BTG: July insurance data signal improved results for BB Seguridade, Caixa Seguridade

BTG Pactual analysts see July sectoral data as indicating improved results for BB Seguridade and Caixa Seguridade, driven by pension and brokerage revenue recovery for BB and pensions and capitalization for Caixa. Porto Group's July net profit fell 43% month-over-month and 7% year-over-year due to higher claims and weaker financial results, though analysts noted the data was otherwise supportive. The report is based on Susep data and analyst interpretation, not company guidance.