AM Best has confirmed at ‘A’ (Excellent), with a stable outlook, the rating of the main operating entities of the traditional business and credit insurance of Grupo Catalana Occidente.
The agency values balance sheet strength and proper risk management, as well as its solid operating result. Belonging to Grupo Catalana Occidente, with a historically positive operating and financial performance, grants a favorable point in the rating.
On the other hand, he has also confirmed his c‘A’ rating, with a stable outlook, for the group’s main operating entities in the credit insurance business, in which it operates through Atradius (Atradius Crédito y Caución, and Atradius Re). The agency values the balance as “very strong” and considers that the deterioration of the result in the Credit insurance business in 2020 will be one of prompt recovery.
Crédito y Caución joins the Credit insurance support program
On the other hand, the group has informed the Insurance Compensation Consortium of its intention to join the credit insurance support program announced last Friday by the Government, according to reports Expansion. It’s pEndorsement to be specified is the percentage of premiums and risks that its Crédito y Caución subsidiary will assign in reinsurance to public support.
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