Grupo Catalana Occidente : A.M. Best updates Atradius' rating to "a+" and reaffirms r ...
October 22, 2018 at 11:33 am EDT
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22 October 2018
A.M. Best upgrades Atradius' rating to "a+" and reaffirms rating for Grupo Catalana Occidente's traditional business
The agency highlighted Grupo Catalana Occidente's solid position in the credit insurance business and restated the credit rating of entities from its traditional business.
A.M. Best has increased the long-term issuer credit rating from "a" to "a+" for Grupo Catalana Occidente's main operating companies in credit insurance, where it operates through Atradius (Atradius Crédito y Caución and Atradius Re), also maintaining a stable outlook.
The agency went on to outline what the improvement was based on, namely the strength of Atradius' balance sheet, its solid operational performance, favourable business profile, and adequate risk management. It specifically underlined the operational strength Atradius had shown over the last 10-year underwriting cycle (2008-2017), with an average combined ratio of 88%.
Traditional business
At the same time, A.M. Best also restated its "A" (Excellent) financial strength rating, and its long-term issuer credit rating of "a+" for Seguros Catalana Occidente, Plus Ultra Seguros, and Seguros Bilbao, all of which form part of Grupo Catalana Occidente's traditional business.
The credit rating upgrades highlight the solidity of Seguros Catalana Occidente's balance sheet, the strength of its operational performance, its neutral business profile, and its appropriate risk management methods. It also shows how strategically important Plus Ultra Seguros and Seguros Bilbao ratings are for Grupo Catalana Occidente.
About Grupo Catalana Occidente
Grupo Catalana Occidente is one of the leaders in the Spanish insurance sector and the global credit insurance sector. With steady growth and a broad reach, it has more than 7,300 employees, a presence in more than 50 countries and serves more than 4,000,000 customers. Its network consists of over 1,600 offices and nearly 19,000 mediators. It is currently ranked in sixth position in the Spanish market and second worldwide for credit insurance.
Carlos Gonzálezc.gonzalez@romanyasociados.esTelf. 934 142 340
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Grupo Catalana de Occidente SA published this content on 22 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 October 2018 15:32:03 UTC
Grupo Catalana Occidente SA is a Spain-based company engaged in the insurance and reinsurance sectors. The Company's activities are divided into three business segments: Life insurance, Non-life insurance and Others. The Life insurance division offers insurance policies related to health and life coverage. The Life insurance division provides property, vehicle, home, casualty and credit guarantee insurance, among others. The Others division includes services offered by Atradius NV, such as credit insurance and reinsurance, financial advisory and debt collection. The Company operates through Grupo Previsora Bilbaina, Azkaran SL, Seguros Catalana Occidente Sociedad Anonima de Seguros y Reaseguros, Grupo Compania Espanola de Credito y Caucion SL and Bilbao Compania Anonima de Seguros y Reaseguros SA, among others. The Company is a subsidiary of Inoc SA.
GRUPO CATALANA OCCIDENTE, S.A. 
