Brazilian insurer’s profit rises more than 20%

Brazil-based insurer BB Seguridade Participacoes S.A.’s profit grew 20.7% to 1.2 billion Brazilian real ($362 million) in the third quarter, driven by strong operating results at segments including reinsurance and pensions, Reuters reported. Adjusted net income totaled BRL 1 billion. Total volume of insurance premiums, penssion contributions and other financial products grew 3% year over year to nearly BRL 16 billion.
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