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BB Seguridade Participações S.A. | Investor Relations 2
Track Record
1. Pending approval by regulators, supervisors and inspectors.
1981
Creation of BB’s insurance operations
1992
Creation of Brasilprev
1995
Brasilcap’s inception in partnership with SulAmérica, Icatu and Aliança da Bahia
1996
Creation of Brasilveículos in partnership with SulAmérica
1999
Partnership with Principal Financial Group in Private Pension Plans
2011
Established Joint Venture with Mapfre
2008-2011
Ownership restructuring of BB’s insurance, Pension Plans and Premium Bonds division
2012
Creation of
BB
Seguridade
1987
BB Corretora’s establishment
2013
IPO BB Seguridade
Equity investment in IRB –Brasil RE
Brasildental¹
Partnership with Odontoprev
BB Seguridade Participações S.A. | Investor Relations 3
BB Corretora
Brasilcap
100% Total
BB Seguros BB Cor
BB Mapfre SH1
Mapfre BB SH2
Brasilprev
Free Float (Post IPO)
74.9% BB Seguridade Economic Stake (%)
49.9%
50%
100% Total
50.0%
49.0%
50%
74.9%
49.9%
50%
66.7%
49.9%
67%
100%
100% BB Seguridade Volting Stake (%)
Board of Directors Representation (%)
66.25% 33.75%
Estrutura Acionária - Parcerias
Position until 09/30/2013
IRB –Brasil Re
Brasil dental¹
20.5%
20.5%
20%
74.9%
49.9%
50%
¹Awaiting approval by regulators, supervisors and inspectors
Ownership Structure
BB Seguridade Participações S.A. | Investor Relations 4
Acionária - Parcerias Organizational Struture
CEO Marcelo Augusto Dutra Labuto
CFO Leonardo Giuberti Mattedi
Commercialization Directorship
André Luis Cortes Mussili
Products and Operation Directorship
Ângela Beatriz de Assis
Executive Board
Board of Directors
Shareholders General Meeting
Fiscal Council
Audit Committee
BB Seguridade Participações S.A. | Investor Relations 5
FREE-FLOAT BREAKDOWN – SEP/13
Shareholders Structure
Banco do Brasil66.3%
Free-float33.8%
TRADING SHARES - SEP/13
Foreign 60.2%
Institutional33.3%
Individuals6.5%
BB Seguridade Participações S.A. | Investor Relations 6
Corporate Governance
• Only common shares
• 100% tag along
• 80% payout Stocks
• Six members
• The President of the Company
• One independent member appointed by the minority shareholders
• Two members appointed by Banco do Brasil from its Executive Board
• One member appointed by the Ministry of Planning, Budget and Management and the other by the Ministry of Finance
Board of directors
• Four members
• Elected among the active employees of Banco do Brasil
Board of executive officers
• Three members
• One is the independent member appointed by the minority shareholders
• The independent member has veto power
Related-party committee
BB Seguridade Participações S.A. | Investor Relations 7
Presidents, Vice Presidents and Directors
Corporate Governance – Affiliates
Board of Directors
SH1 Life
SH2 P&C
Brasilprev Pension Plans
Brasilcap Premium
Bonds
16 members
8 appointments
8 appointments
Companhia de Seguros
Aliança do Brasil
6 appointments
6 appointments
Mapfre Vida S.A
6 appointments
6 appointments
Vida Seguradora S.A
6 appointments
6 appointments
16 members
8 appointments
8 appointments
Aliança do Brasil
Seguros S.A
6 appointments
6 appointments
BB Mapfre Assistência
2 Appointments
2 appointments
Brasilveículos
6 appointments
6 appointments
16 members
8 appointments
8 appointments
3 appointments
3 appointments
12 members
8 appointments
2 appointments
2 appointments
4 appointments
Mapfre Affinity
Seguradora S.A
6 appointments
6 appointments
Mapfre Seguros Gerais
S.A
6 appointments
6 appointments
Broker
3 members
3 appointments
10 members
2 appointments
IRB-RE
Resseguro
BB Seguridade Participações S.A. | Investor Relations 8
Scope of the Related-party Committee
Captive access to Banco do Brasil’s network
20-year term
No termination clause
Signed on January 2013
Arm’s length
Brasilprev SH1 SH2 Brasilcap
Products sold through BB Corretora
Remuneration: fixed percentage of policies, varying according to product type
Shareholders agreement: 23-year term for PFG, 20-year term for Mapfre and without a defined term for Icatu / Aliança da Bahia
Related-party
Any proposal for changes in the agreements must be examined by the Related-party Committee and the independent member has a veto power
BB Seguridade Participações S.A. | Investor Relations 9
Bancassurance
BB Seguridade focus its strategy in bancassurance with own brokerage, benefiting from exclusive access to the Banco do Brasil’s distribution network
Low complexity business model
Low capital need
No underwriting risk
Own Brokerage
Competitive Advantage
Distribution Network
Non-bancassurance
148 Partnerships
20,198 External Brokers
61 Million of clients
5,416 Branches
60,387 ATMs
17,378 Banking Correspondents
28,643 Shared net
1º
Captive access to the largest distribution network of Brazil
BB Seguridade Participações S.A. | Investor Relations 10
One of the Largest Insurance, Pension Plan and Premium Bonds Company in Latin America
R$ 3.6 billion in premiums written, R$ 3.7 billion in pension contributions and R$ 1.4 billion in premium bonds in 3Q13
Largest Insurance Broker in Latin America
Exclusive access to Banco do Brasil’s unique distribution network, with brokerage revenues of R$ 425 million in 3Q13
Leading Presence in Other Segments, such as Premium Bonds, Life and Rural Insurance
Insurance Operations, Pension Plans and Premium Bonds managed through private partnerships with global leaders
Fast Growing with High Profitability
18.8% yoy premium and contribution growth with 38% ROAE in 3Q13
BB Seguridade at a Glance
2nd Largest P&C Insurance Company in Brazil
Over 2.4 million insured vehicles and R$ 5.8 billion in premiums written in 9M13
1261 employees at the holding and broker level. 6,8191 employees at the affiliates level
1. Data from Jun/2013
BB Seguridade Participações S.A. | Investor Relations 11
16.8%
11.9% 11.7%9.5%
6.7%
1,260
866
211
625
123 92
Revenues
Net Income
Leadership positions in all target segments
Source: SUSEP and Companies 1 Considering Life, Property, Rural, Auto and Casualty
Market Share (9M13)
LIFE INSURANCE – EARNED PREMIUMS PENSION PLANS - CONTRIBUTION
INSURANCE BROKERAGE (R$ MM)
1o
PREMIUM BONDS - COLLECTION
1º
INSURANCE – CONSOLIDATED1
1º
1º
Market Leadership
29.0%
21.8%
11.5%8.8%
6.4%
30.6%29.1%
23.0%
6.1%3.2%
19.5%
16.9%
13.0% 12.3%
5.0%
BB Seguridade Participações S.A. | Investor Relations 12
World Brokerage and Insurance Market
12
Insurance market presents low penetration level in Brazil
Insurance premiums1 / GDP (%, 2012)
Source: SUSEP e Swiss Re – Sigma 03/2013
1. Excluding abroad business
#42
Life Insurance Premium / GDP Non-Life Insurance Premium / GDP
#62
In Total Insurance
In Life Insurance
15.0
11.6
3.8
11.0
6.9
9.28.4 8.4
5.3 5.6
3.7 3.14.5 3.9
1.52.5 2.3
0.1 0.5 0.71.7
0.9
3.2
2.6
9.2
1.4
5.3
2.32.8
2.0
4.3 3.3
4.5
3.62.3
2.4
4.02.8
1.7
3.6 3.2 2.61.3
1.1
Tai
wan
Áfr
ica
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ul
Ho
land
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ong
Coré
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o Su
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Jap
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Rei
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Un
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Fin
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Suiç
a
Fran
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Esta
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Un
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s
Ale
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Itál
ia
Po
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Eslo
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ia
Esp
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Ch
ile
Ven
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Bra
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Arg
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Chin
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Méx
ico
BB Seguridade Participações S.A. | Investor Relations 13
Insurance in Brazil
Source: SES -SUSEP
INSURANCE PREMIUM EVOLUTION (MONTHLY - R$ BN) INSURANCE PREMIUM EVOLUTION (YEARLY - R$ BN)
Source: SES - Susep Source: SES - Susep
44.546.6
53.4
61.6
69.8
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
2008 2009 2010 2011 2012
4.0
5.0
6.0
7.0
8.0
Jan Fev Mar Abr Mar Jun Jul Ago Set Out Nov Dez
2011 2012 2013
BB Seguridade Participações S.A. | Investor Relations 14
114 116
70
84
6965 66
57
28
17 9 107
156
118112
108101
84
64 6255
40
15 147
Ho
lan
da
Suiç
a
Rei
no
Un
ido
EUA
Au
strá
lia
Cana
dá
Áfr
ica
do
Su
l
Jap
ão
Irla
nd
a
Ho
ng K
ong
Ale
man
ha
Bra
sil
Fran
ça
2002 2012E
Global macroeconomic scenario – Pension Plans
Pension market is growing in Brazil due to the life expectation increase
Pension Assets/GDP (%)
#12
Source: Towers Watson
In assets
BB Seguridade Participações S.A. | Investor Relations 15
Pension Plans in Brazil
REVENUES (MONTHLY - R$ BN) CONTRIBUTIONS (YEARLY - R$ BN)
Source: SES - Susep Source: SES - Susep
31.5
38.3
45.8
53.7
70.5
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
2008 2009 2010 2011 2012
2.5
3.5
4.5
5.5
6.5
7.5
8.5
9.5
Jan Fev Mar Abr Mar Jun Jul Ago Set Out Nov Dez
2011 2012 2013
BB Seguridade Participações S.A. | Investor Relations 16
7.71
8.198.44 8.63
8.798.49
9.039.39
9.6 9.74
9.87
10.6711.02 11.16 11.2010.23
11.0911.40
11.58 11.71
DI1F15 DI1F16 DI1F17 DI1F18 DI1F19
Brazilian Macro
EXCHANGE RATE (R$/USD)
INFLATION (%) BASE YIELD | SELIC (%)
FORWARD YIELD CURVE (%)
09/30/2013
06/28/2013
03/28/2013
12/28/2012
Source: Broadcast Source: Focus- Bacen do Brasil
1.661.86
2.052.25
2.40 2.40
2010 2011 2012 2013E 2014E 2015E
5.9%
6.5%
5.8% 5.9% 5.9%5.5%
2010 2011 2012 2013E 2014E 2015E
10.8% 11.0%
7.3%
10.0% 10.3% 10.6%
2010 2011 2012 2013E 2014E 2015E
BB Seguridade Participações S.A. | Investor Relations 17
431 472 455550 548
1,281
1,553
33.3%
36.9%34.7%
39.1% 38.0%
32.4%
35.8%
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13Adjusted net income ROAE
SH114.3%
SH221.2%
Brasilprev52.7%
Brasilcap11.8%
7,3569,865 10,168
11,4658,720
23,458
30,353
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
BB Seguridade Performance
TOTAL REVENUES (R$ MM) REVENUES BREAKDOWN
PROFITABILY EARNINGS BREAKDOWN
QoQ: - 24%
YoY: + 19%
QoQ: 0%
YoY: + 27%
9M12 9M13
+ 29%
9M12 9M13
SH114.8%
SH219.1%
Brasilprev51.5%
Brasilcap14.6%
SH127.8%
SH27.0%
Brasilprev20.9%
Brasilcap6.2%
BB Corretora37.6%
Others0.5%
SH128.8%
SH24.6%
Brasilprev20.5%
Brasilcap3.5%
BB Corretora41.4%
IRB0.8%
Others0.5%
BB Seguridade Participações S.A. | Investor Relations 18
926 957 1,055 1,173 1,249
2,701
3,477
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
258
364
146
610
272
651
1,028
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
+ 34%
1,184 1,321 1,201
1,7831,521
3,351
4,505
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
+ 29%
BB Mapfre – SH1
QoQ: - 15%
YoY: + 28%
QoQ: + 6%
YoY: + 35%
CHANGES IN TECHNICAL RESERVES (R$ MM)
BREAKDOWN OF PREMIUMS WRITTEN 9M12 vs 9M13 PREMIUMS WRITTEN (R$ MM)
EARNED PREMIUM (R$ MM)
QoQ: - 55%
YoY: + 5%
9M12 9M13
+ 58%
Life49.6%
Credit Life26.9%
Mortgage Life1.7%
Rural17.6% Other
4.3%
Life42.9%
Credit Life28.9%
Mortgage Life2.6% Rural
22.0%Other3.6%
BB Seguridade Participações S.A. | Investor Relations 19
17.9 18.516.8
14.716.6 16.2 16.0
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
- 0.2 p.p.
76.9 78.9 76.7 76.8 76.5 78.4 76.6
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
25.026.5
24.823.4 23.5
24.9 23.9
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
34.0 33.9 35.1
38.736.4 37.4 36.8
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
BB Mapfre – SH1
QoQ: - 0.3 p.p.
YoY: - 0.5 p.p.
QoQ: + 1.9 p.p.
YoY: - 1.3 p.p.
QoQ: - 2.3 p.p.
YoY: + 2.4 p.p.
QoQ: + 0.1 p.p.
YoY: - 1.5 p.p.
COMBINED RATIO (%) G&A RATIO (%)
CLAIMS (%) COMISSION RATIO (%)
- 0.6 p.p.
- 1.0 p.p.
- 1.7 p.p.
BB Seguridade Participações S.A. | Investor Relations 20
169.0 172.7 177.5 197.2 221.0
474.6595.8
22.6% 23.5% 23.4%
27.7%
33.1%
20.7%
26.0%
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
Adjusted Net Income ROAE
76.6 75.357.9 57.0
95.0
233.3209.9
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
BB Mapfre – SH1
QoQ: + 67%
YoY: + 24%
QoQ: + 12%
YoY: + 31%
NET INVESTMENT INCOME (R$ MM) PROFITABILITY (R$ MM)
- 10% + 26%
BREAKDOWN OF ASSETS UNDER MANAGEMENT1
Pre-Fixed7.3%
Interbank Deposit69.5%
Linked to inflation
8.8%
Others14.4%
Pre-Fixed9.4%
Interbank Deposit67.3%
Linked to inflation
8.3%
Others15.0%
SEP/12 SEP/13
1. Mark-to-market
BB Seguridade Participações S.A. | Investor Relations 21
1,600 1,641 1,722 1,806 1,938
4,668
5,466
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
243.2
40.4
113.6
21.8
184.4
300.0319.9
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
1,843 1,681 1,836 1,8282,122
4,968
5,786
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
Mapfre BB – SH2
QoQ: + 16%
YoY: + 15%
QoQ: + 7%
YoY: + 21%
CHANGES IN TECHNICAL RESERVES (R$ MM)
QoQ: + 746%
YoY: - 24%
BREAKDOWN OF PREMIUMS WRITTEN 9M12 vs 9M13 PREMIUMS WRITTEN (R$ MM)
EARNED PREMIUM (R$ MM)
9M12 9M13 + 16%
+ 7% + 17%
Vehicles54.3%
Casualties30.9%
Other14.8%
Vehicles57.0%
Casualties29.9%
Other13.1%
BB Seguridade Participações S.A. | Investor Relations 22
18.4 18.5 19.3 18.7 19.6 18.7 19.2
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
99.0 98.0 98.793.8
99.8 98.8 97.4
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
24.5 24.8 24.3
21.022.8
25.4
22.6
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
56.0 54.7 55.1 54.157.4
54.7 55.6
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
Mapfre BB – SH2
CLAIMS (%) COMISSION RATIO (%)
G&A RATIO (%)
QoQ: + 6.0 p.p.
YoY: + 0.8 p.p.
QoQ: + 3.3 p.p.
YoY: + 1.4 p.p.
COMBINED RATIO (%)
QoQ: + 0.9 p.p.
YoY: + 1.2 p.p.
QoQ: + 1.8 p.p.
YoY: - 1.8 p.p. + 0.9 p.p. - 2.7 p.p.
+ 0.5 p.p. - 1.4 p.p.
BB Seguridade Participações S.A. | Investor Relations 23
98.581.0
39.728.1
65.2
256.5
133.0
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
Mapfre BB – SH2
QoQ: + 132 %
YoY: - 34%
QoQ: - 51%
YoY: - 33 %
NET INVESTMENT INCOME (R$ MM) PROFITABILITY (R$ MM)
- 48% - 20%
BREAKDOWN OF ASSETS UNDER MANAGEMENT)
Pre-Fixed8.4%Interbank
Deposit50.4%
Linked to inflation
11.0%
Others30.3%
Pre-Fixed10.6%
Interbank Deposit42.1%
Linked to inflation
4.7%
Others42.5%
SEP/13 SEP/12
1. Mark-to-market
58,1 48,4 24,6
79,639,2
180,0143,4
9,7%8,0%
4,0%
13,2%
6,2% 6,0%7,6%
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
Adjusted Net Income ROAE
BB Seguridade Participações S.A. | Investor Relations 24
220.2 225.7 233.7 255.2 270.8
612.1
759.6
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
3,356
5,762 6,038 5,895
3,694
12,368
15,627
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
Pension Plans
PREMIUM CONTRIBUTION (R$ MM) BREAKDOWN OF CONTRIBUTION 9M12 vs 9M13
MANAGEMENT FEES (R$ MM)
QoQ: - 37 %
YoY: + 10%
QoQ: + 6%
YoY: + 23%
QoQ: + 6%
YoY: + 49%
PROFITABILITY (R$ MM)
9M12 9M13 + 26%
+ 24% + 23%
103.0 131.0 127.7 144.6 153.3
346.3425.5
49.3%
60.5%53.8%
59.0% 58.4%51.4% 49.7%
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
Adjusted Net Income ROAE
PGBL12.8%
VGBL85.4%
Traditional1.8%
PGBL10.2%
VGBL88.0%
Traditional1.8%
BB Seguridade Participações S.A. | Investor Relations 25
61,65767,347
71,93775,237 77,616
Sep/12 Dec/12 Mar/13 Jun/13 Sep/13
Pension Plans
RESERVES (R$ MM) RESERVES BREAKDOWN
QoQ: + 3%
YoY: + 26%
SEP/12 SEP/13
TRADITIONAL PLAN PORTFOLIO BREAKDOWN OF ASSETS UNDER MANAGEMENT
Pre-Fixed3.3%
Interbank Deposit
2.6%
Linked to inflation
94.1%
Pre-Fixed5.7% Pós - CDI
5,0%
Linked to inflation
89.3%
Government Bonds73.1%
Securities*14.0%
Debentures and commercial
papers 9.6%
Others 3.3%
Government Bonds74.0%
Securities*15.0%
Debentures and commercial
papers8.3%
Others 2,7%
SEP/12 SEP/13 SEP/12 SEP/13
Securities* = CDBs, DPGEs, CRIs, FDICs, LHs e LFs
PGBL29.0%
VGBL59.2%
Traditional11.8% PGBL
25.1%
VGBL64.6%
Traditional10.3%
BB Seguridade Participações S.A. | Investor Relations 26
13.1
29.3
21.4
25.527.3
19.0
25.0
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
26
4737
76
58
91
171
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
972 1,101 1,093
1,958
1,383
2,771
4,435
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
Premium Bonds
PREMIUM BONDS COLLECTION (R$ MM)
RESULTS WITH DRAWS (R$ MM)
COLLECTION BREAKDOWN
LOTTERY RATIO (%)
QoQ: - 29%
YoY: + 42%
QoQ: + 1.8 p.p.
YoY: + 14.2 p.p.
QoQ: - 24%
YoY: + 126%
9M12 9M13 + 60%
+ 87% + 6.0 p.p.
Unique Payment
47.8%
Montlhy Payment
52.2%Unique
Payment 68.2%
Montlhy Payment
31.8%
BB Seguridade Participações S.A. | Investor Relations 27
Pre-Fixed 48,5%
Pós - CDI 44,1%
Linked to inflation
6,1%Stock Funds
1.3%
Government Bonds80.9%
Securities*6.9%
Debentures and commercial papers
9.9%
Others2.3%
Government Bonds67.6%
Securities*11.8%
Debentures and commercial papers
13.2%
Others7.3%
Pre-Fixed24.9%
Interbank Deposit50.8%
Linked to inflation
23.2%
Stock Funds1.1%
3449
25 28 27
119
80
101.4%168.0%
63.4% 63.9% 51.7%98.9%
51.0%
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
Net Income ROAE
- 0.3 p.p.
Premium Bonds
PROFITABILITY COMISSION RATIO (%)
QoQ: - 2.2 p.p.
YoY: - 8.4 p.p.
QoQ: -6%
YoY: -22% - 32%
TRADING INVESTMENTS BREAKDOWN INVESTMENT PORTFOLIO BREAKDOWN
SEP/12 SEP/13 SEP/13 SEP/12
Securities* = CDBs, DPGEs, CRIs, FDICs, LHs e LFs
52.2
29.4
42.946.1 43.9 44.9 44.6
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
BB Seguridade Participações S.A. | Investor Relations 28
49 50 50 52 5148
51
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
330 362 388447 425
997
1,260
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
161 179 194232 218
482
643
3Q12 4Q12 1Q13 2Q13 3Q13 9M12 9M13
Brokerage
REVENUES BREAKDOWN COMISSION REVENUES (R$ MN)
QoQ: - 5%
YoY: + 29%
QoQ: - 6%
YoY: + 35% + 33%
NET INCOME (R$ MN) NET MARGIN (%)
QoQ: - 1.0 p.p.
YoY: + 2.0 p.p. + 3.0 p.p.
+ 26%
9M12 9M13
SH147.7%
SH220.1%
Brasilprev16.1%
Brasilcap12.5%
Other3.6%
SH150.4%
SH217.9%
Brasilprev15.1%
Brasilcap16.0%
Other0.7%
BB Seguridade Participações S.A. | Investor Relations 29
Guidance
¹ Considering the distribution of dividends, the adjusted ROAE would be 37.2%
Guidance reinforces the company’s commitment to the best practices of Corporate Governance
Guidance 2013
BB Seguridade - Adjusted ROAE 35.8 1
Premiums written growth - BB Mapfre SH1 34.4
Premiums written growth - Mapfre BB SH2 16.5
Collection growth - Pensions Plans 26.3
Collection growth - Premium Bonds 60.1
15 - 20
30 - 40
50 - 65
RatioEstimates
2013
Values observed
9M13
37 - 41
37 - 49
BB Seguridade Participações S.A. | Investor Relations 30
Low penetration of health beneficiaries
High ROAE with no underwriting risk
Health Insurance
Focus solely on distribution
Not part of Banco do Brasil’s current portfolio
Health Insurance Distribution
Health Insurance
Opportunity to distribute partners’ products in the banking channel
Ex: Travel, micro-insurance and warranty
1st bank to receive SUSEP’s authorization to
sell micro-insurance
Potential to develop new products
Introduction of products
already tested by partners in other markets
New Products
Focus on maximizing impact and reach of product offerings
Attractive and high growth sector High ROAE with low risk Low penetration of dental plans High Cash flow
Dental insurance
Brasildental
Joint-venture with Odontoprev, created for
dental insurance operation
74,99% of Total Equity
20-year term
Entry in an underpenetrated segment
Strategic partnership with an experienced player
Infrastructure focused (PAC, World Cup and Olympics are likely to increase demand)
Reinsurance
Acquisition of 20,5% of IRB’s
common shares
Joining the control group
Deliverables
BB Seguridade Participações S.A. | Investor Relations 31
IR BB Seguridade
Contacts
Investor Relations SBS – Quadra 1 – Bloco A – Ed. Sede I – 4º andar
70.073-900 – Brasília (DF) Telephone: (61) 3102-5771
Fax: (61) 3102-5893
www.bancodobrasilseguridade.com.br ri@bbseg.com.br
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