Global insurer MAPFRE saw total written premiums grow by 6.2% in the first half of the year, the company has announced. Its reinsurance arm, MAPFRE RE, saw premiums grow by more than 11%.
In Spain, MAPFRE posted a year-over-year written premium increase of 6.9%, surpassing €4.2 billion (about $4.96 billion). In its Latin America North region, written premium spiked by 51.9%, hitting nearly €1.35 billion. However, North America posted a drop of 8.1%.
|
Region/business unit |
Written Premiums (approximate) (in euros) |
||
|
June 2020 |
June 2021 |
Change |
|
|
Iberia |
3.98 billion |
4.25 billion |
+6.9% |
|
LatAm North |
886.6 million |
1.347 billion |
+51.9% |
|
LatAm South |
726.8 million |
756 million |
+4% |
|
Brazil |
1.612 billion |
1.596 billion |
-1% |
|
North America |
1.116 billion |
1.025 billion |
-8.1% |
|
Eurasia |
775.8 million |
737.7 million |
-4.9% |
MAPFRE is the largest Spanish insurer in the world, the top multinational insurance company in Latin America, and the sixth-largest non-life insurer in Europe by premium volume.
Read next: MAPFRE makes huge earnings forecast for 2021
The company has 19 offices across the world, employs 34,000 people and services 29 million clients.
Last year, MAPFRE posted net earnings of €526.5 billion, with group revenues of €25.42 billion and a combined ratio improvement of nearly 3% to 94.8% despite the impact of the COVID-19 pandemic.
