Bb Seguridade Participacoes Sa · BMFBOVESPA:BBSE3
Bb Seguridade Participacoes Sa — Q2 2024 Earnings Presentation
17 slides from Bb Seguridade Participacoes Sa's earnings presentation, Aug 5, 2024
Slide 1: BB Seguridade Earnings presentation 2Q24
BB Seguridade Earnings presentation 2Q24
Slide 2: Highlights 1H24
Highlights 1H24 Premiums written Changes on 1H23 R$ 8.0bn (+5%) Insurance Loss ratio Net income 27% (-1.9 p.p.) R$ 4.2 bn Reserves R$410.3bn (+12%) +11.8% Pension plans Net inflows R$ 5.3bn (> 2x higher) Managerial net income¹ Collection R$ 3.7 bn R$ 3.2bn (+3%) +3.1% Premium bonds Reserves R$ 11.2b
Slide 3: Strategy in full execution
Strategy in full execution Expansion of business models Investment of R$258 mm R$75 mm in premiums written of large risks and transport insurance with partners brokers (+71%) IT infrastructure, cyber security, development of journeys and digital solutions 24 new partnerships machinery and agricultur
Slide 4: Customer experience at the center
Customer experience Providing tranquility at the center for customers in RS and SC NPS in the quality zone +6.4 pts in the last two years Postponement of cancellation of policies without payment Improvement in complaints Proactive contact with customers 89% success -12.3% in last 12-months compariso
Slide 5: Our numbers
g _< Our numbers ZA. ALSALS D1.
Slide 6: Extraordinary event | PCC constitution in Brasilprev
Extraordinay event | PCC constitution in Brasilprev Adjustments on BB Seguridade (Managerial net income) Quarterly Flow Chg. % Half-Yearly Flow Chg. % R$ million 2Q23 2Q24 On 2Q23 1H23 1H24 On 1H23 Net income 1,841 1,774 (3.7) 3,602 3,617 0.4 Net adjustment - 97 - - 97 - Equity income at Brasilprev
Slide 7: Managerial net income and net investment income
Managerial net income and net investment income¹ Adjusted managerial net income (R$mm) Consolidated net investment income³ (R$mm) 20.4% 19.8% 17.3% 15.3% 3,755 3,715 3,714 714 3,602 567 1,969 1,871 1,797 1,841 376 324 IGP-M lag (128) 74 (154) (0.2) 2Q23 2Q24 1H23 1H24 2Q23 2Q24 1H23 1H24 Adjusted ne
Slide 8: Adjusted net income main components
Adjusted net income main components (R$mm) Net investment income change Operating result change +R$260 mm -R$147 mm -R$150 mm (1H24) vs. +R$129 mm (1H23) +3.1% 8/17 1 –Changes in retained claims and acquisition costs considering the respective ratios reported in 1H23.
Slide 9: Brasilseg
Brasilseg Premiums written (R$bn) Premiums written by growth +5.0% YoY: -5% 8.0 Breakdown of 7.7 Chg. On 1H23 On 2Q23 premiums 1H24 Rural 47.1% +4.2% (3.2%) Credit life 23.2% +20.8% +6.7% 3.9 3.8 Term life 21.9% (0.8%) (4.0%) Corporate¹ 3.0% (32.8%) (88.8%) Home 2.7% +14.8% +13.1% Mortgage +3.7% +3.
Slide 10: Brasilprev
Brasilprev Contributions (R$bn) Net inflow (R$bn) Reserves (R$bn) YoY: +2% 11.3% YoY: +12% +8% 10.8% 10.1% 9.4% 29 +142% 27 392 406 410 5 366 379 12 12 2 0.3 -0.3 2Q23 2Q24 1H23 1H24 2Q23 2Q24 1H23 1H24 Jun/23 Sep/23 Dec/23 Mar/24 Jun/24 Net inflow Redemption ratio 1 –Source: Quantum Axis Mgmt. Fee
Slide 11: Brasilcap
Brasilcap Collections (R$mm) Reserves (R$mm) YoY: -9% +3% YoY: +5% 3,068 3,154 11,336 11,152 11,165 10,667 11,092 1,639 1,490 2Q23 2Q24 1H23 1H24 Jun/23 Sep/23 Dec/23 Mar/24 Jun/24 Draws paid (R$mm) Net investment income Net income (R$mm) 4.2 4.0 3.7 3.9 YoY: +11% +12% YoY: -15% -20% YoY: +5% 141 36
Slide 12: BB Corretora
BB Corretora Brokerage revenue (R$mm) Brokerage revenue breakdown Other Other YoY: +12% +12% Pension Premium 0.3% Pension Premium 0.4% plans bonds plans bonds 2,681 11.6% 9.3% 12.4% 9.2% 2,400 1,193 1,335 1H23 1H24 Insurance Insurance 2Q23 2Q24 1H23 1H24 78.8% 78.0% Net margin (%) Net income (R$mm)
Slide 13: Guidance
g _< Guidance ZA. ALSALS D1.
Slide 14: Guidance 2024
Guidance 2024 Non-interest operating result (ex- 8.8% holding)¹ 5% 10% Observed 1H24 5.0% Premiums written of Brasilseg 8% 13% Observed 1H24 PGBL and VGBL pension plans 13.0% reserves of Brasilprev 8% 12% Observed 1H24 1 – Sum of the adjusted non-interest operating results before income taxes of Bra
Slide 15: Thank you!
Thank you! Contacts Investor Relations Rua Alexandre Dumas, 1671 – Térreo – Ala B Chácara Santo Antônio – São Paulo - SP CEP: 04717-903 Telefone: (11) 4297-0730 ri@bbseg.com.br bbseguridaderi.com.br/en
Slide 16: Appendix
oe BB —— Appendix IS D1.
Slide 17: Provisions and PCC impacts
R$ million Dec/23 Jan/24 Mar/24 Jun/24 Provisions PMBAC balance - Traditional 10,485 - 10,124 9,192 4.1 LAT deficit (surplus) (116) - 61 3.2 56 5.2 5.3 PMBC balance - Traditional and P/VGBL 6,544 - 6,752 7,047 LAT deficit (surplus) 651 1 - 682 3.1 3.2 483 5.1 5.3 1 Goodwill of assets classified as h
BB Seguridade Participações — Q2 2024 Earnings Presentation on 6ix