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International

Q2 results of some Brazilian insurers affected by recession

August 08, 2016 Reprints

Some Brazilian insurers have posted a fall in their earnings in the second quarter of 2016 owing to recession in the nation, BNamericas reported.

The insurance unit of Itau Unibanco Holding S.A. reported a 3.1% decline in its second-quarter net income to 2.1 billion Brazilian reals ($657 million).

Net income of Porto Seguro S.A. and Banco Bradesco S.A.'s insurance business also decreased 27% and 16% during the period, respectively.

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Q2 results of some Brazilian insurers affected by recession

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