Reinsurance News

Mapfre

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

MAPFRE outlines new strategy, targets 6% premium growth

14th March 2022

Spanish insurer MAPFRE has outlined a new strategic plan for 2022-2024, which includes a premium growth target of 5-6%, as well as an average ROE of 9-10%. The company recently reported a 45.3% increase in earnings for 2021, which totalled €765 million, backed by double-digit top-line growth and a significant ... Read the full article

Is MAPFRE about to change its climate policy?

11th March 2022

MAPFRE will reportedly update its climate policy ‘significantly’ at its latest AGM, according to the pressure group Insure Our Future. According to Insure Our Future, MAPFRE, “ coal, gas and oil companies that do not commit to an energy transition plan that allows global warming to be maintained at around 1.5C." MAPFRE ... Read the full article

MAPFRE launches new insurtech scale-up program

28th February 2022

MAPFRE has launched a new scale-up program for insurtechs that offers up to €100,000 of financing per project, focusing on health and wellness, climate risks, and cybersecurity for SMEs. This version of insur_space is MAPFRE’s fourth to date, and is aimed at early-stage or growth companies that already have a product ... Read the full article

MAPFRE earnings up 45%, boosted by reinsurance growth

10th February 2022

Spanish insurer MAPFRE has reported a 45.3% increase in earnings for 2021, which stand at €765 million, backed by double-digit top-line growth and a significant recovery in earnings at its reinsurance unit, MAPFRE RE. MAPFRE RE reported earnings of €152 million for the year, consisting of €118 million from reinsurance business ... Read the full article

2022 to see less intense growth rates: MAPFRE report

3rd February 2022

Analysts at MAPFRE Economics have released a report which shows that the second half of 2021 saw less intense growth rates which will continue into this year, reducing from 4.9% to 4.8% for 2022 in the baseline scenario, while they predict an increase of 3.6% for 2023. They also explained that ... Read the full article

MAPFRE reports reinsurance growth

18th January 2022

Spanish insurer MAPFRE has released a breakdown of the growth in its written premiums between December 2020 and December 2021, revealing that its reinsurance business grew by 12.8% in this time. The latest results follow the company’s reporting in October that its reinsurance business had grown 14.5% in the first ... Read the full article

Pandemic triggers 12% contraction in LatAm market, MAPFRE finds

31st December 2021

The Latin American insurance market registered an 11.9% decrease in premiums during the year of the pandemic, to $134.4 billion, according to new data from MAPFRE. Of the total premium figure, 57% came from non-life insurance and the remaining 43% from life insurance, MAPFRE reported. The sector’s contraction was caused mainly by ... Read the full article

MAPFRE sells Bankia stake to Caixabank in €571m deal

30th December 2021

Spanish insurer MAPFRE has agreed to terminate its bancassurance agreement with Caixabank, following a change in ownership last year. The agreement sees MAPFRE sell its 51% stake Bankia’s insurance business in a deal worth €571 million, with the potential for an additional €52 million from an arbitration process. Caixabank, which took over ... Read the full article

MAPFRE highlights reinsurance growth as group hits €20bn in 9M revenues

29th October 2021

Spanish re/insurer MAPFRE has reported favourable growth of 14.5% within its reinsurance business, citing it as contributing factor in the overall group’s 6.4% increase in net earnings. MAPFRE RE contributed more than €95 million to earnings, compared to losses of €20 million for the same period in 2020, mainly related to ... Read the full article

Everything points in the same direction – further hardening: MAPFRE RE CUO San Basilio

16th September 2021

While rate momentum has slowed somewhat throughout 2021, the current favourable reinsurance market environment is expected to persist into 2022 amid ongoing pressures from the pandemic, natural catastrophes and social inflation, according to Javier San Basilio, Chief Underwriting Officer (CUO) for MAPFRE RE. In a recent interview with Reinsurance News, San ... Read the full article

Mapfre’s combined ratio falls to 95.1% in H1

27th July 2021

Spanish re/insurer Mapfre has released its H1 2021 results, showing an improved combined ratio of 1.6 points to stand at 95.1%, compared to 96.7% from the year prior. The group’s premiums grew by 6.2% in the first six months of the year, reaching almost €11.7 billion. It also announced its earnings have ... Read the full article