IRB Brasil Re's half-year results impacted by the drought

IRB Brasil Re has posted a net loss of 292.9 million BRL (55.9 million USD) and a technical loss of 757.4 million BRL (144.523 million USD) in H1 2022.

The turnover has gone from 4.09 billion BRL (828.37 million USD) during the first six months of 2021 to 3.7 billion BRL (706.01 million USD) as at 30 June 2022, decreasing by 9.5% over a year.

The Brazilian reinsurer's results have been negatively impacted by the severe drought episodes that have affected important crop productions in the southern regions of the country.

This climatic event has also touched the French reinsurer SCOR, which has posted a half-yearly technical loss of 193 million EUR (202.438 million USD).