Bradesco Aims for 20 Million New Customers in the Coming Years

By Bradesco Seguros, PRNE
Monday, December 20, 2010

SAO PAULO, December 21, 2010 - The following was released today by Bradesco Seguros (NYSE: BBD)


Bradesco Seguros, the largest insurance group in Latin America with
approximately 36 million policyholders and annual revenue around US$ 14
, hopes to add 20 million new clients, leveraged primarily on the
strength of microinsurance, an insurance program tailored to the low-income
population with coverage for specific risks and at amounts that are suitable
for this segment. The estimate was made by the executive director of the
Group, Eugenio Velasques. His forecast was based on a survey by the Getulio
Vargas Foundation (FGV) that estimates the potential public for these
products to be 100 million Brazilians who are currently outside the insurance
market. The regulation of the microinsurance market is still under
consideration by the Brazilian Congress and it is expected that legislation
allowing these products to be offered will be approved early in 2011.
According to the Bradesco executive, a project designed exclusively to meet
both the terms of the regulations and that also is flexible will be critical
for success in the Brazilian microinsurance market.

Grupo Bradesco Seguros, according to Velasques, first offered products
with the concept and the philosophy of microinsurance, such as Primeira
Protecao Bradesco (Bradesco First Protection), in January of this year in the
Rocinha (Rio de Janeiro state) and Heliopolis (Sao Paulo state) slums
("favelas"). The company expects to close 2010 having underwritten more than
560,000 policies, with monthly premiums of R$ 3.50 that will pay an
accidental death benefit of R$ 20,000 to the beneficiaries of the
policyholder. Another example of product is Bradesco Bilhete Residencial -
"Estou Seguro!" Project (Bradesco Home Insurance - "I'm Safe!" Project), that
was launched in September 2010 in the Morro Dona Marta slum ("favela") (Rio
de Janeiro
state). With yearly premiums of R$ 9.90, it offers insurance for
residential fire, explosion or lightning, with coverage up to R$ 10,000.
Velasques also said Bradesco had decided not to wait for implementation of a
regulatory framework for microinsurance to be formalized before testing the
market. He noted that after more than 80 surveys in recent years and the
Organization's existing track record of meeting the needs of low-income
segments, the company already had the necessary elements to conduct a pilot
test in this important segment.

Bradesco Seguros, which is the only insurance company to have at least
one insured person in every city in Brazil, relies on the strength and the
presence of Banco Bradesco and a network of insurance brokers in 5,564
municipalities in Brazil, offering access to a large portion of the Brazilian
population that today has neither life insurance nor any other kind of
insurance protection.

Bradesco Seguros will introduce new products in 2011

After the passage of the bill regulating this new insurance policy model,
Grupo Bradesco Seguros expects to offer 8 new microinsurance product options
with monthly premiums ranging from R$ 3 to R$ 15. The insurance programs
basically combine two or three different kinds of coverage/protection: one
for home and life insurance; another for personal accident with financial
protection/unemployment; and a third for financial protection with funeral

The insurance company, in addition to new products, is developing a
series of projects that include changes in operating processes, improvements
in IT and the establishment of alternative distribution channels to reach
these 20 million new clients.

Special Event Support

The experience that Grupo Bradesco Seguros has gained in the growing
market in Brazil will be presented during the 7th World Microinsurance
Conference in November 2011. This important and essential insurance industry
event is being sponsored by the Munich Re Foundation with the support of the
Microinsurance Network and CNSEG (National Confederation of General and Life
Insurance, Supplementary Health and Pension Plans and Capitalization

Paula Dourado, +55-11-3684-7184, 5310.leonese at

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