Reinsurance News
Mapfre
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
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
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