Annual
Report 2013

At Brasilprev Seguros e Previdência S.A., in 2013 we celebrated our major achievements throughout a successful track record, the epitome of our 20-year operations. Our business is exclusively devoted to the retirement industry and as one of the largest retirement trustees in Brazil, we are the offshoot of a partnership between Banco do Brasil, the largest financial institution in Latin America, and the Principal Financial Group, one of the most important financial institutions in the United States.

We are a privately-held corporation whose shareholders are PFG do Brasil Ltda., a company controlled by the Principal Financial Group, and BB Seguros Participações S.A., a wholly-owned subsidiary of BB Seguridade, which was established in December 2012 as the insurance, capitalization, and retirement division of Banco do Brasil. In 2013, BB Seguridade was given the LatinFinance Deals of the Year award for the largest initial public offering in the world (April 29 auction): this transaction was the largest since October 2009 and was valued at BRL 34 billion.

Our mission is to provide our clients with financial-security solutions and high-quality services to enable their life plans as we sell two Brazil-specific categories of retirement plans to individuals and businesses: Plano Gerador de Benefício Livre (PGBL) and Vida Gerador de Benefício Livre (VGBL).

The partnership between our shareholders, who are known for their solidity, reputation, and expertise, and our professional and effective management have favored our good performance. In the last few years, our growth has been strong, above the market average.

At the end of 2013, we were managing a portfolio with over 1.64 million clients – 88% individuals (38% of whom were children and teenagers) and 12% businesses. During FY 2013, we also celebrated a new achievement: we took the lead in total revenue in the Brazilian market, with a market share of 31.3%. In addition, we have been the leading retirement trustee in net deposits since 2008 and we ended the period with a 54.8% market share in that regard. At the end of the year, we had BRL 84.6 billion in assets under management, a 25.1% gain over 2012, and our net income worked out at BRL 582.5 million, a 20.3% increase over the previous year.

Based in São Paulo, we operate all over Brazil through more than 5,400 Banco do Brasil branches, the main distribution channel for our products and services. At the end of FY 2013, we had 454 employees in two São Paulo buildings and a specialist group of 95 business consultants scattered all over Brazil.