Annual
Report 2013

Even though the current state of affairs is challenging, we expect it to be good for businesses by bringing us new investment opportunities, which is crucial to support a stronger growth of the Brazilian economy.

The retirement industry should keep growing in the next few years, since Brazilians are increasingly aware of the need to save due to a longer life expectancy and a better income access. Retirement discipline is becoming more important for people, which, besides providing savings that foster financial stability and independence, enables different life plans.

We focus on understanding people's needs and offering them solutions so they can have an effective long-term savings tool. For the business segment, we will continue to revamp our portfolio of products and services for midsize and big businesses.

As one of the key companies in the retirement industry, we will also attend the meetings held by the Brazilian Retirement and Annuity Federation (FenaPrevi, acronyms in Portuguese), which should discuss, among other topics, an increase in variable-income investments in retirement plans to boost diversification and deliver better results to our clients.