Brazil-based insurer BB Seguridade Participacoes SA’s net profit jumped almost 87% year-on-year to 1.4 billion Brazilian reais ($271 million) in the second quarter of the year, driven by strong growth in new business and net investment income, Suno reported. For the first half of the year, the insurer’s profit increased almost 50% year-on-year to BRL2.6 billion despite record levels of agricultural insurance claims due to the La Nina weather phenomenon.
