Occident drives GCO’s consolidated profit up to €439.4 million in the first half of 2026

"The Group’s turnover reached €3.6953 billion, up 7.9%, driven by strong commercial performance, particularly at Occident"

GCO closed the first half of 2026 with a consolidated profit of €439.4 million, which is 5.9% more than in the same period of the previous year. Turnover, meanwhile, reached €3.6953 billion, up 7.9%, supported by Occident's good performance and maintaining the positive trend recorded by the Group in recent years.

Occident has recorded a turnover of €2.0789 billion, 9.1% more than in the first half of 2025, and an ordinary profit of €184.1 million (+6.0%). Despite the greater impact of weather events, the combined ratio stands at 89.5 per cent (+0.2 percentage points), in line with the first half of 2025, underpinned by technical rigour and thanks to the company’s focus on operational efficiency.

Multi-risk and Auto insurance are the two branches that bring the most business. In Multi-risk, Occident achieves a turnover of €569.6 million, up 9.4%, and a technical profit of €57.4 million. The combined ratio for the branch stands at 88.5%, (+1.3 p.p.), after more adverse weather conditions in the year to date compared to the first half of last year. Even so, the combined ratio reflects the business' good performance, the improvement in efficiency and the control of claims. This performance is supported by the growth of key home, owner association and SME products, as well as a competitive offering tailored to customers' needs.

In the Auto insurance branch, premiums billed amount to €468.7 million, 6.9% more than in the same period last year. The technical profit after expenses reaches €29.9 million, representing an increase of 26.9% compared to the previous six-month period. The combined ratio also improves to 92.8% (-0.9 p.p.), in line with the positive trend observed in recent years.

For its part, Atradius reaches the midpoint with an ordinary profit of €226.3 million, 0.6% more than the previous year. Turnover increased by 6.9% to €1.4709 billion, while the combined ratio was 75.2% (+1.1 p.p.), higher than that recorded in the same period of the previous year. Atradius continues to play a key role in the Group, contributing geographical diversification and risk expertise.

Growth, efficiency and digitalisation as strategic pillars

Within the framework of the 2025-2027 Strategic Plan, the Group has continued to make progress in its main strategic priorities: growth, efficiency, digitalisation and cross-cutting approach. In this regard, Occident has revamped its digital E-cliente platform with the aim of facilitating the online management of its insurance and services, and offering a simpler, more intuitive and personal experience. 

The company has also continued to strengthen its proximity model through its professional mediation network, something that sets it apart from competitors. During the first half of the year, Occident has made progress in its expansion plan with the opening of 12 new offices and the promotion of the renewed Entrepreneurs Programme, which includes more than 600 professionals and is aimed at facilitating the incorporation of new profiles into the insurance sector.

New solutions to anticipate customers’ needs

During the first half of the year, Occident has continued to evolve its insurance offering. For private individuals, the Double Protection Home insurance proposal has been promoted, which combines home insurance and a connected alarm with free installation and a fixed price, for both the insurance and the alarm, for three years. In addition, new mobility solutions have been incorporated, such as the launch of specific insurance for electric scooters in response to the new regulatory framework. In addition, during the first half of the year, two new Capital Savings issues were launched, aimed at customers seeking saving solutions with guaranteed returns. Occident has also continued to evolve its offering with products aimed at the older generations, with the renewal of the Bienestar Sénior health insurance and the launch of the new Vida Sénior life insurance aimed at people over 60 years of age. Finally, in the business sector, Occident has created the new ‘Espacio Empresas by Occident’, reflection and learning spaces to help anticipate the challenges in conducting business and promote a culture of prevention and protection.

Response to weather events and service improvement

Continuous service improvement has also been key in the face of an increase in adverse weather events, especially in January. During the first six months of the year, Occident has provided more than 130,000 services to insured parties affected by weather events, 79.8% more than in the same period of the previous year.

Furthermore, the company has continued to strengthen its customer service, information and assessment mechanisms to expedite the response to affected insured parties, maintaining an active prevention policy by sending personalised weather alerts. In the first half of the year alone, more than 490,000 preventive communications were sent in anticipation of adverse events.

Solid financial strength and creditworthiness

The Group maintains its solid financial strength and creditworthiness. At the close of 2025, the Group's Solvency II ratio stands at 231.5%, reflecting its financial strength and its ability to cope with adverse situations.

On top of that, the strength of the Group continues to be reflected in the ratings of the main rating agencies. In 2025, Moody's assigned GCO a long-term issuer rating of 'A3' with a stable outlook, while, recently, A.M. Best reissued the Group's 'A' rating.

According to Clara Gómez, General Manager of Finance and Risk at GCO, 'the Group closes the first half of the year demonstrating its solid strategy, which is once again reflected in a volume of business and results that have continued their growth trajectory.'