O IRB (IRBR3) had loss of R$12.2 million in the first four months of 2022, compared to net income of R$1.9 million in the same period of the previous year, the company said on Tuesday (21).
According to the company, the net result for April 2022 was negative by BRL 92.7 million, compared to a loss of BRL 48.9 million in April 2021.
Details and explanations of the company’s results will be presented when the accounting statementsscheduled for August 15, the IRB said.
The results are released at a time when IRBR3 accumulates low of more than 50% in 12 months and of almost 30% this year.
Award issued by the IRB
The premium issued by the IRB totaled BRL 552.8 million in April 2022, a decrease of 29.7% compared to April 2021, composed of the decrease in the premium in Brazil of 7.2%, to R$ 338.5 million, and by the reduction of the premium abroad of 49.1%, to R$ $214.4 million.
In the first four months of 2022, the premium issued reached the amount of R$2.557 billion, down 5.8% compared to the same period in 2021, according to the company.
In Brazil, according to the IRB, there was a growth of 12.0%, reaching R$ 1.57 billion, while abroad there was a reduction of 25.1% compared to the same period in 2021, with R$ 979.0 million.
“The reduction abroad is in line with the strategy of focusing on the domestic market, widely publicized by the company”, commented the company.
The IRB reported that the loss expense in April 2022 was R$478.0 million, with a loss ratio of 103.1%, mainly impacted by the Agro segment.
Thus, it was equivalent to the expense of April 2021, of R$ 479.0 million, which then represented a loss ratio of 84.3%.
At the first quarter As of 2022, claims expenses totaled R$1.41 billion, a decrease of 7.7% when compared to the same period of the previous year.
In the first four months of the year, the IRB claims ratio was 87.4%, compared to 75.6% in the first four months of 2021.
“The normalized loss ratio of adverse weather effects to the Agro segment in Brazil and Covid was 70.8% in the first four months of 2022”, said the company.
See the document released by the company
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