Mapfre

Mapfre Re avoids retro renewal price hikes despite “dependence”

Mapfre Re managed to avoid any major retrocession price increases at 1 January with the platform’s CEO Eduardo Pérez de Lema highlighting that his company’s counterparties have not faced a claim from his firm since 2011.

Mapfre profits from life but cats dent P&C reinsurance

Madrid-headquartered (re)insurer Mapfre saw its group net profit climb 15.2 percent in 2019 to beat analysts’ expectations despite deteriorating results in its core reinsurance and special risks division.

Mapfre issues profit warning as pegs Japanese typhoons and Chile riots Eur140mn

Spanish (re)insurance giant Mapfre has warned investors it will have to revise its 2019-2021 strategic plan as it expects to suffer losses as high as Eur140mn ($156mn) stemming from Japanese typhoons Faxai and Hagibis as well as recent disturbances in Chile.

S&P upgrades Mapfre on restructure and diversification

Rating agency Standard & Poor’s has upped the credit rating assigned to Spanish giant Mapfre Group, citing “effective implementation of restructuring measures” which “enhances the Group’s underlying earnings diversification and competitiveness.”

Mapfre Re H1 profit slides 30%

Mapfre Re – which comprises the Spanish carrier’s reinsurance business as well as its specialty insurance arm, Global Risks – reported net earnings of Eur84.9mn ($94.5mn) in the first six months of the year, down 29.6 percent on the same period in 2018.

Mapfre and China Re collaborate on Belt and Road project insurance

Spanish (re)insurer Mapfre and Hong Kong-listed carrier China Re have penned an agreement to collaborate on insuring investments related to China’s Belt and Road Initiative (BRI).

Mapfre’s Q1 top and bottom line inch up while reinsurance unit drags

Spanish (re)insurer Mapfre has reported a 3.3 percent uptick in gross written premium coupled with a 5.8 percent rise in its total consolidated revenue in the first quarter of 2019, with growth in its home nation a key driver.

Mapfre’s earnings shed 25% as goodwill writedown hits bottom line

Mapfre saw its earnings fall nearly 25 percent in 2018 as catastrophe losses, currency depreciation and a massive prior year goodwill writedown negatively impacted results but the Spanish (re)insurer received praise from analysts for its underlying performance.

Munich Re incurs major Ituango dam loss

Munich Re has incurred a substantial Ituango dam loss despite not being on original placement and was the principal reason for missing a Q2 P&C consensus earnings target by almost Eur300mn, Re-Insurance can reveal.

Mapfre invests $28.5mn in Madrid-based tech venture fund

Spanish (re)insurer Mapfre is to invest EUR25mn ($28.5mn) in Madrid-based B2B tech venture fund Alma Mundi Insurtech Fund.

Mapfre nine-month profit jumps 19 percent despite shrinking premium

Spanish (re)insurer Mapfre has reported EUR 528.8mn ($604.8mn) net earnings for the first nine-months of the year – an increase of 18.9 percent from the same period in 2017.

Mapfre restructures and shrinks global risk business MGR

Mapfre has reconfigured its global operations, with its commercial (re)insurance arm – Mapfre Global Risk (MGR) – largely being split up and transferred to other business units.

Mapfre top line shrinks as specialty premiums slump

Spanish (re)insurer Mapfre has reported revenue of EUR7.26bn ($8.77bn) in the first quarter, down 7 percent from EUR7.85bn in the first three months of 2017.

Mapfre books $1.3bn gross cat losses in Q3

Spanish (re)insurer Mapfre has posted gross cat losses of $1.3bn (€1.1bn) in the third quarter.

Investor relief on Mapfre Maria loss

Spanish (re)insurance group Mapfre has seen its under-pressure share price climb this morning after pegging its storm losses from Hurricanes Harvey, Irma and Maria at EUR176 net of reinsurance and retro recoveries.