February 6, 2018 / 2:30 PM / in 4 months

Brazil's BB Seguridade misses Q4 profit forecasts

SAO PAULO, Feb 19 (Reuters) - Brazilian insurance holding company BB Seguridade missed fourth-quarter profit estimates as lower interest rates and a fall in premiums written dragged on its results.

BB Seguridade reported recurring net income of 941 million reais ($291.24 million), compared with 1.074 billion reais a year earlier. Analysts expected a recurring profit of 1.020 billion reais for the quarter.

The insurance company said it expects a variation in recurring net income of -2 percent to 2 percent in 2018, compared with a contraction of 4.8 percent last year. ($1 = 3.2310 reais) (Reporting by Carolina Mandl, editing by Louise Heavens)

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