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HomeLatest NewsMapfre increases premium income by 10.8% in 2022

Mapfre increases premium income by 10.8% in 2022

Date: April 19, 2024 Time: 15:51:19

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.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

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

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