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.
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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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