[RATING] Fitch Rating assigns Fidelidade Macau an Insurer Financial Strength (“IFS”) of “A-” (Strong)

Macao, December 15, 2022 – The American financial rating agency FITCH Ratings (FITCH) announced today that it has assigned Fidelidade Macau an Insurer Financial Strength (“IFS”) of “A-” (Strong), with Stable Outlook, one of the highest ratings in the Macao Special Administrative Region.

In obtaining this solid Rating, FITCH highlighted in a very positive way the company’s robust underwriting profitability and strong capitalization, along with its prudent investment allocation. The outlook is stable, reflecting Fitch’s expectation that Fidelidade Macau will maintain its robust level of risk-adjusted capitalization in the near to medium term.

Commenting on this milestone, Mr. Paulo Barbosa, Chief Executive Officer at Fidelidade Macau, said: “The rating assigned by Fitch is the culmination of the Company’s effort towards the value creation strategy that we have been following, affirming our strong ability and total commitment to fulfil all the obligations towards our clients in completeness.”.

Mr. Ivan Cheung, Executive Director also took the opportunity to highlight this achievement: “Our colleagues, as our main brand ambassadors, have been doing an outstanding job throughout these years so that these results can be possible, always and foremost alongside our individual and corporate customers, that year after year trust us for their protection. Our responsibility is even bigger now, but our commitment and dedication remain unchanged.”