Insurance Post

Chile - Mapfre expands Mapfre

Spain's largest insurance group, is increasing its presence in Chile to 150 offices by 2009 (from 50 in late 2005) with an investment of EUR56.5m (roughly $70m), as per similar steps in Argentina and Brazil.Mapfre's premium income in Chile during HY1 2005 was EUR52.m, 1.2% more than in 2004, with a profit of EUR1.3m, 35% less than in 2004.