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Brazilian Insurance Industry Continuing To Grow Rapidly

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NU Online News Service, Aug. 20, 12:16 p.m. – Economic stability has helped Brazilian insurers increase total premium revenue 89.8% from 1994 to 2000.

Overall insurance industry premium revenue reached 10.3 billion reals for the first five months of the year, or $4.1 billion, using an exchange rate of $1=2.52 reals, according to statistics from the office of the Brazilian superintendent of private insurance and a report from the online edition of O Globo, a Brazilian business daily.

The insurance industry now has a 3% share of the Brazilian gross domestic product, up from 1% in 1994, and the industry continues to grow, officials say.