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Mercados

Brazilian reinsurer IRB restates 2019 earnings due to incorrect accounting- filing

SAO PAULO, June 30 (Reuters) - Brazilian reinsurer IRB Brasil has restated its 2019 financial statements to correct accounting irregularities, it said on Tuesday.

IRB reduced the net income in the first quarter of 2019 by 49%, to 178 million reais ($32.94 million). The reinsurer also said in the filing that had it hired the investment banks of Banco Bradesco SA and Itau Unibanco Holding SA to work on a capital raising to comply with higher provisions requested by insurance regulator. ($1 = 5.4034 reais) (Reporting by Tatiana Bautzer, editing by Louise Heavens)

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