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Financials

Brazil's BB Seguridade reports 35% rise in Q4 adjusted net income

SAO PAULO, Feb 10 (Reuters) - Brazilian insurance company BB Seguridade SA reported on Monday an almost 35% jump in its fourth-quarter adjusted net income compared with the same period a year ago, with stronger financial results helping the company exceed forecasts for 2019.

In a securities filing, BB Seguridade said its quarterly recurring net profit, which excludes one-off items such as proceeds from the sale of its stake in reinsurer IRB Brasil RE, came at 1.133 billion reais ($262.24 million).

For 2020, the company added it expects a growth between 7% to 13% in operating result before taxes of its investees (ex-holdings). ($1 = 4.3205 reais) (Reporting by Gabriela Mello, editing by Louise Heavens)

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