FIATC Seguros increases premium volume by 6.15%, nearing 800 million

FIATC Seguros closed the 2021 financial year with a premium 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 chaired by Joan Castells has 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 premiums place FIATC among the top 18 non-life insurance entities in Spain and the second mutual insurance company. 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.

The firm has grown especially in the commercialization of automobile insurance (+16.78%), civil liability (+15.24%) and transport (+11.28%). The assistance (+8.67%), death (8.27%) and industrial (7.03%) branches have also performed well.

In parallel, life policies have grown by 4.47% and now reach a total weight of 35.67% in the insurance group's portfolio. The other 64% of policies corresponding to the non-life branches are segmented into four large blocks: health insurance (22.45% of the total), automobiles (16.79%), multi-risk (13.95%) and various (11.13%).

"The year 2021 could be considered a transition year in which, despite the fact that economic activity has achieved a strong recovery, it has not managed to return to pre-pandemic levels," the insurer states in its corporate report.

According to the entity, equity has increased by 26.26 million euros in the last year and now the solvency ratio stands at 227.97%. For the purposes of the Solvency II sectoral regulations, the mutual's eligible own funds amount to 463 million euros.

In parallel to the insurance business, the FIATC Group owns Clínica Diagonal ---in Esplugues de Llobregat--- and has residences for the elderly in Cornellà, Sant Cugat and Mollet del Vallès, among other businesses.