| Summary of assets and liabilities related to insurance activities |
| | | | | | | 12/31/2025 | | 12/31/2024 | Insurance contracts assets | | | | | Assets for remaining coverage | | 2,841,301 | | 6,383,998 | Liability for incurred claim - present value of future cash flow | | (640,512) | | (2,406,240) | Liability for incurred claim - risk adjustment for non-financial risk | | (73,364) | | (119,954) | Net balance | | 2,127,425 | | 3,857,804 | | | | | | Insurance contracts Liabilities | | | | | Assets for remaining coverage | | 1,520,853 | | — | Liability for incurred claim - present value of future cash flow | | (1,820,956) | | — | Liability for incurred claim - risk adjustment for non-financial risk | | (169,898) | | — | Net balance | | (470,001) | | — | | | | | | Reinsurance contracts Assets | | | | | Assets/(Liabilities) for remaining coverage | | 2,481 | | (79,760) | Incurred Claims for contracts under the Premium Allocation Approach (PAA) | | 326,304 | | 186,481 | Net balance | | 328,785 | | 106,721 | | | | | | Reinsurance contracts liabilities | | | | | Liabilities for remaining coverage | | — | | (25,273) | Incurred Claims for contracts under the Premium Allocation Approach (PAA) | | — | | 1,796 | Net balance | | — | | (23,477) | | | | | | Balances from brokers operations | | | | | Assets from brokers operations | | 207,018 | | 224,325 | Liability from brokers operations | | (71,431) | | (205,761) | Net balance | | 135,587 | | 18,564 | | | | | | Assets | | 2,663,228 | | 4,188,850 | Liability | | (541,432) | | (229,238) |
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| Schedule of result for insurance activities |
| | | | | | | | | 12/31/2025 | | 12/31/2024 | | 12/31/2023 | Insurance revenue from contracts measured under the Premium Allocation Approach (PAA) | | 52,198,864 | | 53,656,427 | | 53,187,288 | Insurance revenue | | 52,198,864 | | 53,656,427 | | 53,187,288 | Incurred claims | | (11,972,109) | | (8,962,324) | | (7,380,333) | Acquisition and administrative expenses | | (14,703,304) | | (17,318,937) | | (9,072,248) | Insurance service expenses | | (26,675,413) | | (26,281,261) | | (16,452,581) | Allocation of reinsurance premiums | | (320,412) | | (394,538) | | (425,655) | Amounts recoverable from reinsurers for incurred claims | | 1,123,096 | | 204,022 | | 105,963 | Net expenses from reinsurance contracts held | | 802,684 | | (190,516) | | (319,692) | Insurance service result - IFRS 17 | | 26,326,135 | | 27,184,650 | | 36,415,015 | Broker activity operations | | 10,158,176 | | 5,695,618 | | 4,925,697 | Income from insurance activities | | 36,484,311 | | 32,880,268 | | 41,340,712 |
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| Schedule of reconciliation of the liability for remaining coverage and the liability for incurred claims |
| | | | | | | | | Incurred claims for
contracts under the
Premium Allocation
Approach (PAA) | Reinsurance contracts held at December 31, 2025 | | Remaining coverage | | Present value of future
cash flows | | Total | Reinsurance contracts liabilities | | (25,273) | | 1,796 | | (23,477) | Reinsurance contracts assets | | (79,760) | | 186,481 | | 106,721 | Net balance as at January 1, 2025 | | (105,033) | | 188,277 | | 83,244 | Net income (expenses) from reinsurance contracts held | | | | | | | Allocation of reinsurance premiums | | (320,412) | | — | | (320,412) | Amounts recoverable from reinsurers for incurred claims | | — | | 1,123,096 | | 1,123,096 | Net income (expenses) from reinsurance contracts held | | (320,412) | | 1,123,096 | | 802,684 | IAS29 + finance income from reinsurance contracts held | | (26,090) | | (23,551) | | (49,641) | Total amounts recognised in comprehensive income | | (346,502) | | 1,099,545 | | 753,043 | Cash flows | | | | | | | Premiums paid net of ceding commissions and other directly attributable expenses paid | | 454,016 | | — | | 454,016 | Recoveries from reinsurance | | — | | (961,518) | | (961,518) | Total cash flows | | 454,016 | | (961,518) | | (507,502) | Net balance as at December 31, 2025 | | 2,481 | | 326,304 | | 328,785 | Reinsurance contract Assets | | 2,481 | | 326,304 | | 328,785 |
| | | | | | | | | Incurred claims for
contracts under the
Premium Allocation
Approach (PAA) | Reinsurance contracts held at December 31, 2024 | | Remaining coverage | | Present value of future
cash flows | | Total | Reinsurance contracts liabilities | | (71,027) | | 56,611 | | (14,416) | Net balance as at January 1, 2024 | | (71,027) | | 56,611 | | (14,416) | Net income (expenses) from reinsurance contracts held | | | | | | | Allocation of reinsurance premiums | | (394,538) | | — | | (394,538) | Amounts recoverable from reinsurers for incurred claims | | — | | 204,022 | | 204,022 | Net income (expenses) from reinsurance contracts held | | (394,538) | | 204,022 | | (190,516) | IAS29 + finance income from reinsurance contracts held | | 82,386 | | (29,588) | | 52,798 | Total amounts recognised in comprehensive income | | (312,152) | | 174,434 | | (137,718) | Cash flows | | | | | | | Premiums paid net of ceding commissions and other directly attributable expenses paid | | 278,141 | | — | | 278,141 | Recoveries from reinsurance | | — | | (42,770) | | (42,770) | Total cash flows | | 278,141 | | (42,770) | | 235,371 | Net balance as at December 31, 2024 | | (105,033) | | 188,277 | | 83,244 | Reinsurance contracts liabilities | | (25,273) | | 1,796 | | (23,477) | Reinsurance contracts assets | | (79,760) | | 186,481 | | 106,721 |
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| Summary of activity of reinsurance contract liabilities and insurance contract assets |
| | | | | | | | | | | | | December 31, 2025 | | | Insurance contracts issued | | | | Further analysis of the liabilities for incurred claims (LIC) for contracts under the Premium Allocation Approach (PAA) | | | | | Liability for remaining coverage (LRC) | | Present value of future cash flows | | Risk adj. for non-fin. risk | | Total | Insurance contracts assets | | 6,383,998 | | (2,406,240) | | (119,954) | | 3,857,804 | Net balance as at January 1, 2025 | | 6,383,998 | | (2,406,240) | | (119,954) | | 3,857,804 | Insurance revenue | | 52,198,864 | | — | | — | | 52,198,864 | Insurance service expenses | | | | | | | | | Incurred claims and other directly attributable expenses | | — | | (23,447,572) | | (152,077) | | (23,599,649) | Insurance acquisition cashflows | | (3,075,764) | | — | | — | | (3,075,764) | Insurance service expenses | | (3,075,764) | | (23,447,572) | | (152,077) | | (26,675,413) | Insurance service result | | 49,123,100 | | (23,447,572) | | (152,077) | | 25,523,451 | IAS 29 + net financial expenses for insurance contracts | | (3,865,440) | | 147,948 | | 28,769 | | (3,688,723) | Total amounts recognised in comprehensive income | | 45,257,660 | | (23,299,624) | | (123,308) | | 21,834,728 | Cash flows | | | | | | | | | Premiums received | | (49,469,747) | | — | | — | | (49,469,747) | Claims and other directly attributable expenses paid | | — | | 23,244,396 | | — | | 23,244,396 | Insurance acquisition cashflows | | 2,190,243 | | — | | — | | 2,190,243 | Total cash flows | | (47,279,504) | | 23,244,396 | | — | | (24,035,108) | Net balance as at December 31, 2025 | | 4,362,154 | | (2,461,468) | | (243,262) | | 1,657,424 | Closing insurance contracts assets | | 2,841,301 | | (640,512) | | (73,364) | | 2,127,425 | Closing insurance contracts liabilities | | 1,520,853 | | (1,820,956) | | (169,898) | | (470,001) | Net balance as at December 31, 2025 | | 4,362,154 | | (2,461,468) | | (243,262) | | 1,657,424 |
| | | | | | | | | | | | | December 31, 2024 | | | Insurance contracts issued | | | | Further analysis of the liabilities for incurred claims (LIC) for contracts under the Premium Allocation Approach (PAA) | | | | | Liability for remaining coverage (LRC) | | Present value of future cash flows | | Risk adj. for non-fin. risk | | Total | Insurance contracts assets | | 4,936,104 | | (1,470,553) | | (65,021) | | 3,400,530 | Net balance as at January 1, 2024 | | 4,936,104 | | (1,470,553) | | (65,021) | | 3,400,530 | Insurance revenue | | 53,656,427 | | — | | — | | 53,656,427 | Insurance service expenses | | | | | | | | | Incurred claims and other directly attributable expenses | | — | | (20,510,225) | | (90,095) | | (20,600,320) | Insurance acquisition cashflows | | (5,680,941) | | — | | — | | (5,680,941) | Insurance service expenses | | (5,680,941) | | (20,510,225) | | (90,095) | | (26,281,261) | Insurance service result | | 47,975,486 | | (20,510,225) | | (90,095) | | 27,375,166 | IAS29 + net financial expenses for insurance contracts | | (10,634,744) | | 379,970 | | 35,162 | | (10,219,612) | Total amounts recognised in comprehensive income | | 37,340,742 | | (20,130,255) | | (54,933) | | 17,155,554 | Cash flows | | | | | | | | | Premiums received | | (38,906,564) | | — | | — | | (38,906,564) | Claims and other directly attributable expenses paid | | — | | 19,194,568 | | — | | 19,194,568 | Insurance acquisition cashflows | | 3,013,716 | | — | | — | | 3,013,716 | Total cash flows | | (35,892,848) | | 19,194,568 | | — | | (16,698,280) | Net balance as at December 31, 2024 | | 6,383,998 | | (2,406,240) | | (119,954) | | 3,857,804 | Closing insurance contracts assets | | 6,383,998 | | (2,406,240) | | (119,954) | | 3,857,804 | Net balance as at December 31, 2024 | | 6,383,998 | | (2,406,240) | | (119,954) | | 3,857,804 |
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