Sicredi reports growth in Brazilian life insurance market

The life insurance market in Brazil is experiencing growth as it becomes an increasingly important component of family financial planning. Sicredi, a cooperative financial institution, reported R$ 443.5 million in collected premiums, representing a 15.1% increase compared to the previous year and a jump of over 57% relative to 2023. In the first half of 2026 alone, the institution recorded nearly 146,000 new individual life insurance contracts, a 6% increase from the same period in 2025.

This trend aligns with broader market data from the Superintendência de Seguros Privados (Susep), which showed a 10.7% increase in life insurance revenue during the first four months of 2026. Experts attribute this rise to increased longevity; according to IBGE, life expectancy in Brazil has reached 76.6 years.

Sicredi has partnered with Icatu Seguros to launch ‘Seguro Vida Planejada’, a product designed to combine family protection with long-term financial reserves. Data shows that 51.5% of new policyholders are aged 18 to 40, while 36.5% are between 41 and 60, and 11.7% are seniors over 60.