Brazil
News

Porto Seguro's Q4 fails to match full-year profit increase

Bnamericas Published: Thursday, February 04, 2016
Porto Seguro's Q4 fails to match full-year profit increase

Brazilian insurer Porto Seguro saw its 4Q15 financial results grow in the single digits while it enjoyed a double-digit profit increase in the full year.

Net income for the quarter was 294mn reais (US$75.6mn), up 6% year-on-year.

The annual 2015 net income saw an increase of 14% to 1.01bn reais.

ROAE in the quarter was 20.8%, down 0.6 percentage points. For the full year, it reached 18.6%, up 1.4pp.

Total revenues also saw growth in both the quarter and the year. For Q4, revenues went up 5% to 4.50bn reais. In 2015, there was an 8% increase to 16.6bn reais.

In terms of written premiums, fourth quarter results were up 3% and full-year results increased 7%, mostly driven by a boost in insured items in the auto and homeowner segments. Insured fleets increased by 200,000 items, exceeding 5.2mn cars (up 4%) and insured residences reached 2.4mn (up 8%).

UPCOMING BNAMERICAS EVENTS

4TH Mexico Electric Power Summit

Click here to see the agenda and speakers

5TH Mexico Infrastructure Summit

Click here to see the agenda and speakers

4TH Mexico Oil&Gas Summit

Click here to see the agenda and speakers

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects

Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.

  • Project: FPSO P-85
  • Current stage: Blurred
  • Updated: 11 hours ago

Other companies in: Political Risk & Macro

Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.

  • Company: Gobierno de la República de Surinam
  • The Government of the Republic of Suriname is the public administration established under its Constitution in 1987. It is composed of the President's office, integrated by the P...