Material Fact - Guidance revision
Pursuant to § 4 of Article 157 of Law 6,404, dated December 15, 1976 and according to CVM (Brazilian Securities and Exchange Commission) Rule Nr. 358, dated January 3, 2002, BB Seguridade Participações S.A. (“BB Seguridade”) hereby informs that has revised its guidance for 2021, as follows:
The “Non-interest operating result (ex-holding)” underperformed the projection range due to the worsening of the Covid-19 pandemic throughout the first half of 2021, which led to higher than expected increase in the number of claims in insurances with death coverage, an effect that should not be fully offset in the second half, although the expectation is of reduction in the number of deaths in the country and, consequently of claims, due to immunization of the adult population.
On the other hand, the “Premiums written of Brasilseg” outperformed the estimates, explained by better-than-expected premiums of rural and term life insurances, even in a still challenging business environment, with several restrictions for people circulation being carried out during the first half. Considering the expectation of an improvement in the second half of the year, based on the evolution of vaccination and acceleration of economic activity resumption, the initial guidance range ceased to make sense and the company upward reviewed the projections.
For further information, please refer to section 11 of BB Seguridade´s Reference Form, available at www.bbseguridaderi.com.br/en.
Brasilia, August 2, 2021