AM Best reaffirms the financial strength of GCO's traditional business and credit insurance

"The credit rating agency has renewed the Rating of A (excellent) with a stable outlook for GCO's main operating entities."

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 GCO in traditional business (Occident) and also in credit insurance, where it operates through the Atradius brand. This rating reflects the Group's solvency and financial strength.

As for traditional business, AM Best highlighted its solid operating performance and balance sheet strength. The agency also highlighted the risk management carried out by the insurer, its positive liquidity and the low dependence on reinsurance.

In the credit insurance business, the rating agency underlined its strong capitalisation, the strength of its balance sheet and the operating results obtained, as well as the adequate management of its business risk carried out by Atradius. It also highlighted the geographical and sectoral diversification of its portfolio exposure. 

Solvency and financial strength guaranteed by the main rating agencies

GCO's solid financial and solvency position is regularly endorsed by the rating agencies AM Best and Moody's. In this regard, Moody's improved GCO's rating in the credit insurance business to A1, with a stable outlook in September 2023.