Standard & Poor’s improves MAPFRE’s rating outlook as it makes progress in earnings and capital 

The Standard & Poor’s (S&P) ratings agency has upgraded the outlook for the MAPFRE Group’s rating from Stable to Positive and has confirmed its status as issuer as A-. This improvement in the outlook for the Group’s main companies is based on confidence that it will maintain current capital levels and that earnings generation will continue to be “solid and diversified”, as per a note issued by S&P. 

The ratings company stated that it expects profitability levels to remain stable over time with low volatility, thanks to the “improvement of underwriting standards across all segments,” including Spain, the USA, Brazil, and several Latin American countries, as well as in MAPFRE’s global units, specifically the Reinsurance Unit and the Global Risks Unit. S&P has also reaffirmed the issuer and financial strength ratings of MAPFRE RE as A+. 

Another point mentioned by the ratings agency was the “broad diversification of countries and lines of business”, leading the MAPFRE Group to deliver “very solid results, especially in 2024 and the first quarter of 2025”, which has contributed to reducing volatility “by mitigating the risks posed by the difficult environment.” 

In the face of the difficulties posed by the “difficult inflationary environment”, S&P also points out that MAPFRE has been able to cope in recent years by “selectively adjusting prices and maintaining underwriting discipline.” 

The ratings agency maintains that the Group’s results “will remain solid,” with “comparatively low volatility compared to its counterparts.”