MAPFRE holds on to its rank as one of the top 10 insurance companies in Europe in the 2015 edition of the annual list. The premium revenue of the 10 largest European insurance groups grew 7.8% in 2015 compared with the previous year, climbing to €483,479 million. In Malta, MAPFRE is represented by MAPFRE Middlesea.
This growth was achieved in a context fraught with difficulties and uncertainties in the global economic environment. One factor that clearly impacted the financial results of these groups, in terms of both revenues and earnings, was the fluctuation in the different exchange rates. This was particularly significant in 2015, most notably as a result of the depreciation of the euro and the Latin American currencies against the U.S. dollar and the British pound.
This is the 12th edition of the ranking, and the first one compiled by the MAPFRE Studies Service for Fundación MAPFRE, which also published the ranking of the largest Non-Life insurance companies in Europe, in which MAPFRE occupies the sixth position.
As a last point to note, nearly all the groups analyzed in the study either increased or maintained their solvency ratio in 2015, and they all have adequate levels of capitalization and financial strength.
MAPFRE is a case in point, boasting the highest solvency margin (expressed as the number of times by which a group exceeds its mandatory solvency) of the main European groups.
MAPFRE Middlesea (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.