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International

IRB-Brasil Re's 2014 profits leap 72% to $226 million

February 26, 2015 Reprints

IRB Brasil Resseguros S.A.'s net profit for 2014 surged 72.5% year on year to 601.5 million Brazilian reals ($226 million), Segs.com.br reported.

The Brazilian reinsurer's premium volume for the year totaled BRL 3.2 billion, up 19% year on year. IRB-Brasil Re had a market share of around 34% in 2014, reports Segs.com.br. The reinsurer also reported positive results for its asset management business, with the investment portfolio totaling around BRL 5.6 billion.

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IRB-Brasil Re's 2014 profits leap 72% to $226 million

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