摩根大通发布巴西医疗健康行业月报，基于ANS（巴西补充健康署）数据，追踪健康险与牙科险的会员基数变化。报告先给出市场总览：月度净增、12个月净增、退保与流失率，以及各运营商的市场份额，并按个人、企业及中小企业、团体等计划类型拆分。区域层面，东南部单月净增约9.33万人，居各区域之首；南部净增1.55万、中西部7900人，北部仅约700人，东北部则净减5300人，区域表现分化明显。个股方面重点覆盖Hapvida与SulAmerica：Hapvida会员约880万，同比接近零增长，7月净减少9000人，个人险与亲和计划持续流失，企业及中小企业端相对平稳，圣保罗州占其会员的41.4%；SulAmerica会员约320万，同比增长16.3%，7月净增9万人，但退保率仍在负增长区间。牙科板块则单列市场概览与主要运营商分析。
J.P. Morgan's monthly tracker on the Brazilian healthcare sector uses ANS data to monitor the beneficiary base of health and dental plans. The report first covers the overall market: monthly net adds, 12-month net adds, cancellations and churn, and market share by operator, broken down by individual, corporate/SME and affinity plan types. At the regional level, the Southeast led monthly net adds at roughly 93,300 lives, followed by the South at 15,500 and the Mid-West at 7,900, while the North added only about 700 and the Northeast lost 5,300, highlighting marked regional divergence. On individual names, the report focuses on Hapvida and SulAmerica: Hapvida has about 8.8mn beneficiaries with roughly flat year-on-year growth, posting a net loss of 9,000 in July as individual and affinity plans kept shrinking while the corporate/SME segment held steady, with Sao Paulo accounting for 41.4% of its base; SulAmerica has about 3.2mn beneficiaries, up 16.3% year on year, adding 90,000 in July