Brazil's Bradesco Seguros launches pet residential insurance as market study shows shifting pet food preferences

Bradesco Seguros announced that in October it will launch a residential pet insurance product for dogs and cats. The policy covers veterinary consultations, up to R$ 600 in cremation expenses and telephone psychological support for owners after a pet's death. The insurer aims to capture a larger share of Brazil's growing pet market, where 72% of households own at least one animal and residential insurance penetration remains low.

A CVA Solutions study of 4,032 Brazilian pet owners found a marked shift in pet food purchases. Ownership of dry kibble fell from around 80% to 63% for dogs and from 76% to 59% for cats between 2014 and 2026, while wet food in sachets rose to over 35% for dogs and 57% for cats. Monthly pet spending averages R$ 690 for dogs and R$ 574 for cats, driven by food, hygiene, health care and now insurance. The trends reflect greater humanization of pets and a willingness to spend on premium products and services.