Madrid, 8 March 2018 - Grupo Catalana Occidente press release
The rating action reflects the strengthening of the financial profile of Atradius’ main operating subsidiaries (Atradius Crédito y Caución and Atradius Re) over the past five years, and its strong market position as the second largest global credit insurer.
Moody's has upgraded the Insurance Financial Strength (IFS) rating for the main operational entities of Grupo Catalana Occidente in credit insurance to A2 from A3, with stable outlook. The agency states that this decision “reflects steady strengthening of Atradius’ financial profile over the past five years, including strong and consistent profitability, strengthening capital adequacy and improvements in its risk management and reserving practices”.
In addition, Moody’s upholds Atradius’ strong market position as the second largest global trade credit insurer, and that it “continues to invest in defending and strengthening its market position”.
About Grupo Catalana Occidente
Grupo Catalana Occidente is one of the leaders in the Spanish insurance sector and the global credit insurance sector. With steady growth and a broad reach, it has more than 7,300 employees, a presence in more than 50 countries and serves more than 4,000,000 customers. Its network consists of over 1,600 offices and nearly 19,000 mediators. It is currently ranked in sixth position in the Spanish market and second worldwide for credit insurance.