The market’s liberalization is among the government’ priorities

The opening of the insurance market stands among the government's top three priorities for the year 2005. With a 1.1 billion USD premium amount in 2004, IRB-Brasil, set up in 1966, is currently benefiting from a monopoly status. The liberalisation project envisages splitting IRB up into two firms. Brazil and Costa Rica are the sole countries in the area operating in a sector that is still under state monopoly.