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Catalana Occidente earns 16% more in 2022 and saves the dividend by 10%

Date: June 18, 2024 Time: 02:43:36

Catalana Occidente increased its profit by 15.9% in 2022, to 542.6 million euros. The volume of business advances 7.4% compared to the previous year to reach 5,245.6 million, as a result of the growth in the traditional business and the increase in the credit insurance business, according to a statement sent to the National Market Commission of Securities (CNMV). The combined ratio experienced an increase of 1.9 percentage points to 90.8%.

In the traditional business chapter (made up of the companies Seguros Catalana Occidente, Plus Ultra Seguros, Seguros Bilbao and NorteHispana Seguros), the ordinary result grew by 7.5% to 262.6 million euros, while the volume of business (total billed premiums) stands at 2,842.9 million, 1.5% more than in 2021.

Business volume (billed premiums plus information income) also grew to 2,402.7 million euros, 15.4%, while maintaining an exhaustive selection of risks. On the other hand, the gross combined ratio closed the year at 72.3%, increasing by 8.1 pp (percentage points).

At the end of 2022, the Group’s estimated solvency ratio is 240%, a robust financial and solvency position to withstand adverse situations. For their part, permanent resources at market value in 2022 stand at 4,916.3 million euros and managed funds at 14,991.1 million euros.

Finally, the Board of Directors of Catalana Occidente agreed at its meeting yesterday, February 23, to propose to the General Shareholders’ Meeting a 10% increase in the complementary dividend that would be paid on May 10, 2023. With this, the Group would distribute a total of €1.0285/share (123.4 million euros) with an increase of 8.7%.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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