Grupo Catalana Occidente SA Reports Consolidated Earnings Results for the Year Ended Dec. 31, 2011; Provides Financial Guidance for Fiscal 2012
February 22, 2012
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Grupo Catalana Occidente SA reported consolidated earnings results for the year ended Dec. 31, 2011. For the year, the company reported earned premiums for the year, net of reinsurance of EUR 1,440,730,000 against EUR 1,780,835,000 for the same period last year. Profit before tax was EUR 267,589,000 against EUR 312,097,000 for the same period last year. Consolidated profit for the year attributable to equity holders of the parent was EUR 181,270,000 against EUR 210,477,000 for the same period last year. Diluted earnings per share were EUR 1.5410 against EUR 1.7893 for the same period last year. Cash flows used in operating activities was EUR 92,333,000 against cash flows from operating activities of EUR 300,929,000 for the same period last year.
For fiscal 2012, in terms of turnover, the company expects that premiums will be between 1.0% and 1.5% lower than 2011.
Grupo Catalana Occidente SA is a Spain-based company engaged in the insurance and reinsurance sectors. The Company's activities are divided into three business segments: Life insurance, Non-life insurance and Others. The Life insurance division offers insurance policies related to health and life coverage. The Life insurance division provides property, vehicle, home, casualty and credit guarantee insurance, among others. The Others division includes services offered by Atradius NV, such as credit insurance and reinsurance, financial advisory and debt collection. The Company operates through Grupo Previsora Bilbaina, Azkaran SL, Seguros Catalana Occidente Sociedad Anonima de Seguros y Reaseguros, Grupo Compania Espanola de Credito y Caucion SL and Bilbao Compania Anonima de Seguros y Reaseguros SA, among others. The Company is a subsidiary of Inoc SA.
GRUPO CATALANA OCCIDENTE, S.A. 
