According to company president Marcos Falcan, the resumption of IRB(Re) dividends is certain. “We will pay out 25% of this year’s profits within the provisions of our articles of association, but after reducing debt, we could pay more depending on the board’s decision,” he said in an interview. value.
He said it is still unclear when this dividend will be announced and paid due to tax changes currently being discussed in the country.
The company last distributed profits to shareholders in 2021. Executive Falcao took the helm of the reinsurer at the end of 2022 after IRB (Re) faced a serious image crisis and accusations of accounting fraud that affected its financial results.
In the third quarter of this year, the company had zero cumulative losses and cumulative profits amounted to R$61 million. “Whereas before we were talking about solving the problems of the past, we are now talking about leveraging our healthy level of capital to generate more profits,” he said.
The company’s net profit for the period was 98.7 million reais, 15% lower than the same period in 2024, benefiting from the sale of land in Rio.
“We’re in the business of dealing with a lot of claims, and it ends up impacting one quarter or another. There’s always this variation due to seasonality,” the executive explained.
However, looking at the past 12 months, he said there remains a positive trend in IRB(Re) results. “The trend is positive, so we’re calm. It’s not that the company’s trends are bad.”
Regarding growth levers, the reinsurer maintains its expectations for growth in the life insurance sector, which is undergoing a portfolio cleanup process towards 2025, and progress in Latin America.
IRB(Re) has announced the appointment of Ricardo Sichieri, an expert with 13 years of experience in the international life and health market.
Daniel Castillo, vice president of reinsurance at IRB(Re), said Siquieri will help develop new products for the Brazilian and Latin markets. “We are very excited about growing life and health,” he noted.
Castillo said the reinsurer’s most targeted Latin American markets are Colombia, Peru, Mexico and Argentina because of their proximity. “But there we have avoided the ‘long tail’ where claims take a long time to occur.”
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