Brazil's insurance market undergoes broker restructuring and cyber‑claim boom

Regulatory changes are reshaping Brazil’s insurance sector. The number of individual insurance brokers remains steady at about 85,000, while registered broker firms have fallen to under 64,000, a shift attributed to new CNS P rules that separate the broker profession from owning a brokerage. Strategist Genival de Souza e Silva notes that the July CNS P resolution consolidates broker licensing rules, ending the historic economic necessity for brokers to own their own firms.

At the same time, cyber‑insurance payouts have surged, with insurers paying almost R$30 million in claims from January to April 2026—a 253 % increase year‑on‑year—while premiums grew 71 %. The Susep has issued a new manual on cyber‑security best practices, and the CNseg’s incident‑sharing platform is expanding, reflecting heightened awareness of digital risks among Brazilian insurers.