence levels remain reasonably high among Brazilians insurers, with continuing to show moderate optimism.

According to local consultancy group Rating de Seguros, four different confidence indices were at levels of between 120 and 130 points in March, indicating an optimistic view of the sector.

The surveys were carried out with insurers, reinsurers and brokerages.

The optimism has come about as a result of the country's economic recovery after two years of recession in 2015 and 2016. Brazil's economy expanded 1% last year and is projected to grow 3% this year, according to the finance ministry.