MAPFRE’s net earnings for the first nine months of 2018 amounted to €529 million, up 18.9 per cent on the same period of the previous year. Meanwhile, the revenue generated was of €20.3 billion euros (down 4.7 per cent), while premiums totaled to €17.22 billion.
In Malta, represented by MAPFRE Middlesea and MAPFRE MSV Life, volume stood at €306 million, an increase of 9.8 per cent, despite the decrease in premiums across the Euroasia Regional Area.
The Group's combined ratio improved by 0.7 percentage points to reach 98.1 per cent, while the solvency ratio at the end of June stood at 201.7 per cent. Equity amounted to almost €9.8 billion, while shareholders’ equity totaled €8.27 billion at the end of September 2018. Total assets came to €67.89 billion.
Group investments at the close of the first nine months of the year totaled €49.88 billion euros, with 54.4 per cent concentrated in sovereign debt and 18.7 per cent in corporate fixed income.
MAPFRE has displayed impressive resilience and strength in weathering sharp currency depreciations across many of the countries in which it operates, coupled with a notable reduction in financial income due to the prevailing climate of low interest rates.
Business in Spain remains the main growth driver for MAPFRE, while a significant contribution was made by MAPFRE RE and the Regional Areas of Latin America as well as MAPFRE Global Risks and MAPFRE Assistencia.
MAPFRE Middlesea p.l.c. and MAPFRE MSV Life p.l.c. are authorised and regulated by the MFSA.