Caixa Seguridade profits BRL 1.9 billion in 2021, up 7.16%
Caixa Seguridade recorded a net income of R$ 545.7 million in the fourth quarter of last year, with growth of 20.4% compared to the same period in 2020. According to the company’s release, this is the best quarterly result for company history.
In the accumulated of 2021, net income rose 7.2% compared to the previous period to R$ 1.896 billion. Total insurance, pension, capitalization and consortium revenues increased by 19.3% compared to 2020 and reached R$ 45.2 billion last year.
According to the holding, “the performance in 2021 was influenced by the increase in distribution revenues, which include brokerage commissions or intermediation of insurance products, which reached R$ 1.123 billion in the year”. The result of investments in equity interests also contributed to the improvement in performance, which ended 2021 with an increase of 4.5% compared to 2020.
The fourth quarter also marked, according to Caixa Seguridade, the best quarterly result in history for the company’s open private pension segment, with a collection of R$9.2 billion. In 2021, revenues from accumulation plans reached BRL 32.1 billion, an increase of 28.5% compared to 2020.
Insurance premiums, in turn, rose 1.7% year-on-year, totaling R$7.5 billion last year. The holding company highlighted the 28.3% annual growth in the residential sector, a 6.5% increase in housing, which also recorded the company’s best quarter, and the 5.6% growth in the life segment.
The credit life segment, on the other hand, had an annual decline of 14.9% in written premiums. According to Caixa Seguridade, the result reflects the end of leveraging the credit offer of the National Support Program for Micro and Small Businesses (Pronampe) that was focused on 2020.
The financial result also showed a decline last year. The line fell by 48.03% in 2021 compared to 2020, to R$10.572 million.