BB Seguridade management commentary links 3Q26 recurring managerial net income decline of 5.1% to weaker Brasilseg, BB Corretora results

• BB Seguridade management commentary attributed third-quarter 2026 recurring managerial net income's 5.1% decline to weaker Brasilseg and BB Corretora results.
• Recurring managerial net income reached R$ 2.43 billion, with higher holding-company investment income partially offsetting weaker investee earnings.
• Brasilseg faced lower earned premiums, a higher combined ratio and weaker investment income; BB Corretora suffered declining brokerage revenues.
• Nine-month recurring managerial net income remained virtually stable at R$ 6.8 billion, supported by higher holding-company investment income.
• Management cut Brasilseg's annual premiums-written guidance to a decline of 11%-15%, reflecting weakness in rural, credit life and term life insurance.

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