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.
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