IRB Brasil Resseguros (IRBR3) posted net income of R$ 157.5 million in the second quarter of 2026 (2Q26), up 9.7% from the same period in 2025. In the six months ended June 30, 2026, net income totaled R$ 259 million, compared with R$ 262 million in 2025, according to the operational and financial performance report on Visão Negócio.
In 2Q26, the underwriting result (underwriting income) totaled R$ 250.3 million, an increase of 9.3% compared with the R$ 229 million in 2Q25, while financial and investment income reached R$ 167.4 million, 3.1% above the figure recorded a year earlier. Written premiums came to R$ 1,154.2 million, down 14.1% year over year, and earned premiums fell 8.3% to R$ 788.7 million, in line with a 5.4% reduction in retained premiums to R$ 782.6 million.
The consolidated loss ratio closed the quarter at 41.8%, compared with 51.9% in 2Q25, with retained claims of R$ 329.6 million, 26.2% lower than in the same period of the previous year. The combined ratio stood at 92.0% in 2Q26, versus 89.8% in 2Q25, driven mainly by a 7.2 percentage point increase in the Other Operating Income and Expenses ratio, which reached 7.2% of earned premiums due to the establishment of an expected credit loss provision on receivables in the Life segment.
Administrative expenses totaled R$ 120.8 million in 2Q26, up 23.1% from the R$ 98.2 million in 2Q25, and represented 15.3% of earned premiums. Tax expenses reached R$ 76.1 million in the quarter, 48.3% higher than in 2Q25, reflecting, among other factors, the write-off of R$ 46.2 million in deferred tax assets for PIS/COFINS related to technical provisions for claims, in the context of the tax reform.
In the first half of 2026, IRB Brasil Resseguros distributed dividends of R$ 48.6 million, with a per-share amount updated by the Selic rate through April 17, 2026 of R$ 0.619215297409, and Interest on Equity (JCP, Juros sobre Capital Próprio) of R$ 77.9 million, credited in three income tax–net payments in the months of May, June and July. On June 30, 2026, the company also reported adjusted shareholders’ equity sufficiency of R$ 1,862 million in relation to the minimum required capital, corresponding to a solvency ratio of 316%.
