02/05/2024 – 19:48
Itaú Unibanco's insurance, pension and capitalization operations had a result of R$2.281 billion in the fourth quarter of last year, an increase of 11.2% in one year. In the quarterly comparison, there was growth of 4.1%, states the bank.
According to Itaú, the biggest result is the result of the growth in premiums earned, net capitalization revenues and also the managerial financial margin. In 2023, the bank had a profit of R$8.572 billion from insurance, an increase of 14.5% compared to 2022.
Insurance premiums earned totaled R$1.659 billion, an increase of 8.5% in one year, and 2.5% in one quarter. On an annual basis, the bank states that the volume sold was higher.
In total, the bank's insurance, pension and capitalization revenues were R$2.654 billion, growth of 7.6% in one year, and an increase of 3.3% in one quarter.
Retained claims, in turn, reached R$370 million. The number is 10.2% lower than the same period last year.
The majority of Itaú's insurance premiums come from life and personal accident products, which accounted for 44.3% of the total collected in the fourth quarter. Credit life insurance, however, gained ground, reaching 17.4% of the total, compared to 16.6% a year earlier.
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