AM Best maintains the Rating of A (Excellent) for Grupo Catalana Occidente's main operating entities

"The credit rating agency has renewed the Rating of A (Excellent) of Grupo Catalana Occidente's main operating entities in traditional business and credit insurance. "

The rating agency AM Best has affirmed the Long-Term Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of a+ (excellent), to the main operating entities of Grupo Catalana Occidente in traditional business (Seguros Catalana Occidente, Plus Ultra Seguros and Seguros Bilbao) and also in credit insurance, where it operates through the Atradius brand.

AM Best highlighted the balance sheet strength and the appropriate enterprise risk management, as well as its robust operating performance. The assessment of the balance sheet also benefits from the low dependence on reinsurance, good liquidity and the absence of external debt.

With respect to the credit insurance business, AM Best also emphasised the strength of its balance sheet, its solid operating results, its favourable business profile, based on the broad network of agents and intermediaries and its proper management of business risk. The ratings agency also took into account Atradius' good liquidity ratio and prudent investment portfolio, as well as its high quality and well-diversified reinsurance panel.

Financial strength and robustness of the insurance group 

GCO maintains its solid financial strength and creditworthiness. In this regard, GCO received an improved outlook in Moody's October report for its main operating companies in credit insurance, upgrading its rating from stable to positive. This rating highlights the performance of Atradius focusing on credit risk over the last five years, highlighting its geographical diversification, stable investment returns and increase in equity.