Quálitas Controladora, S.A.B. de C.V. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 2016
January 25, 2017
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Quálitas Controladora, S.A.B. de C.V. reported consolidated earnings results for the fourth quarter and year ended December 2016. For the quarter, the company reported earned retained premiums of $6,852,583,217 against $4,648,983,984 a year ago. Operating loss was $139,764,501 against $257,888,593 a year ago. Loss before taxes was $97,537,803 against profit of $64,386,548 a year ago. Net loss was $94,363,452 against income of $53,373,869 a year ago.
For the year, the company reported earned retained premiums was $23,824,598,254 against $17,064,897,773 a year ago. Operating income was $1,107,037,003 against loss of $2,901,976 a year ago. Income before taxes was $1,933,208,421 against $830,006,093 a year ago. Net income was $1,300,618,550 against $563,772,132 a year ago.
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. 
