Quálitas Announces Earnings Results for the Fourth Quarter and Full Year of 2018; Provides Earnings Guidance for the Year 2019
January 30, 2019 at 07:30 pm IST
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Quálitas announced earnings results for the fourth quarter and full year of 2018. For the year, Premium written show a 3-year compound annual growth rate of 20%. The premiums earned 23.1%, and the comprehensive financial income show 27.3%.
The written premiums that increased by 2.1% during the quarter. That was a real challenge if company consider that new car sales decreased by 7.2% over the period.
For the year 2019, the company is estimating an increase in written premiums between 5% and 7% mainly due to expectation of a continuing slowdown of new car sales for this year but also based on estimates of growth brought by the higher enforceability of Mandatory Insurance; and earned premiums growth between 7% and 9%, a figure higher than increasing written premiums.
Qualitas Controladora SAB de CV is a Mexico-based holding company engaged in the insurance sector. The Company focuses on providing automobile insurance products. It offers insurance policies to car fleet owners, financial institutions and individual customers through four segments: Written premiums, Ceded premium, Unearned premiums reserve and Earned retained premiums. The Company is present in Mexico, the United States, El Salvador and Costa Rica. The Company operates through a number of subsidiaries, including Qualitas Compania de Seguros SAB de CV, Qualitas Financial Services Inc, Easy Car Glass SA de CV, Activos JAL and CristaFacil SA de CV, among others.
QUÁLITAS CONTROLADORA, S.A.B. DE C.V. 
