August 7, 2019 / 12:49 PM / 2 months ago

Brazil insurer BB Seguridade's profits could hit upper end of 2019 forecast - CEO

SAO PAULO, Aug 7 (Reuters) - Brazilian insurance holding company BB Seguridade Participacoes SA’s profits this year could hit the upper end of the firm’s forecast, Chief Executive Bernardo Rothe said on Wednesday.

Late on Tuesday, BB Seguridade revised its 2019 profit guidance upward, after posting a second quarter profit that beat analyst expectations.

The firm said the company now expects 2019 profit to grow between 8% and 13% from a year earlier, above the previous guidance of a 5% to 10% increase.

Speaking with journalists, Rothe said the previous guidance had been conservative.

“I think we can stay in the high part of the (revised) guidance,” he said.

Reporting by Aluisio Alves Writing by Gram Slattery; Editing by Bernadette Baum

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