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Mapfre raises earnings by 18.7% to euro 790.5mn

On a constant currency basis, premiums and earnings would have grown by 8.1 percent and 26.3 percent respectively.

February 12, 2014 9:53 IST | India Infoline News Service
Mapfre’s Chairman and CEO, Antonio Huertas, today presented the Group’s results, which show a rise in attributable profit of 18.7 percent to 790.5 million euros, thanks to the geographical diversification of the business, which underpins the company’s solidity. Revenues exceeded 25,889 million euros, a rise of 2.3 percent on 2012, with premiums growing 1.2 percent to 21,835.5 million euros.
The year was characterized by the appreciation of the euro against all other currencies. On a constant currency basis, premiums and earnings would have grown by 8.1 percent and 26.3 percent respectively.
Shareholders’ equity stood at 7,833.5 million euros, an increase of 0.3 percent, and total managed assets amounted to 66,048 million euros, representing a 2.2 percent rise over the last twelve months.
“These are very positive results, given the current domestic and international environments in which they have been achieved, and reflect not only MAFPRE’s strength, but more importantly the Group’s capacity to adapt accordingly in all the markets in which it operates”, stated Mr. Antonio Huertas, who went on to add that “MAPFRE is currently in the best position to lead the economic recovery”.

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