Mapfre
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The reinsurance unit’s combined ratio for the quarter was 94.2%. -
The California wildfires were the only “relevant event” for the period, the carrier said.
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The Dana floods in Valencia resulted in a EUR34mn net impact at group level.
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Over the period, the Spanish carrier’s reinsurance segment expanded profit by almost 10% year on year.
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The carrier booked a EUR41mn impact from Brazilian flooding.
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The carrier’s reinsurance segment doubled its net result to EUR67mn.
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The carrier will aim for a combined ratio of 95%-96%.
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The move followed efficiency considerations and the current state of the Chilean market.
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Mapfre recorded a net result of EUR677mn, a 20% increase on the year prior.
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The carrier also made several other senior leadership changes across many of its business units.
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The reinsurance segment of the carrier expanded premium by almost 10%.
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The reinsurance unit’s combined ratio improved to 95.8% from 96.4% in June 2022.
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