IRB Brasil Resseguros S A : 1Q22 Results Presentation

Institutional Presentation

1Q22

IRB: For 80+ Years Reinsuring Relevant Projects

Unmatched 80+ years experience coupled with superior insurance and reinsurance know-how

1st phase

Monopoly (1939 - 2007)

• 1930's: start operations
• The only reinsurer in

Brazil

for 69 years

• 2007: end of reinsurance monopoly and as regulator

1939-2007

Note: (1) Considers treasury shares.

2nd phase

Post-monopoly (2007 - 2019)

Since the end of the monopoly, IRB has reinvented itself and reassumed its leadership position in Brazil

				→ 2 follow-ons
				→ Feb/2019: FGEDUC
				→ Jul/2019: BB and
				Federal Government
				→ End of controlling
				shareholding
				structure
→ Privatization
→ IRB's IPO		2019
and new
controlling	(Jul/2017)
group
	2017
(Oct/2013)

2013

3rd phase

New IRB

• Enhanced corporate governance with new management team
• • Segregation of functions
  • Restructuring of the Board, Committees and Executive Board
• IRB Transformation Program - PULSE
• Sustainable growth

2020-2022+

Full corporation status

100% Free Float1

Relevant investors of the Free

Float:

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Management Structure

General Shareholders' Meeting

								Audit
Fiscal Board	Board of Directors
			Committee
								Internal
			CEO		Audit

Chief Underwriting	Chief Financial &
Officer - P&C and
	IR Officer
	Specialties
	Specialties		Investor Relations
	P&C		Finance
	P&C International		¹Asset Management
	and O&G			(Subsidiary)
	ESBAS - Buenos		Strategic Planning

Chief Operations &	General Counsel & Risk,
Actuarial Officer		Compliance Officer

Information	2Institutional
Technology	Relations VP
Claims	Legal
Technical	Risk Management
Actuarial

Clients, Innovation	Life and Health	Human Resources
and Marketing

Aires's office		and M&A
Retrocession

Notes: (1) Double report to Investments Committee / (2) Double report to CEO

Statutory Executive Officers Non-Statutory Officers

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Enhanced Corporate Governance Standards

Board of

Directors'

Advisory

Committees

Chair

All Chairs are Board of Directors members

Support to the Board of Directors provided by advisory

committees, each composed of up to 5 members

Audit	People
Management	Funding,
(Statutory	and	Investments
Committee)	Appointment	& Dividends
Ethics,	Risk		Underwriting
	Policies &
Sustainability	Management
	Big Claims
and Governance	and Solvency
	Oversight
Henrique José	Hugo Daniel	Marcos Pessoa
Fernandes Luz	Castillo Irigoyen	Q. Falcão
Ellen Gracie	Antonio Francisco	Ivan Gonçalves
Northfleet	Lima Neto		Passos

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Improved results in a challenging quarter

Impacts of Climate Effects and Covid-19

Net Income for the Period (R$ million)

1Q22

Greater share of written premium in Brazil

51

81

+58%

		+8 p.p
44%	54%	62%

1Q211Q22

• Premium growth of 4%, with highlight for the 19% increase in Brazil
• Renewals of 86% of target contracts in the period
• Amplified Combined Ratio of 97%, and normalized of 83%(*)
• Loss ratio impacted by 13 p.p. due to climatic effects and Covid
• Robust financial result, including non-recurring of R$150 million
• Regulatory indices within the legal framework

56%	46%	38%
1Q20		1Q21		1Q22
		International		Brazil

(*) Normalized: excluding the effects of LPT, Covid, atypical events in Rural. Management number, for pro forma purposes only

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