MAPFRE sees written premiums spike in first half

MAPFRE sees written premiums spike in first half | Insurance Business America

MAPFRE sees written premiums spike in first half

Global insurer MAPFRE saw total written premiums grow by 6.2% in the first half of the year, the company has announced. Its reinsurance arm, MAPFRE RE, saw premiums grow by more than 11%.

In Spain, MAPFRE posted a year-over-year written premium increase of 6.9%, surpassing €4.2 billion (about $4.96 billion). In its Latin America North region, written premium spiked by 51.9%, hitting nearly €1.35 billion. However, North America posted a drop of 8.1%.

Region/business unit

Written Premiums (approximate) (in euros)

June 2020

June 2021

Change

Iberia

3.98 billion

4.25 billion

+6.9%

LatAm North

886.6 million

1.347 billion

+51.9%

LatAm South

726.8 million

756 million

+4%

Brazil

1.612 billion

1.596 billion

-1%

North America

1.116 billion

1.025 billion

-8.1%

Eurasia

775.8 million

737.7 million

-4.9%

 

MAPFRE is the largest Spanish insurer in the world, the top multinational insurance company in Latin America, and the sixth-largest non-life insurer in Europe by premium volume.

Read next: MAPFRE makes huge earnings forecast for 2021

The company has 19 offices across the world, employs 34,000 people and services 29 million clients.

Last year, MAPFRE posted net earnings of €526.5 billion, with group revenues of €25.42 billion and a combined ratio improvement of nearly 3% to 94.8% despite the impact of the COVID-19 pandemic.