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Grupo Catalana Occidente posts YOY rise in Q1 income

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Grupo Catalana Occidente posts YOY rise in Q1 income

reported first-quarter consolidated result attributable to the parent companyof €76.2 million, compared to €69.1 million in the same period in 2015.

Theresult from the group's traditional business amounted to €42.8 million, up from€31.6 million on a yearly basis. The result from the credit insurance businessincreased over the same period to €53.0 million from €48.2 million.

GrupoCatalana Occidente posted a nonrecurring loss of €11.0 million in the firstquarter, compared to a year-ago loss of €1.1 million. Technical provisionsincreased to €9.26 billion from €7.54 billion.

Turnoverin the company's traditional business increased to €694.1 million from €471.5million in the first quarter of 2015, reflecting the 100% of . Turnover in thecredit insurance business rose to €510.5 million from €504.9 million.

Thegroup confirmed its Solvency II ratio as of Dec. 31, 2015, at 198%, 18percentage points more than the estimate provided Feb. 25, 2015.