BB Seguridade (BBSE3) reports R$ 6.8 bn profit in 9M26

Operating income (net of taxes) totaled R$ 5.2 bn in 9M26, down 1.1%, a decline of R$ 61 mn. Consolidated financial result was R$ 1.6 bn (R$ 1,565 mn, vs. R$ 1,498 mn in 9M25), up 4.4%, and accounted for 23.0% of net income, vs. 22.0% in 9M25. In 3Q26, the financial result was R$ 656 mn, vs. R$ 715 mn in 3Q25. The loss ratio was 22.7%, down 0.5 percentage point.

At Brasilseg (insurance), written premiums totaled R$ 11.1 bn in 9M26, down 9% (R$ 12.2 bn in 9M25). The segment's recurring profit was R$ 3,482 mn, down 4%. The rural line accounted for 46.8% of premiums, followed by life (22.9%) and credit life (20.4%). The combined ratio was 65.5%, vs. 64.5% in 9M25.

In pension plans, reserves reached R$ 514.2 bn in September 2026, up 12.1% from September 2025. Net inflows were R$ 4.5 bn in 9M26, vs. net outflows of R$ 9.1 bn in 9M25. Contributions totaled R$ 39 bn (+6%), management fee revenue was R$ 3,056 mn (+7%) and the segment's profit was R$ 1,586 mn (+7%). In capitalization plans, collections were R$ 5.2 bn (-3.6%), prizes paid totaled R$ 60.3 mn (+18.1%) and profit was R$ 270 mn (+23%). At BB Corretora, brokerage revenue was R$ 4,200 mn (-2%) and profit was R$ 2,618 mn (-2%).

Consolidated cash generation, before dividends and share buybacks, was R$ 4.6 bn. The company distributed R$ 3.9 bn in dividends in the first half of 2026, equivalent to 88.1% of profit. In 9M26, earnings per share were R$ 3.50.

The company revised its 2026 guidance on November 3 for Brasilseg written premiums, from a decline of 3% to an increase of 2% to a contraction of 11% to 15%. In 9M26, the realized change was -9.2%. Guidance for Brasilprev's PGBL and VGBL reserves (increase of 8% to 11%; realized 12.6%) and for non-interest operating income (decline of 3% to 7%; realized -1.2%) was maintained.