BB Seguridade Participações S.A. (BBSEY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

to our virtual conference call to present the results of the first quarter of 2025. This conference call is being recorded and has simultaneous translation into English. To listen to the audio in English, please press the interpretation button at the lower right-hand side of your Zoom screen. As usual, we are going to divide this event in two parts. In the first part, our CEO, Andre Howie, and our CFO, Rafael Esperindio, are going to present the main deliveries of the first three months of the year. The presentation may be downloaded at our investor relations website at the address www.bbseguridadri.com.br. Then, in the second part, we are going to have a questions and answers session, when analysts and investors will be able to ask any additional questions. I'm going to give the orientation for you to participate after the presentation. Now I would like to give the floor to Andre, who's going to share with you the main results of the quarter. Andre, hello. Good afternoon, my dear friends. I would like to first start by thanking all the people who are following our virtual meeting about our performance in the first quarter of 2025. Our managerial profit, which does not consider IFRS 17 standards, reached the mark of 2 billion BRL, an increase of 8.3% compared to the same period last year. This performance was supported both by the growth in non-interest operating income, which was 4% higher in the period, and by the 38% expansion in the net investment income. Our retained earnings premiums, the insurance main revenue metric, totaled 3.6 billion BRL, a 7.1% growth in the first quarter. Our loss ratio had already closed the year at the lowest historical level, fell 0.3 percentage points, closing the quarter 26.1%. In our accumulation business, pension reserves expanded...