Reinsurance News
Mapfre
MAPFRE moves to 9th place in Europe’s largest insurance company rankings
11th September 2023
The MAPFRE Group has moved into 9th place in its 2022 rankings of Europe's largest insurance groups, after its premiums increased by 10.8% to reach €24.540 billion, despite the complex macroeconomic and geopolitical context. According to MAPFRE, "This increase reflects a generalized improvement for the insurance industry in practically all regions ... Read the full article
MAPFRE RE sees premiums grow 11.5% in H1 2023
28th July 2023
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has reported that premiums, which include the reinsurance and large risks business, grew 11.5% in H1 of 2023 surpassing €4.1 billion. The reinsurer also reported €140 million in losses related to the earthquake in Turkey, which has been the main relevant Nat ... Read the full article
MAPFRE RE sees premiums grow 8% in Q1’23
28th April 2023
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has reported that premiums, which include the reinsurance and large risks business, grew 8% in Q1 of 2023 to over €2.0 billion. The firm estimated that the cost for the earthquake in Turkey for MAPFRE RE amounts to €102 million, with a ... Read the full article
MAPFRE’s assistance division partners to provide services in Italy
30th March 2023
Global insurance company MAPFRE’s assistance division, MAWDY, has partnered with Italian insurer VITTORIA ASSICURAZIONI to provide assistance services to the Italian market. Under the agreement, both companies will hold 50% of the shares in a newly-formed entity. Both MAPFRE and VITTORIA ASSICURAZIONI have been working together since 2011. The partnership will target B2B2C ... Read the full article
MAPFRE & Bupa partner to develop health insurance in Latin America
24th February 2023
MAPFRE and Bupa have joined forces to offer international health insurance in Latin America, first in Peru, then in Uruguay and Paraguay, with joint opportunities in other neighbouring countries also being studied. The agreement is set to last for a decade and will automatically extend for an additional five years thereafter. The ... Read the full article
MAPFRE RE sees premiums grow 15.1% in 2022 to €7.22bn
9th February 2023
MAPFRE RE has reported that premiums, which include the reinsurance and large risks business, grew 15.1% in 2022 to €7.22 billion, with attributable earnings of €143 million. The firm states that these numbers occurred despite the increase in medium-intensity catastrophic events and serious droughts in the Paraná river basin in Brazil ... Read the full article
Economic slowdown to bring new opportunities for insurers in 2023: MAPFRE
19th January 2023
The insurance industry is to be affected by an expected slow global growth forecasted for 2023, an economic environment that will also bring new opportunities, according to MAPFRE Economics. MAPFRE’s research arm expects economic growth to slow to 2%, seven tenths of a percentage point lower than the forecast in October ... Read the full article
MAPFRE RE targets growth with €250m capital injection
2nd December 2022
MAPFRE RE has announced that its Board of Directors has agreed to raise the company’s capital by the amount of €250 million as it seeks to offer greater reinsurance capacity to its clients and capitalise on favourable pricing conditions. Funding for the capital increase will be sourced internally, from surpluses resulting ... Read the full article
MAPFRE posts premium growth but misses CR target
28th July 2022
Spanish reinsurer Mapfre has released its H1 2021 results, showing its combined ratio rose by 3.2 points to 98.3 %, compared to 95.1% from the year prior. Speaking in a results webcast today, Fernando Mata, MAPFRE’s CFO, said: "The objective of the combined ratio in a range of 94-95% ... Read the full article
Insurance invests one in every three euros in public debt – MAPFRE
14th July 2022
The insurance sector invests one in every three euros in public debt, according to a new report by MAPFRE Economics. The report, ‘Global savings after the pandemic and insurance industry investments’, also finds that most insurance companies’ investments are allocated to fixed income, both sovereign and private debt, which greater weight ... Read the full article
Appetite for underwriting property cat reinsurance business tightening
1st June 2022
Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article
Mapfre companies among six sued over oil spill in Peru
16th May 2022
Two Mapfre companies are among six entities being sued by the Peruvian government for a collective $4.5bn in damages over a January oil spill. A recent report from TRT World says that Repsol, Mapfre Global Risks, Mapfre Peru Insurance and Reinsurance Companies, La Pampilla Refinery, Transtotal Maritime Agency, and Fratelli d'amico ... Read the full article
MAPFRE reports €155m earnings in Q1 2022
28th April 2022
MAPFRE is reporting earnings of €155m in Q1 2022, with premiums growing by over 10%. The firm said that it had revenues in the first quarter of the year totalling €7.56bn. It also said that its premiums, at €6.54bn, were at their highest volumes in five years. There was, MAPRFRE reported, ... Read the full article
MAPFRE joins net zero climate alliance
27th April 2022
MAPFRE has joined the Net-Zero Insurance Alliance (NZIA) with the objective of achieving greenhouse emission neutrality by 2050 for its insurance and reinsurance underwriting portfolios. The company plans to establish underwriting criteria to reduce emissions, to define decarbonisation commitments with more relevant customers, and to promote agreements, products, and services that ... Read the full article
Munich Re’s MEAG launches European office property fund
27th April 2022
Munich Re’s MEAG has launched a new European core office property fund, which will focus on high-quality office properties in prime locations in Europe’s top venues. Both Munich Re and global Spanish insurer, MAPFRE, will be partnering as seed investors, as they will be contributing to the initial asset portfolio with ... Read the full article
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