Brazil property buyers ‘may benefit from insurer expansion’
Brazilian property cover could become easier to secure as the South American country constitutes one of the main targets for companies from the world’s largest insurance markets.
More than eight out of ten insurers from industrialised countries said that emerging markets are a priority for expansion, with Brazil cited as the second biggest target for major firms, according to the research by Accenture.
"Having already maximised their domestic footprints, carriers are looking to emerging markets, where premium growth is significantly higher because of catch-up dynamics," said Serge Callet, managing director of the company’s insurance practice.
Meanwhile, three-quarters of respondents said they believe there are more growth opportunities outside of their home markets, which could mean investors find it easier to buy insurance on their Brazilian property in future.
The news follows an announcement from the country’s central bank that it is to buy $10 million (£6.1 million) of International Monetary Fund securities in order to help provide financing for emerging nations.
