Mapfre’s revenues are boosted by EMEA region growth

Spanish re/insurer Mapfre posted a 4.1 percent increase in its total consolidated revenues last year, which reached €26.7 billion compared with €25.65 billion in the previous year.

The firm’s gross written premiums (GWP) and accepted premiums also increased by 2.3 percent in 2015 to €22.31 billion, compared with €21.82 billion in 2014.

Its GWP grew by 6.5 percent in Mapfre’s non-life sector last year to €17.44 billion. However, this was offset by the firm’s life sector, which posted a fall in GWP of 10.6 percent.

EMEA was the most successful region for GWP last year, with an increase of 53.9 percent, and North America fared the worst, with a fall in GWP of 31.9 percent in 2015.

Mapfre also suffered a 2.9 percent fall in its total assets for 2015, at €63.45 billion, compared with €65.42 billion in 2014 however. The firm’s managed savings fell by 7.1 percent and shareholders’ equity fell by 6.3 percent last year.

Results before tax and non-controlling interests and earnings per share fell last year by 15.4 percent and 16.1 percent, respectively.

“Revenues and premiums continue to grow, reflecting customers’ trust in Mapfre; but we have to take further steps to improve our efficiency and profitability,” said Antonio Huertas, MAPFRE’s chairman and chief executive officer (CEO).