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Financials

Brazil’s BB Seguridade posts 21% rise in Q3 adjusted net income

SAO PAULO, Nov 4 (Reuters) - Brazilian insurance company BB Seguridade SA posted on Monday a 21.3% rise in third quarter adjusted net income from the same period a year earlier, mainly on higher insurance sales.

Recurring net income, which excludes one-off items, came in at 1.08 billion reais ($270.80 million). Including the proceeds of the sale of BB Seguridade stake in re-insurer IRB Brasil RE, net income was at 3.4 billion reais. ($1 = 3.9882 reais) (Reporting by Carolina Mandl, editing by Louise Heavens)

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