2023-08-15 12:16:25
IRB (IRBR3) posted a net profit of R$20.1 million in 2Q23 and, as a result, ended up reversing the loss of R$373.3 million in the second quarter of 2022.
According to the balance sheet, in the year, it obtained a net profit of R$ 28.7 million, an increase of R$ 321.6 million compared to the first half of 2022.
It also shows that the subscription result for the quarter was positive by R$ 35.4 million, registering an increase of R$ 696 million compared to 2Q22.
And he adds that in 2Q23 the underwriting result in Brazil was positive, going from a negative R$536 million, in 2Q22, to a positive R$18.1 million.
In addition, the same happened abroad: from R$ 125.3 million negative, in 2Q22, to R$ 17.3 million positive.
In this way, the accumulated underwriting result in the first half of the year is BRL 39.1 million, compared to the negative BRL 757.4 million verified in the first six months of 2022.
IRB (IRBR3): 2T23
Also according to the balance sheet, the total premium written fell 17.3% in the quarter, reaching R$ 1.39 billion.
The share of deals signed in Brazil increased, reaching 71% of the portfolio.
In terms of volume, there was a decrease of 13.8% compared to 2Q22, to R$ 994.3 million. The premium written abroad, which represented 29% of the portfolio, totaled R$ 400 million in 2Q23, which represented a decrease of 24.7% compared to 1Q22.
According to the report, in the quarter the total retained claim fell 54.8%, compared to 2Q22, closing at R$ 751.5 million. The loss ratio went from 124.2% to 73.6%, a decrease of 51.6 percentage points (pp), already demonstrating the effects of portfolio cleaning. In the accumulated result for the year, the loss ratio is 75.6%.
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