Following a formal evaluation by Standard & Poor’s (S&P), a well-known credit rating agency with a stable outlook, Fidelidade – Companhia de Seguros, S.A. and its reinsurance branch, Fidelidade RE – Companhia de Resseguros, S.A., were given long-term Issuer Credit Ratings (ICR) and Financial Strength Ratings (FSR) of ‘A’. This rating reflects S\&P’s confidence in Fidelidade’s continued market leadership, both within Portugal and across its international operations, over the next two years. The agency expects the company to sustain its robust capital strength and consistent profitability, underpinned by steady growth and prudent risk management practices.

Fidelidade’s geographically dispersed insurance portfolio and varied revenue streams were highlighted in S&P’s study. Leveraging its dominant 30% market share in Portugal alongside its expanding presence in markets such as Peru, Chile, various African nations, and parts of Asia, Fidelidade has strategically positioned itself as an international insurance leader. In 2024, the company demonstrated strong financial results, achieving a 12.6% increase in insurance revenues and generating a net income of EUR 173.5 million. A noteworthy indicator of its financial resilience, Fidelidade’s Solvency II ratio reached an impressive 194% at the close of 2024, affirming its stable profitability and solid capital reserves. Its international business activities now contribute 30% to total premiums, underscoring meaningful progress in its globalization strategy.

Fidelidade’s geographically dispersed insurance portfolio and varied revenue streams were highlighted in S&P’s study. This achievement marks Fidelidade’s second major credit rating milestone within a short period. Back in September 2024, Fitch Ratings upgraded Fidelidade’s ratings to A+ for Insurer Financial Strength (IFS) and to A for Issuer Default Rating (IDR), both with a stable outlook—a rating that stood as the highest ever awarded to a Portuguese company at the time.

Rogério Campos Henriques, CEO of Fidelidade, commented that this recognition from two leading global agencies is a testament to the company’s disciplined financial management and its ongoing focus on delivering value to customers, shareholders, and partners.