2022 Update: Fidelidade Insurance Market Leadership
CoR returning to pre-pandemic levels, price increases
ongoing in several lines of business
Portugal Non-life Combined Ratio (COR) (%)
Covid pandemic
Group Non-life Combined Ratio (CoR) (%)
96.4%
Frequency and claim costs pressured
underwriting result in 2022.
90.3%
93.0%
25.6%
Covid pandemic
96.7%
97.4%
I
93.4%
89.8%
70.8%
26.7%
27.9%
28.5%
29.3%
2019
2020
70.1%
61.9%
64.9%
68.1%
2021
2022
International Non-life Combined Ratio (COR) (%)
Price revisions implemented in all
major Non-life LoB.
Price adjustments especially
important for Corporate segment.
Digitalization across LoB and motor
claim cost optimization.
26.4%
25.8%
95.3%
26.2%
Measures to counter these trends:
I
63.9%
67.1%
69.1%
Covid pandemic
104.1%
2019
2020
2021
2022
96.6% |
88.2%
Non-
42.9%
105.4%
38.6%
•
34.0%
39.4%
life
UwR
(€ M)
62
147
118
125
I
61.3%
54.2%
57.2%
66.8%
2019
2020
2021
2022
Loss Ratio
Expense Ratio
1. Local regulator suggested release of IBNR in 2021, to be compensated in the following years
International CoR suffered a
significant non-recurring event.
In 2022 Workers' Comp. provision
reinforcements in Peru1 increased
international CoR in 6.7 p.p.
1.5 p.p. on consolidated CoR.
22 FIDELIDADEView entire presentation