Mapfre fattens bottom line in H1 as LatAm shines
Spanish insurance giant Mapfre - which wears the crown of the biggest non-life insurer in Latin America - saw overall net earnings increase 9.1% year-on-year to 415mn euros (US$483mn) in H1.
Latin America posted the fastest pace of premium growth: 22.4% over the period to 4.47bn euros.
In terms of markets within the region, Brazil posted premium growth of 13.9% to 2.38bn euros, LatAm North 73.4% to 1.20bn euros and LatAm South 2.4% to 895mn euros.
Mapfre's LatAm business unit accounted for 31.1% of total premiums and 23.3% of overall earnings, or 115mn euros, up 4.1%.
Globally, H1 total written and accepted non-life premiums were 10.3bn euros, up 7.8%, and written and accepted life premiums were 2.82bn euros, up 9.7%.
The non-life combined ratio was 97.2% down 0.4 percentage points, Mapfre said in a results report.
Negative claims developments in H1 include a coastal El Niño event that struck Peru and flooding and forest fires in Chile. The El Niño event had a negative impact of 57.6mn euros on net earnings, Mapfre said.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Political Risk & Macro (Chile)
Governance issues undermining Chile’s ability to combat wildfires
Sub-national authorities are ill equipped both to apply regulatory changes that could prevent or mitigate future bushfires, experts said at a wildf...
Chile’s political seesaw: Regional elections hint at a balancing act for 2025
A year before Chile's next presidential election takes place, a new political landscape is taking shape in the country. BNamericas speaks with Migu...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects
Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.
- Project: La Herradura I wind park
- Current stage:
- Updated:
2 days ago
- Project: Modernization of the Port of Acajutla
- Current stage:
- Updated:
2 days ago
- Project: Livílcar dam
- Current stage:
- Updated:
2 days ago
- Project: Arenal Solar Plant
- Current stage:
- Updated:
2 days ago
- Project: Jauru (Mirassol D'Oeste)
- Current stage:
- Updated:
2 days ago
- Project: Kairós Wind 1 wind farm (Kairós wind complex - Phase I)
- Current stage:
- Updated:
2 days ago
- Project: El Estanquillo - Popayan Road Corridor
- Current stage:
- Updated:
2 days ago
- Project: Pumped Storage Hydroelectric in Paute Integral Hydroelectric Complex
- Current stage:
- Updated:
2 days ago
- Project: Photovoltaic Plant Mauriti 8 (Complejo Fotovoltaico Mauriti)
- Current stage:
- Updated:
2 days ago
- Project: Mauriti 5 photovoltaic plant (Mauriti photovoltaic complex)
- Current stage:
- Updated:
2 days ago
Other companies
Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.
- Company: Mantoverde S.A. (Mantoverde)
-
Mantoverde S.A. is a Chilean mining company, subsidiary of Mantos Copper S.A., which is dedicated to the exploration, extraction, exploitation and production of minerals and con...
- Company: KPMG Asesores S. Civil de R. L. (KPMG Perú)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Coral Energía
-
The description contained in this profile was extracted directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine...
- Company: Fomento de Construcciones y Contratas, S.A. (FCC)
-
Spanish construction company Fomento de Construcciones y Contratas, S.A. (FCC) specializes in environmental services and water management, and construction of large infrastructu...
- Company: Liebherr Argentina S.A. (Liebherr Argentina)
-
The description contained in this profile was extracted directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine...
- Company: Su Transporte, S.A. de C.V. (Grupo TyT Transportes y Traslados)
-
The description contained in this profile was extracted directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine...
- Company: Municipalidad Provincial de Yungay
- Company: Minera Quinchía S.A.S. (Minera Quinchía)
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
