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BB Seguridades: good results

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BB Seguridade Participações, the insurance business  Banco do Brasil , met fourth-quarter profit estimates as robust distribution and reinsurance underwriting revenues helped to offset the impact of declining interest rates. The company earned US$ $345 million in recurring net income last quarter. The company expects growth in recurring net income of 1 percent to 5 percent this year, compared with about 4.1 percent last year.