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.
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.