MAPFRE Group registers €20.96 million in first nine-months of 2016
MAPFRE registered revenue of €20,964 million in the first nine months of the year, an increase of 1.8 per cent compared to the same period last year. Premiums amounted to €17,109 million, 1.3 per cent less than last year. In Malta, MAPFRE is represented by MAPFRE Middlesea and MAPFRE MSV Life.
Earnings before tax and noncontrolling interests grew by 15.5 per cent to €1,342 million and net profits were €572 million, 3.3 per cent lower than the equivalent figure for the first nine months of 2015. Total assets at the end of the nine-month period stood at €68,560 million , growing 8 per cent since the end of 2015, while shareholders’ equity increased by €585 million, (+6.8 per cent), to €9,158 million, as a result of strategic investment management.
The Insurance Unit recorded premiums of €14,025 million (1.6 per cent), while the Global Risks Unit generated premiums of €888 million, (+7.1 per cent). Premiums in the Assistance, Services and Specialty Risks Unit amounted to €889 million (5.6 per cent).
Premiums in the EMEA Regional Area grew by 43.7 per cent to €1,925 million, on the back of solid business development in Turkey, which was up by 27.8 per cent (+42 per cent in local currency) to €654 million, recording a very strong gross profit of €29.3 million (+142 per cent). Malta rose by 32.1 per cent producing premiums of €248 million.
MAPFRE RE, which accounts for 17.1 per cent of Group volume, recorded premiums of €3,180 million, up 8.5 per cent in the same period last year. Gross earnings rose to €162 million, 8 per cent more than the first nine months of 2015.