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Company Announcement - 20 October 2016

MMS/CF/MSE01216

20 October 2016

The following is a Company Announcement issued by MAPFRE Middlesea plc, pursuant to the Listing Rules of the Malta Financial Services Authority.

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The Board of Directors of MAPFRE Middlesea plc hereby advices that based on the review of the Consolidated results as at 30 September 2016, it envisages that the net profit attributable to shareholders for the financial year ending 31 December 2016, will reduce when compared to that achieved in the previous financial year as a result that there will not be a repetition of the reinsurance cost saving adjustment carried in the financial statement of MSV Life plc, in 2015 and due to a deterioration in the technical performance of its Motor  class of  business.

The solvency position of MAPFRE Middlesea plc remains well above regulatory requirements.
 

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By Order of the Board

Carlo Farrugia
Company Secretary
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