Brazil business report: Insurance profits rise 10.9% as top companies grow

Brazilian insurance companies reported a 10.9% increase in net profit during the first half of the year, totaling R$ 21.5 billion. Market revenue reached R$ 114.3 billion, a 6.4% increase compared to the same period in 2025. Growth was driven largely by the Life and Automobile segments, which accounted for 77% of the expansion. Notably, the sector's loss ratio fell to a historical low of 37.7%.

In contrast, the Rural segment saw a 4.8% contraction, primarily due to declines in agricultural insurance (-14.5%) and rural pledge insurance (-14%). Meanwhile, the Credit and Guarantee segment grew by 22.9%, bolstered by the Public Sector Guaranteed Segment.

Regarding Brazil's largest companies, the top ten recorded a 39% increase in net profit. Petrobras remained the leader in net revenue, seeing a 1.4% increase despite falling oil prices, supported by an 11% rise in production and record exports. JBS also showed robust growth, with revenue increasing by 15.3%. Conversely, Raízen experienced an 11.5% drop in net revenue due to lower sugarcane milling caused by adverse weather, which also impacted the holding company Cosan.