With large and growing agricultural, mining, manufacturing and service sectors, Brazil economy ranks highest among all the South American countries and it has also acquired a strong position in global economy. An abundance of resources, a vibrant population of 194 million, solid macroeconomic fundamentals (projected GDP growth of 4% in 2010), improving living standards and political stability bode well for this emerging giant. Furthermore, having recently being awarded the World Cup in 2014 and the Olympics in Rio in 2016, there will be no shortage of infrastructure and modernization projects.
This is a great time for the insurance industry in Brazil. The industry is poised to grow exponentially, by insuring giant construction works, such as the World Cup and the PAC (Brazilian Growth Acceleration Program), and by attracting millions of Brazilians who embody the new emerging middle class to buy insurance for, in many cases, the first time in their lives.
