Porto Seguro sees strong growth in rental surety segment

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Monday, April 15, 2019

Brazilian insurer Porto Seguro saw written premiums in the rental surety bond segment increase 48% year-on-year in January-February.

In the press release the company did not say how much the premiums were.

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"People are increasingly looking for safe alternatives that make everyday life easier. In addition, there is a growing concern about possible financial contingencies due to the scenario of Brazil's political and economic uncertainties. These factors, together with the constant improvements we implement in the product, are responsible for our growth ", said Luiz Henrique, head of financial risks at Porto Seguro.

Porto Seguro has a strong focus on vehicle insurance and is in the process of expanding its presence in other segments.