The nation is gearing up for high stakes negotiations with the US and Canada to decide the fate of the ageing free trade agreement.
Icatu saw a small profit increase while SulAmérica enjoyed double-digit earnings growth.
BNamericas spoke with World Bank expert Emmanuel Skoufias about how the Bolsa Família program can help reduce poverty and what the country can do to close its inequality gap.
The outlook remains negative, reflecting the one-in-three chances that S&P could lower the ratings over the next 12 months, said the ratings agency in a press release.
For the first time in the company's history, revenues and total premiums exceeded US$1bn, said Pan-American Life Insurance Group (PALIG) in a press release.
The company's assets under management rose by 33% last year.
Jorge Luz and his son, Bruno Luz, are being investigated for corruption, money laundering and foreign exchange-related crimes in connection with the so-called Lava Jato corruption scheme.
The company's head of property and specialty reinsurance will replace him in the role.