BB Seguridade (BBSE3) revised, on November 3, 2026, its 2026 guidance for Brasilseg written premiums, which went from a change between -3% and +2% to a decline between 11% and 15% (-15% to -11%). The change reflects the most recent performance and expectations for the rest of the year. In the year through September 2026 (9M26), written premiums fell 9.2% compared with the same period in 2025, below what was projected, impacted by the rural insurance, credit life (prestamista) and life insurance segments.
The other two guidance indicators for 2026 were maintained and exceeded the ranges set for the year in the cumulative period through September. Non-interest operating income (ex-holding) changed by -1.2% in the period, versus guidance of -7% to -3%. Performance was driven mainly by the loss ratio (the proportion of claims relative to premiums) of the insurance operation, which was better than expected, and by a higher volume of management fee revenue in the pension business.
Brasilprev's PGBL and VGBL pension reserves grew 12.6% in the year through September, above guidance of +8% to +11%. According to the company, the increase resulted from net inflows and reserve returns above projections.
