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MAPFRE Sees Written Premiums Spike In First Half

Nwanne Ikemefune by Nwanne Ikemefune
July 23, 2021
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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 unitWritten Premiums (approximate) (in euros)
June 2020June 2021Change
Iberia3.98 billion4.25 billion+6.9%
LatAm North886.6 million1.347 billion+51.9%
LatAm South726.8 million756 million+4%
Brazil1.612 billion1.596 billion-1%
North America1.116 billion1.025 billion-8.1%
Eurasia775.8 million737.7 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.

Source: Insurance Business America By Ryan Smith
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