Mapfre profits hit by COVID-19 claims, heavy nat cat and economic contraction

Re/insurer Mapfre's revenues and earnings in the first nine months of 2020 were dragged down by the influx of claims related to COVID-19, elevated nat cat losses and currency depreciation across many of the main countries in which it operates. Spain, however, contributed the most to the group's results, recording a profit of €328 million.