Mapfre Q1 profits climb 13.5%
Spanish insurer Mapfre has posted post-tax profits of €310.1m (£279.2m) for the first quarter of 2011 – a 13.5% increase on the figure for 2010.
The insurer, which attributed the result to a "sustained growth" in international business, also reported €5.1bn GWP (2010: €4.9bn) and dividends of 10.3c per share (2010: 9.3c).
The direct insurance international division posted a 16.9% increase in GWP from €1.6bn to €1.9bn, while the global business reported a GWP of €1.1bn (2010: €975.8m). GWP for the Spanish direct arm of the insurer decreased 6.1% to €2.5bn (2010: €2.6bn).
Meanwhile, the direct international unit profit surged 155.4% to €252.9 (€99m), while the Spanish direct arm and the global business gained profits of €308.7m (€329.6m) and €27.7m (€32.2m) respectively, both seeing profit decreases compared to Q1 2010.
As part of the results, Mapfre revealed that the impact of the earthquakes in Japan and New Zealand were likely to cost the company €64.1m.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
More on Personal
Winslow continues Direct Line management overhaul
Direct Line Group CEO Adam Winslow has continued his makeover of the insurer’s management team, appointing a new managing director of motor and chief strategy and investor relations officer.
Exploring the ethnicity penalty in insurance
As the insurance industry is once again accused of discriminating against individuals living in ethnically diverse areas, Aamina Zafar considers whether providers should do a better job of demonstrating racism isn’t a factor in pricing policies.
Amanda Blanc, Aviva
Amanda Blanc, CEO of Aviva Group, influenced some of the biggest changes in corporate Britain in 2023, winning her the top spot in Insurance Post’s Power List for the second year in a row.
Matthew Crummack, Domestic & General
Matthew Crummack was appointed CEO of the Domestic & General Group in 2021 and is making sure the provider reduces the amount of waste in landfills.
Insurance Post Power List 2024’s Top 10 Podcast
To find out who made it into the Top 10 of Insurance Post’s Power List for 2024, make sure you listen to the latest Insurance Post Podcast.
Mass’s Sue Brown on why the whiplash tariff should be reviewed annually
Trade Voice: Sue Brown, chair of the Motor Accident Solicitors Society, says annual reviews need to be introduced at the earliest opportunity to address the perhaps irreparable damage done by the 2018 reforms.
Kevin Spencer, Markerstudy
Kevin Spencer, chief executive of Markerstudy Group, has big ambitions and his ability to do massive deals in 2023 sees him leap up 21 places in this year’s Insurance Post Power List.
Steve Hardy, Policy Expert
Since Steve Hardy joined Policy Expert as the organisation’s chairman and CEO at the start of 2022 he has quickly grown the business to have more than 1.5 million UK customers.
Most read
- Movers and shakers who made Insurance Post’s Power List 2024 revealed
- Has the Biba Conference shed its ‘Butlin’s for Brokers’ reputation?
- Former colleagues pay tribute to David Sweeney