Mapfre Re Q3 underwriting profit slumps 60% as cat losses hit hard

29 October 2021

Third-quarter profit at Mapfre Re slumped by 60% compared with the same period last year, primarily as a result of several cat claims, with Storm Bernd in Europe having an attributable net impact of EUR92.4mn ($107.5mn) on the company’s results over the period.

Bottom line: Q3 profit fell to EUR12.6mn, while group profit also dropped slightly to EUR160.4mn.

However, for the total nine-month period, Mapfre Re made a net attributable profit of EUR95.4mn,

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