New corporate operation by FIATC to establish itself in the insurance sector and, especially, in the health branch. The mutual company based in Barcelona announced this Monday that it has reached an agreement to acquire a majority stake in Igualatorio de Previsión Sanitaria de Seguros (Ipresa), a company that has been operating in the province of Guipúzcoa since 1946.
"The acquisition is part of FIATC's growth strategy in the health branch which currently already reports more than 170 million euros in premiums," says the group chaired by Joan Castells, who points out that with this purchase Fiatc will strengthen its presence in the Basque Country and in Guipúzcoa, where Ipresa has a strong market penetration and brand recognition.
According to FIATC, in addition to the insurance business, Ipresa owns and manages the Arrasate Medical Center, located in the center of San Sebastián. This operation comes after the group, through Fiatc Residencias, closed the purchase of the CRAL Sant Just residence in September, located in Sant Just Desvern (Barcelona) and with a trajectory of more than twenty years of experience. Along with health ---FIATC owns Clínica Diagonal---, facilities for the elderly are FIATC's big bet, which now manages four residential centers for the elderly totaling 487 residential places and 105 day center places.
FIATC Seguros, considered the second mutual company in the country by premium volume with a multi-branch offering, closed the 2021 financial year with an income volume of 772.86 million euros, a figure that represents an increase of 6.15% compared to the previous year, higher than the increase achieved in 2020 (+5.46%). Again, the company managed to grow above the sector average, which stands at 5%. The Barcelona-based insurer achieved a net profit of 15.46 million, a figure that rises to 17.43 million in terms of the consolidated group, that is, taking into account its subsidiaries.
The 772.86 million in premium income places FIATC among the top 18 non-life insurance entities in Spain and the second insurance mutual. Of this figure, 290.99 million correspond to the life and death area and 481.86 million to the non-life area, which represents an increase in business volume of 4.66% and 7.07%, respectively.