Mapfre premiums up 15.5 percent in 2011

Spanish insurance group Mapfre have announced a 15 .5 percent increase in gross written premiums in 2011 to €19.6 billion, in comparison with €16.9 billion in 2010.

Mapfre also reported that revenues increased 14.9 percent, to €23,530.3 million, due to the favourable development of the domestic business, as well as to the excellent development of the international business, which experienced a premiums growth of 21 percent.

The group’s net income was €963 million, which represented a 3.2 percent rise on the previous year.