MAPFRE wants its shareholders to have access to the information about the company – results, dividend payments, and relevant events. The Financial Newsletter provides a summary of the most important information about the Group during the period. You can also find the archive of previous newsletters, as well as fill out the form to sign up to receive the newsletter.
Results January – March 2018
MAPFRE consolidated revenue reached 7.3 billion euros, and attributable result reached 187 million euros.
Revenue January – March 2018
MAPFRE consolidated revenue reached 7.3 billion euros, with a reduction of 7.6 percent, mainly due to the depreciation of the main currencies, and the fall in financial returns. At a constant exchange rate, the variation would be -1.3 percent.
Premiums reached 6.2 billion euros, with a reduction of 7.2 percent, primarily due to the effect of currency depreciation and a discreet development of premium issuing in the following countries: Brazil, United States, Turkey and Chile. At a constant exchange rate, the variation in premiums would be -0.4 percent.
Revenue from investments reached 624.5 million euros, below the previous period, due to the recurrent low-interest rate environment in Europe and the fall in interest rates in Brazil and other LATAM countries, as well as lower financial gains.
Premiums January – March 2018
Non-Life premiums fell by 4.8 percent, while Life premiums receded 15.5 percent. By Non-Life business type, Automobile is the most important line, with 1.8 billion euros in premiums. General P&C holds second place, with 1.5 billion euros, and Health and Accidents is in third place with 741 million euros in premiums. At a constant exchange rate, the variation in premiums would be +2.2 percent in Non-Life and -9.6 percent in Life.
Combined ratio January – March 2018
The improvement in combined ratio is based on an excellent loss experience in Spain and MAPFRE RE, as well as positive behavior of agricultural insurance in Brazil, improved loss experience in LATAM NORTH and SOUTH, and improved loss experience in the GLOBAL RISKS business unit, which was very affected last year by claims with a high level of intensity. This favorable development limits the effect coming from the storms on the East coast of the United States.
Net result January – March 2018
The attributable result reached 187 million euros, decreasing by 9.3 percent, primarily due to:
- The fall in Life business results due to the decrease in allocated premiums, an increase in acquisition costs in Brazil, and a lower financial result. In the previous period, non-technical revenue included the cancellation of a provision for contingent payments in the bancassurance channel in Spain totaling 27 million euros, net of taxes.
- The fall in net financial income due mainly to the decrease in interest rates in Brazil and other LATAM countries, as well as the low-interest rate environment in Europe.
- The impact of the storms on the East coast of the United States.