|Real-time Estimate - 05/05 03:59:20 pm|
Grupo Catalana Occidente S A : A.M. Best confirms the rating "A" (excellent) of Grupo Catalana Occidente, maintaining a stable outlook
|12/11/2020 | 12:57pm|
A.M. Best has affirmed the rating 'A' (excellent) for Grupo Catalana Occidente's main operating companies in traditional business, where it operates through Seguros Catalana Occidente, Seguros Bilbao and Plus Ultra Seguros.
The agency outlines the strength of the entities balance sheet, their adequate risk management and solid operational performance. The ratings also reflect lift from the track record of financial and operational support from Grupo Catalana Occidente.
Likewise, A.M. Best has confirmed the rating 'A' (excellent) with a stable outlook to the main operating entities of the Group under the Atradius brand in the credit insurance business.
The ratings reflect Atradius' balance sheet strength, which A.M. Best categorises as 'very strong' and expect a prompt recovery from the deterioration of the results in 2020, mainly due to Atradius' strong underwriting expertise and the fact that its exposures are well-diversified by geography and industry. A.M. Best also highlights the strong operating performance of Atradius, demonstrated by a 10-year (2010-2019) low average combined ratio.
Grupo Catalana de Occidente SA published this content on 11 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 December 2020 17:56:08 UTC