Quarterly Report 3M2021

Grupo Catalana Occidente S.A.

Table of contents

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Report 3M2021 Grupo Catalana Occidente

01. Keys of the period 3M2021 .................................................................................................................................

3

Key financial figures....................................................................................................................................................................

4

Business diversification .............................................................................................................................................................

6

Group Performance in 3M2021 ...............................................................................................................................................

7

GCO shares and dividends .........................................................................................................................................................

8

Market environment....................................................................................................................................................................

9

Group actions against COVID-19 .........................................................................................................................................

10

02. Business performance in 3M2021 ...................................................................................................................

11

Traditional business...................................................................................................................................................................

12

Credit insurance business........................................................................................................................................................

15

Investments and funds under management.....................................................................................................................

17

Capital management..................................................................................................................................................................

19

Sustainability ............................................................................................................................................................................

20

03. Annexes................................................................................................................................................................

21

About Grupo Catalana Occidente ..........................................................................................................................................

22

Additional Information credit insurance...........................................................................................................................

23

Expenses and commissions ...................................................................................................................................................

25

Financial result...........................................................................................................................................................................

25

Non-recurring result.................................................................................................................................................................

25

Balance sheet...............................................................................................................................................................................

26

Corporate structure ....................................................................................................................................................................

27

Board of Directors......................................................................................................................................................................

28

Calendar and contact ................................................................................................................................................................

29

Glossary.........................................................................................................................................................................................

30

Legal note......................................................................................................................................................................................

34

2

Report 3M2021 Grupo Catalana Occidente

01 Keys of the period 3M2021

3

Report 3M2021 Grupo Catalana Occidente

Main figures

The Group managed to increase turnover and profit over the previous year in the first quarter

Growth

  • Increase of 1.2% in turnover.

Profitability

  • Increase of 22.5% in the attributed result, with Ū110.5 million.
  • Improvement in recurrent earnings in the traditional business and in the credit insurance business, which continues to be exposed to the performance of COVID-19:
    • +3.1% in the traditional business, with Ū57.1 million.
    • +40.0% in the credit insurance business, with Ū67.6 million.
  • Combined ratio:
    • 88.9% in traditional business (non-life).
    • 62.3% in the credit insurance business (gross).
  • Commitment to shareholders: dividend charged to 2020 paid of Ū105.85 million, an increase of 29.86%.

Solvency

  • The estimated Solvency II ratio at the close of 2020 for the Group is 216%.

Attributed result

Consolidated result

Ū110.5 M

Turnover

+22.5%

Ū122.6 M

Ū1,503.6 M

+25.4%

+1.2%

Recurring result

Managed funds

traditional business

+

Ū57.1 M

Ū15,125.7 M

+3.1%

+2.5%

Recurring result

Technical provisions

business

Ū67.6 M

Ū11,389.3 M

+40.0%

+3.7%

Ū4,835.9 M

+3.7%

Permanent resources at

market value

4

Report 3M2021 Grupo Catalana Occidente

(figures in Ū million)

Key financial figures

3M2020

3M2021

% Chg.

20-21

GROWTH

Turnover

1,486.1

1,503.6

1.2%

- Traditional business

875.6

884.5

1.0%

- Credit insurance business

610.5

619.1

1.4%

PROFITABILITY

Consolidated result

97.7

122.6

25.4%

- Traditional business

55.4

57.1

3.1%

- Credit insurance business

48.3

67.6

40.0%

- Non-recurring

-6.0

-2.1

Attributed result

90.2

110.5

22.5%

Combined traditional business ratio

89.2%

88.9%

-0.3

Combined gross ratio credit insurance

87.4%

62.3%

-25.1

Dividend per share

Pay-out

Share price

18.4

34.0

84.6%

PER

5.9

14.4

ROE

NON-FINANCIAL DATA

Number of employees

7,426

7,351

-1.0%

Number of offices

1,601

1,576

-1.6%

Number of intermediaries

17,380

17,004

-2.2%

12M2020

3M2021

% Chg.

20-21

SOLVENCY

Permanent resources at market value

4,663.4

4,835.9

3.7%

Technical provisions

10,982.5

11,389.3

3.7%

Managed funds

14,758.9

15,125.7

2.5%

12M2020

4,559.5

2,720.4

1,839.1

270.1

238.6

50.4 -18.9 262.3 88.6% 94.1%

0.88

40.4%

29.2

13.34

7.3%

7,384

1,591

17,042

5

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Disclaimer

Grupo Catalana de Occidente SA published this content on 28 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 May 2021 15:52:03 UTC.