MOODY’S ASSIGNS FIRST-TIME A3 IFSR TO FIDELIDADE MACAU
Macao, January 12, 2021 – Yesterday, Moody’s Investors Service (Moody’s) assigned an A3 insurance financial strength rating (IFSR) to Fidelidade Macau - Insurance Company Limited (Fidelidade Macau), an important achievement that reflects the company’s strong underwriting profitability and capitalization, along with its prudent investment allocation. The outlook is stable, reflecting Moody's expectation that Fidelidade Macau will maintain its robust level of risk-adjusted capitalisation in the next 12-18 months.
Commenting on the achievement, Mr. Paulo Barbosa, Chief Executive Officer at Fidelidade Macau, said: “This is the culmination of a collective effort across the Company towards the same goal: to be the most preferred insurance company, trusted partner with intermediaries, provider of quality and innovative products and services according to the highest norms of ethical standards, competence and integrity. We will keep our commitment with them, with our dedicated staff, partners and especially our shareholders for their investment and continued support”.
Mr. Ivan Cheung, Executive Director also took the opportunity to comment this milestone: “Our teams have been doing an outstanding job throughout these years, protecting our individual and corporate customers helping them to achieve and enhance their protection and financial prosperity. Our responsibility is even bigger now, but our commitment and dedication remains unchanged.”
Fidelidade Macau is now the only local Non-Life Insurer to have a Credit Rating assigned by Moody’s, which is a remarkable accomplishment for the Company and for the Macao Special Administrative Region. To find out more about this assignment you can access Moody’s Announcement here.
About Fidelidade in Macao
Established in Portugal in the year of 1808, Fidelidade – Companhia de Seguros, S.A. is one of the oldest insurance companies in Europe. Today, Fidelidade is the market leader in Portugal, both in life and non-life segments, with a market share of 25,5% in 2019, and present in Angola, Cape Verde, Mozambique, Spain, France, Macao, Peru, Bolivia, Paraguay and Chile.
With 2.3 million customers in Portugal and more than 7 million worldwide, Fidelidade conducts its activity with a “Customer Centric Approach” strategy and, through a distribution network and channels of high dimension, assuring an integrated and personalized experience to its customers, for the different channel used.
In the Macao SAR, Fidelidade Macau is duly authorized to perform insurance businesses since 1999. Throughout this 22 years, Fidelidade Macau has been serving its clients with the highest quality standards of insurance services for the protection of individual customers and companies, playing an extraordinary role in areas of social responsibility namely in the protection of lives, property and people's well-being, safeguarding the stability of society, insuring key infrastructure development projects, boosting economy and providing its customers with an attractive and innovative offer.
Together, in protection, care and health, adding efforts and multiplying wills to serve more and better our customers.
This is the spirit that has guided Fidelidade for over 210 years!
So that life doesn’t stop!