#Portugal #Fidelidade #Lisbon #Credit Rating #S&P

Fidelidade Receives 'A' Rating from S&P

On July 18, 2025, Standard & Poor's (S&P), one of the premier international credit rating agencies, commenced coverage on Fidelidade – Companhia de Seguros, S.A. This organization, along with its reinsurer Fidelidade RE – Companhia de Resseguros, S.A., was awarded long-term Issuer Credit Ratings (ICR) and Financial Strength Ratings (FSR) of 'A'. This prestigious rating comes with a stable outlook and underscores Fidelidade's sound market position.

S&P anticipates that over the next two years, Fidelidade will maintain its leadership not only in the domestic Portuguese market but also in various international arenas. The financial stability and profitability of the company are expected to remain robust, bolstered by steady annual growth and prudent risk management practices.

In their evaluation, S&P noted Fidelidade's achievement in diversifying its income streams and developing a globalized insurance portfolio. With a commanding market share of 30% in Portugal, Fidelidade has extended its operations to countries like Peru, Chile, and regions in Africa and Asia. 2024 witnessed the company experiencing significant financial growth, reporting a 12.6% increase in insurance revenues alongside a net income of €173.5 million. Notably, their Solvency II ratio reached an impressive 194% by the close of 2024, reaffirming its strong capitalization and consistent profitability. This reflects a solid strategic focus on international operations, contributing to 30% of total premiums.

The confirmation of an 'A' rating from S&P highlights the agency's recognition of Fidelidade's balanced business portfolio, its growing international presence, and its steady financial results. This is not the first time Fidelidade has earned such recognition; the company had previously been rated 'A+' by Fitch Ratings in September 2024, transitioning from an A rating, with strong market confidence behind them. This was the highest rating attained by a Portuguese company at that time.

Rogério Campos Henriques, CEO of Fidelidade, expressed that this dual acknowledgment by leading rating agencies underlines the confidence in the strategies the company has been implementing. He pointed out that these accolades stem from strict financial governance, sound management, and a persistent commitment to delivering value to clients, shareholders, and partners alike.

As part of Fosun International, one of the core subsidiaries, Fidelidade has established a stronghold in the Portuguese market over many years. Its reach encompasses Europe, Africa, Latin America, and Macau SAR, where it has leveraged the global ecosystem of Fosun to fortify its position domestically and achieve prominent outcomes in international expansions, gaining a notable presence particularly in Peru and Bolivia.

The newfound recognition from S&P indicates a promising trajectory ahead for Fidelidade. The company is likely to lead the charge in innovation and growth across the insurance sector both locally and internationally, building on a solid foundation of stability and performance. Such accolades not only enhance Fidelidade’s reputation but also solidify investor confidence in an ever-evolving financial landscape.