largest growth In europe

MAPFRE Middlesea registers largest growth across MAPFRE operators in Europe

MAPFRE Middlesea had the highest increase in premium volume in the last nine months when compared to the other countries in Europe in which MAPFRE operates.

MAPFRE’s revenues totaled €1,339 million in the EMEA (Europe, Middle East and Africa) region in the first nine months of 2015, up 45.9% on the same period last year, driven by the significant growth in Malta up 51.6% to 188 million Euros. The United Kingdom had a growth of 23.7% to 218 million Euros while Turkey had a growth of 22.8% to 512 million Euros.

The Direct Line operations in Italy and Germany have been consolidated since June, following MAPFRE’s acquisition of Direct Line in both countries. Combined, they have contributed €207 million in premiums within four months. MAPFRE posted nine-month premiums of €175 million in Italy and €88 million in Germany, including Global Risks and Assistance operations.

MAPFRE EMEA includes 19 countries from Europe, Middle East and Africa. The region contributes 7.2% of MAPFRE’s global premiums. Pre-tax profit stood at €35 million through September 2015.

MAPFRE’s revenues totaled 20,587 million Euros between January and September of 2015, a 6.8% rise on the same period of the previous year, while premiums increased by 5.4% , to 17,341 million Euros. The highest growth was registered in non-life policies and reinsurance.

Pre-tax profits amounted to 1,162 million Euros, down 16% on the first nine months of the previous year, with net profits reaching 591 million Euros.

MAPFRE Middlesea p.l.c. (C-5553) is authorised by the Malta Financial Services Authority to carry on both Long Term and General Business under the Insurance Business Act, 1998.

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