Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 425

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 19
Chunk 425
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 checks and corporate system notifications (underwriting, issuance
and claims).

The main risks associated with Non-Life

The risks associated with Non-Life include,
among others:

  Oscillations in the incidence, frequency and severity of the                

  Unpredictable claims arising from an isolated risk;  

  Inaccurate pricing or inadequate underwriting of risks;  

  Inadequate reinsurance policies or risk transfer techniques;  

  Insufficient or excessive technical provisions.  

Generally, the Non-Life insurance underwritten
by the Company is of short duration. The underwriting strategies and goals are adjusted by management and informed through internal guidelines
and practice and procedure manuals.

The main risks inherent to the main Non-Life
business lines are summarized as follows:

  Auto insurance includes, among other things, physical damage                                                                         

  Business, home and miscellaneous insurance includes, among other                                                                        

The main risks associated with life
insurance and pension plans

Life insurance and Private Pension Plans
are generally long-term in nature and, accordingly, various actuarial assumptions are used to manage and estimate the risks involved,
such as: assumptions about returns on investments, longevity, mortality and persistence rates in relation to each business unit. Estimates
are based on historical experience and on actuarial expectations.

The risks associated with life insurance
and pension plans include:

  Biometric risks, which includes mortality experience, adverse                                                                                 
  morbidity, longevity and disability. The mortality risk may refer to policyholders living longer than expected (longevity) or passing         
  away before expected. This is because some products pay a lump sum if the person dies, and others pay regular amounts while the policyholder  
  is alive;                                                                                                                                     
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  Policyholder’s behavior risks, which includes persistence                                                                                     
  rate experience. Low persistence rates for certain products may result in less policies/private pension plan agreements remaining contracted  
  to help cover fixed expenses and may reduce future positive cash flows of the underwritten business. A low persistence rate may affect        
  liquidity of products which carry a redemption benefit. On the other hand, high persistence rates for deficit products can increase future    
  losses of these products;                                                                                                                     
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  Group Life-insurance risk results from exposure to mortality                                                                              

  Some Life and Pension Plan products have pre-defined yield guarantees,                                                                   

The