Rio to Host World Microinsurance Conference, a Market Led by Bradesco Life and Pension Plans

By Bradesco Seguros, PRNE
Tuesday, December 14, 2010

RIO DE JANEIRO, December 15, 2010 - In 2011 the city of Rio de Janeiro will host the seventh worldwide
conference of microinsurance programs for low income families that provides
coverage for specific risks in the amounts appropriate for the needs of this
group. The event will be promoted by the Foundation and the Microinsurance
Network, an organization made up of members belonging to Insurance and Social
Protection Companies, Insurance Professionals, Experts in Microinsurance,
Sponsors, Academics and Non Governmental Organizations, with the objective of
presenting and discussing new tools, products and successful experiences for
including low income households in the insurance market, in addition to a
general exchange of information.

In Brazil, Bradesco Seguros has been a leading company in offering
products with the same concept and philosophy of microinsurance -still under
discussion in the Brazilian Congress. Bradesco will close 2007 with the sale
of 500,000 Bradesco First Protection policies, an insurance plan with monthly
payments of R$ 3,50 (US$ 1,65) and up to R$ 20 mil (US$ 12.000,00) in
coverage in the case of accidental death, with coverage that is suited to
their needs.

Eugenio Velasques, the Chief executive of the Bradesco Seguros and
Bradesco Life and Pension Plans, explains that Bradesco First Protection
began to be tested in its pilot version in two of the largest Brazilian
slums: Rocinha (Rio de Janeiro) and Heliopolis (Sao Paulo).

"The acceptance of the product has to do with the needs of lower income
households, that are exposed to the risks inherent in modern life every day,
to assure family protection."

Since 2008 the Grupo Bradesco Seguros has carried out various surveys to
learn about and understand the needs of lower income families in detail -
which led to the introduction of two products and provided the basis for the
introduction of two other products, including "combos"-a basket of different
types of coverage, including residential protection and life insurance, as
well as simpler pension plans, since this product has become increasingly
important on the list of desires of the Brazilian population regardless of
their social class.

At a press conference held today, in Rio de Janeiro, Velasques presented
a summary of the results of the surveys that were carried out, underlining
the market opportunities for classes C, D and E, which accounts for 89.6% of
Brazil's population, with the emphasis on class C, which has a monthly income
of between US $656 and US $2,827 per month, and which grew by more than 27.5
million persons during the last decade. "Insurance is seen as one of the last
frontiers for inclusion. Sales to this class accounted for less than 1% of
the GDP in Brazil in 1980, and represented 3.4% in 2009, and could double in
size by 2020, as a result of the inclusion invited by micro-insurance, the
evolution of the economy, the greater supply of products and the increase in
income of Brazil's population."

The largest insurance company in Latin America, the Grupo Bradesco
Seguros is the only insurance company to have at least one insured person in
every Brazilian city, and has accepted the challenge of providing access for
the majority of results population that today is not covered by life
insurance or any other kind of insurance to protect himself, his family
members and/or future generations.

During the World Conference, Bradesco Seguros will present its experience
gained so far as well as new products that will be implemented in the coming

For Bradesco Seguros, inclusion of Brazilians in the insurance market is
strategic, because in addition to aligning the portfolio of the insurance
company with Bradesco Bank, it will increase the productivity of this banking
channel, which today is present in 5,564 municipalities in Brazil.

    Additional Information:
    Paula Dourado
    Phone: +55-11-3684-7184

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

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