The National Insurance Companies Union (CNSEG) states that the entry of new capital and solvency rules may affect the display of long -term insurance products and private pension companies. According to the entity, the benefit of this effect can increase.
Insurance companies state that Resolution 432/2021 of the National Special Insurance Council (CNSP) increases the requirements of capital for the sector without a relative increase in the risks assumed by companies. The criteria increase the capital cost of companies that offer long -term products by ordering higher capital reserves.
“Prudntial organization is necessary to maintain the financial security of the industry and the protection of consumers, however, when the requirements are unbalanced, they can limit the supply of products and increase customer prices,” says Alexander Lille, coach of CNSEG.
The entity stipulates that the base may cause the goal of this sector to reach 20 % of the Brazilian population that these products serve by 2030.
One of the models under study is the second, adopted system in Europe. The European model considers the true value of assets and opponents in calculating their own money and modified shares to assess the sheet. In Brazil, adjustments to the accounting public budget are considered.
The European model also adopts the margin of SO, which is a concept that does not exist in the Brazilian base, which according to CNSEG leads to a more accurate assessment.
According to the entity, a possible review of the Brazilian base relates to assessing the economic value of separate opponents at different levels of modified shares, not by the basic analysis of excess assets compared to the opponents. According to CNSEG, this creates restrictions on use.
The Federation discussed with the Special Insurance Director (SUSEP) and the Ministry of Finance to search for alternatives.
