On Monday, August 3, 2026, BB Seguridade (BBSE3) reported recurring adjusted net income of R$ 4.4 bn in the first half of 2026, an increase of 3.2% compared to the same period in 2025. The group’s operating result was supported by growth in management fee income and improved operating efficiency at Brasilprev, as well as the maintenance of the insurance operation’s loss ratio at its lowest historical level.
The combined financial result of BB Seguridade and its investees totaled R$ 909.1 mn in the half-year, already net of taxes, up 16% year over year, driven by higher returns on financial assets.
In the insurance business, recurring adjusted net income fell 0.8% in the half-year, impacted by a 2.3% decline in the non-interest operating result and a 3.8% drop in the financial result. Written premiums decreased 3.5%, mainly reflecting the reduction in agricultural, rural pledge and life insurance, while rural producer life insurance grew 14.9% and homeowners insurance advanced 22.9%.
The pension business posted adjusted net income of R$ 875.5 mn in the first half of 2026, up 13.5% versus 1H25, driven by a 6.9% increase in management fee income, a 2.4 percentage point improvement in the efficiency ratio and 40.7% growth in the financial result. Net inflows came to R$ 2.8 bn, compared to net redemptions of R$ 5.2 bn in 1H25, supported by 7% growth in contributions and lower redemption and portability ratios, which allowed Brasilprev to reach in July the milestone of R$ 500 bn in assets under management.
In the capitalization segment, net income reached R$ 179.3 mn in 1H26, an increase of 40.5% over the same period in 2025, with a 38.8% rise in the financial result, higher financial margin and growth in the average balance of assets. According to Susep data for May, Brasilcap remains the market leader with R$ 11.5 bn in reserves, equivalent to 25.7% of the total, while BB Corretora reported net income of R$ 1.7 bn in the half-year, practically stable compared to 1H25.
