OCASO’s financial strength is undoubtedly one of its main assets. The Company’s solvency margin as at December 31, 2014, amounted to 1009.77 million of euros, that is, 6.4 times higher than that established as a requirement by the legislation in force. Thus, OCASO has maintained a privileged position with regard to its competitors for many years now.
OCASO’s risk selection policy has brought, for many years, significant net profit. Net profit for FY 2014, after tax, was 81.79 million of euros which, consolidated with the profit obtained by the rest of companies in the Group, amounted to a total of 85 million of euros.
The prestigious firm A.M. Best (www.ambest.com), the specialist in solvency and financial strength analysis and rating for insurance companies, has confirmed OCASO’s financial strength rating, with an A (Excellent) rating.
In 2014 we fulfilled the general objectives set at the beginning of the same period, reaching a total volume of premiums written for direct insurance of 908.95 million Euros. In relation to the turnover of the Group we have reached a figure of 1,051 million euros.
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Capital stock amounts to 310 million of euros. In brief, the good results obtained by OCASO confirm the strength, once again, of its business approach based on independence, solvency and financial stability, profitable growth and excellence in its service and assistance to the Insured.