Brazil Car Insurance Market Size and Share
| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 11.36 Billion |
| Market Size (2030) | USD 14.84 Billion |
| CAGR (2025 - 2030) | 5.49% |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Brazil Car Insurance Market Analysis by Mordor Intelligence
The Brazil Car Insurance Market size in terms of gross written premiums value is expected to grow from USD 11.36 billion in 2025 to USD 14.84 billion by 2030, at a CAGR of 5.49% during the forecast period (2025-2030).
The Brazilian insurance market is regulated by the Superintendência de Seguros Privados (SUSEP), which establishes rules and standards for the industry. Motor insurance is the second largest line in the Brazilian general insurance industry. In Brazil, all car owners must include a compulsory insurance policy called "Danos Pessoais Causados por Veículos Automotores de Via Terrestre" (DPVAT). This insurance covers personal injury or death caused by vehicles. Some insurers in Brazil introduced telematics programs that monitor driver behavior. Safe driving habits can lead to discounts on insurance premiums, which is an emerging trend in the market.
Economic conditions in Brazil can influence the car insurance market. Economic changes, such as inflation and unemployment rates, can affect consumer spending and insurance demand. As the middle class in Brazil expands, more people are buying cars and becoming aware of the importance of insurance for protection in case of accidents or theft. The industry is gradually undergoing digital transformation. More insurers are offering online services, such as online quotes, policy purchases, and claims processing. This trend is likely to continue as consumers seek greater convenience and transparency.
Brazil Car Insurance Market Trends and Insights
Increasing Registrations of Electric Vehicles in Brazil
The increasing registrations of electric vehicles in Brazil can be attributed to several factors, including governmental awareness. The Brazilian government introduced policies and incentives to promote electric vehicles, such as tax breaks and subsidies. Additionally, concerns about air pollution and a desire to reduce greenhouse gas emissions drove consumers and businesses to adopt cleaner transportation options. As infrastructure for charging stations improves and EV prices become more competitive, the trend of increasing EV registrations will likely continue in Brazil. The sales volume of EV cars in the country is observing an increase as well, increasing the number of car insurance policies purchased.
Leading Share of Passenger Cars
Brazil is among the ten countries where the greatest number of cars were registered in the last year, in the ranking of 137 countries based on the number of vehicle registrations according to "country economy." The growth in passenger vehicle sales in Brazil over the past decade was driven by a combination of national economic growth, more favorable consumer credit policies, and fiscal incentives from the government. The introduction of new car models with innovative features and improved fuel efficiency can attract buyers. Special promotions, discounts, and marketing campaigns by automakers are boosting the sales of passenger cars.
Competitive Landscape
The Car Insurance market in Brazil is highly competitive. The Brazilian Car insurance market is served by numerous insurance companies, including both domestic and international providers. Many insurers embraced digital platforms to offer quotes, purchase policies, and manage customer accounts. Technological and product innovation in the market is leading to a wide range of car insurance products being offered to car owners, consisting of personal and third-party liability insurance. Some of the existing players in the United Kingdom Car Insurance Market are Bradesco Saude SA, Amil Assistencia Medica Internacional S/A, Sul America Companhia de Seguro Saude, Porto Seguro Companhia de Seguros Gerais, and Mapfre Seguros Gerais SA.
Brazil Car Insurance Industry Leaders
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Bradesco Saude SA
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Amil Assistencia Medica Internacional S/A
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Sul America Companhia de Seguro Saude
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Porto Seguro Companhia de Seguros Gerais
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Mapfre Seguros Gerais SA
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- June 2023: Brazil is all set to partially introduce a federal diesel tax this year to bring down automobile costs for the people at large. Tax credits would be offered as incentives to automobile manufacturers who opt to bring down the prices of their respective models.
- April 2023: Justos, a Brazil-based auto InsurTech startup, raised USD 5.5 million in funding. Justus is different which offers auto insurance with more driver-friendly pricing. Justus uses machine learning to create models that can predict claims and, as a result, charges an individualized value for each driver.
Brazil Car Insurance Market Report Scope
Car insurance is a contract between the car owner and the insurance company where the car owner agrees to pay a fixed premium rate over some time for protection against financial loss in the event of any damage or loss to the car. Rising digital insurance and product innovations in the market are making car insurance products more inclusive among car owners.
The study gives a brief description of the Brazilian car insurance market. It includes details on car insurance premiums, investment by car insurance companies, and the launch of new car insurance products. The Brazilian car insurance market is segmented by coverage, application, and distribution channel. By coverage, the market is segmented into third-party liability coverage and collision/comprehensive/other optional coverage. Other optional coverage includes roadside assistance insurance, new car replacement coverage, and rental car reimbursement insurance. By application, the market is segmented into personal vehicles and commercial vehicles. By distribution channel, the market is segmented into direct sales, individual agents, brokers, banks, online, and other distribution channels. Other distribution channels include financial institutions other than banks, phone marketing, and mail marketing. The report offers market size and forecasts for the Brazil car insurance market in value (USD) for all the above segments.
| Third-Party Liability Coverage |
| Collision/Comprehensive/Other Optional Coverage |
| Personal Vehicles |
| Commercial Vehicles |
| Direct Sales |
| Individual Agents |
| Brokers |
| Banks |
| Online |
| Other Distribution Channels |
| By Coverage | Third-Party Liability Coverage |
| Collision/Comprehensive/Other Optional Coverage | |
| By Application | Personal Vehicles |
| Commercial Vehicles | |
| By Distribution Channel | Direct Sales |
| Individual Agents | |
| Brokers | |
| Banks | |
| Online | |
| Other Distribution Channels |
Key Questions Answered in the Report
How big is the Brazil Car Insurance Market?
The Brazil Car Insurance Market size is expected to reach USD 11.36 billion in 2025 and grow at a CAGR of 5.49% to reach USD 14.84 billion by 2030.
What is the current Brazil Car Insurance Market size?
In 2025, the Brazil Car Insurance Market size is expected to reach USD 11.36 billion.
Who are the key players in Brazil Car Insurance Market?
Bradesco Saude SA, Amil Assistencia Medica Internacional S/A, Sul America Companhia de Seguro Saude, Porto Seguro Companhia de Seguros Gerais and Mapfre Seguros Gerais SA are the major companies operating in the Brazil Car Insurance Market.
What years does this Brazil Car Insurance Market cover, and what was the market size in 2024?
In 2024, the Brazil Car Insurance Market size was estimated at USD 10.74 billion. The report covers the Brazil Car Insurance Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Brazil Car Insurance Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Brazil Car Insurance Market Report
Statistics for the 2025 Brazil Car Insurance market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Brazil Car Insurance analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
