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.
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.
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
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
