The state-run lender named Andre Haui, who has worked for Banco do Brasil for 23 years and currently leads the bank's U.S. subsidiary, as Assis' replacement.

Assis, who led BB Seguridade since 2021, stepped down "to pursue new professional challenges in the private sector," the company said in a securities filing.

Assis will be replaced on an interim basis by current chief financial officer Rafael Sperendio until the next CEO is approved by the insurer's board of directors, it said.

(Reporting by Peter Frontini; Editing by Sarah Morland)