MAPFRE Group reg­is­ters €20.96 mil­lion in first nine-months of 2016

Malta Independent - - BUSINESS & FINANCE -

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.

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