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IRB(Re) Q2 2026 profit rises 29% as underwriting result improves
The reinsurer posted net income of R$185 million in Q2 2026, up from R$144 million a year earlier, while retained premiums fell 5% to R$783 million.
Brazilian reinsurer IRB(Re) reported stronger profitability in Q2 2026, driven by improved underwriting results even as premium volumes contracted. The company said net income reached R$185 million in the quarter, up 29% from R$144 million in Q2 2025, and total net income rose 10% year-on-year to R$157 million after considering the impact of tax reforms, according to Reinsurance News.
IRB(Re)’s underwriting result improved by 9% to R$250 million in Q2 2026 from R$229 million in Q2 2025. That gain came despite a top-line decline, with total retained premiums down 5% to R$783 million, and property and casualty (P&C) retained premiums down 4% to R$770 million.
In P&C, the underwriting result jumped 41% to R$305 million in Q2 2026 from R$216 million a year earlier, and P&C net income rose 58% to R$220 million. The company also reported that, on an LTM basis through Q2 2026, P&C retained premiums decreased 2% to R$3,327 million while the P&C underwriting result increased 26% to R$874 million.
IRB(Re)’s life business remained under pressure, with retained premiums falling 55% to R$13 million in Q2 2026 from R$28 million in Q2 2025. The life underwriting result shifted to a loss of R$54 million, and life net income fell to a loss of R$34 million, while LTM life retained premiums contracted 72% to R$93 million, according to the outlet.