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    IRB (IRBR3) expands losses by 80% and has a loss of BRL 373 million

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    The total premiums issued by IRB in 2Q22 was BRL 1.68 billion (Image: Money Times/Renan Dantas)

    THE IRB Brazil (IRBR3) reported a net loss of R$ 373.3 million in the second quarter of this year, according to a material fact disclosed in the early hours of Tuesday (16).

    The value increases by 80% the loss reported in the same period last year, when the company had losses of R$ 206.9 million.

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    The result came better than expected by analysts at the Inter Researchwhat expected a smaller loss of R$ 37 million, in the period.

    According to IRBthe increase in the loss was mainly due to the impact of the loss ratio of the segments of the agribusinessimpacted by climatic effects.

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    The total premiums issued by the IRB in 2Q22 it was R$ 1.68 billion, a decrease of 22% in the annual comparison. In 2Q21, the reinsurer recorded R$2.16 billion in premiums written.

    Last Monday (15), the company confirmed that it is studying the possibility of carrying out a fundraising operationwhich would consist of a subsequent public offering of primary distribution of shares (“follow-on”).

    The actions of IRB melted more than 10% in the last trading sessionafter the announcement.

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    Source: Moneytimes

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