Brazil's BB Seguridade says company reached peak of sales in July

SAO PAULO, Aug 3 (Reuters) - Brazilian insurance company BB Seguridade SA likely reached its monthly sales record in July in products such as pension plans and credit life insurance, as the company slowly recovers from the coronavirus crisis, Chief Executive Bernardo Rothe said in an interview.

“The company has seen some sales recovery since April, and July is poised to be the best sales month for many of our products,” Rothe said.

Earlier on Monday, BB Seguridade posted a second-quarter recurring net income of 982 million reais ($184.27 million), down 9% from a year earlier, as pension plan premiums and gains from investments declined while claims went up. This trend offset lower operating expenses.

Rothe said he sees the company’s performance picking up by year-end, while gains from investment should continue a downward trend, as Brazil’s benchmark rates are at an all-time low level. ($1 = 5.3292 reais) (Reporting by Aluisio Alves; writing by Carolina Mandl; editing by Jonathan Oatis)