hit tracker
Monday, June 5, 2023
HomeLatest NewsMapfre increases premium income by 10.8% in 2022

Mapfre increases premium income by 10.8% in 2022

Date: June 5, 2023 Time: 03:26:02

Premium income from Mapfre, the leading insurer in Spain, grew by 10.8% in 2022 compared to the previous year, to 24,540.3 million euros, as reported by the National Securities Market Commission (CNMV). . The company usually advances this data before the publication of the results, which will take place on February 9, as part of a transparency exercise.

Mapfre has highlighted the “solid” growth both in the Non-Life branch, which saw an increase of 12%, and in Life, with an improvement of 6.4%. The group had grown 8.7% adjusted for the following non-recurring effects: the sale of Bankia Vida at the end of 2021 (-0.8%), the relevant multi-year policy in Mexico issued in 2021 (-2.4%) and the appreciation of currencies in 2022 (+5.3%).

Regarding the premiums issued in the insurance area, they grew by 12.7%, up to 20,507.8 million euros, with an advance of 0.4% in the Iberia region, where 7,625.6 million entered until December. In Brazil, the second most important market for the insurer chaired by Antonio Huertas, premiums grew by 45.3%, to 4,851.5 million, and in Latam Sur they increased by 23%, to 2,006.8 million. Likewise, premiums from Latam North fell 3.2%, to 2,117.1 million, while income from premiums issued in North America rose 24.9%, with 2,589.5 million, and in Eurasia they fell by 3.2 %, up to 1,317.2 million euros.

The insurer has also disclosed premiums for its reinsurance business. Thus, premiums at Mapfre RE rose 15.1%, to 7,221.3 million euros, with an increase of 13.6% in the reinsurance business and 20.9% in the global risk business, while those of Mapfre Asistencia fell by 56.1%, to 213.7 million.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

Most Popular

Recent Comments