IRB Brasil Re

IRB(Re) reports improved underwriting results in best performance since 2019

Brazilian reinsurer IRB(Re)’s combined ratio improved by 14.4 points in Q4 2023 to 103.9 percent and by 28.1 points to 108.6 percent for the full year, in what the firm described as its best annual underwriting result since 2019 and evidence of its “consistent recovery”.

IRB Brasil Re Q3 combined ratio sees 44.7% YoY improvement

IRB Brasil Re has reported a 114.4 percent combined ratio for the third quarter of 2023, a 44.7 percentage point improvement on the prior-year period.

IRB Brasil Re names Botti as CFO

IRB Brasil Re’s board of directors has appointed Rodrigo Souza Lobo Botti as CFO.

IRB Brasil Re posts 46 point improvement in Q2 combined ratio

IRB Brasil Re has posted an underwriting profit of R$35.4mn ($7.13mn) for the second quarter of 2023, while its combined ratio improved by 46 percentage points year on year.

IRB names former politician Quintella Malta Lessa as chairman

There have been further management changes at IRB Brasil Re with former politician Mauricio Quintella Malta Lessa appointed chairman, succeeding Antônio Cássio dos Santos in the role.

IRB had “inability” to pay shareholders more than $5mn over CFO’s false Berkshire claims

IRB Brasil Re would have been unable to pay more than $5mn to resolve a probe into a false story that it had received investment from Berkshire Hathaway without threatening “the continued viability” of its business, according to a recently filed agreement with US lawmakers.

IRB Brasil Re posts first underwriting profit in seven quarters

IRB Brasil Re has posted a slim underwriting profit of R$3.7mn for Q1 2023, its first in seven quarters, as its combined ratio improved 7.7 percentage points as part of the reinsurer’s performance improvement drive.

IRB settles SEC charges related to claims about Berkshire

IRB Brasil Re has agreed to a civil injunction to settle Securities and Exchange Commission (SEC) charges that relates to the untrue information that Berkshire Hathaway was an IRB shareholder, with the settlement following a $5mn agreement with the US Justice Department (DoJ) last month.

IRB agrees to pay $5mn to ex-shareholders over Berkshire Hathaway securities fraud scheme

IRB Brasil Re has entered into a non-prosecution agreement (NPA) with the US Justice Department (DoJ) and agreed to pay $5mn to former shareholders after it admitted securities fraud regarding false claims in 2020 that Berkshire Hathaway had invested in the business in an attempt to bolster its stock price.

IRB Brasil Re reports Q4 CR of 118.3% as UW loss narrows to R$152.8mn

IRB Brasil Re generated a combined ratio of 118.3 percent for the fourth quarter of 2022, a 55.6 percentage point improvement on the prior-year period.

IRB names ex-Gen Re exec Castillo new CUO

IRB Brasil Re has turned to current board member and former Gen Re executive Daniel Castillo to fill its vacant chief underwriting officer (CUO) role on a permanent basis.

Brazilian Stock Exchange queries IRB on share price swings

IRB Brasil Re has responded to an enquiry from the São Paulo Stock Exchange over recent fluctuations in its share price and told the BOVESPA that it has not withheld any price sensitive information from the market.

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