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Brazil's BB Seguridade beats estimates as brokerage revenue rises
May 8, 2017 / 10:51 AM / in 5 months

Brazil's BB Seguridade beats estimates as brokerage revenue rises

SAO PAULO, May 8 (Reuters) - Brazil’s BB Seguridade Participações SA, the insurance unit of state-controlled Banco do Brasil SA, beat first-quarter profit estimates on Monday after robust revenue from retirement plans and insurance brokerage transactions offset the impact of declining interest rates.

Brasilia-based BB Seguridade earned 992.8 million reais ($313 million) in net income last quarter, compared with a consensus estimate of 959.260 million reais. The company, which disclosed the information in a securities filing, neither provided data for recurring net income nor return on equity.

$1 = 3.1744 reais Reporting by Guillermo Parra-Bernal Editing by W Simon

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