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Insurance News and Announcements

MAPFRE Malta registers Group profit of €14.29 million after tax in 2020

MAPFRE Middlesea p.l.c., as a standalone Company, registered a turnover of €75.12 million in gross premium written, a 1.0% increase over FY2019 registering a marginal increase in its market leadership share. In a year dominated by the COVID-19 pandemic, premium growth was severely depressed, with the market only marginally increasing in volume as economic activity slowed down. Technical results improved over previous year as the near lockdown months and the lack of tourist visiting the island affected favourably the claim frequency particularly in Motor. Fewer large losses occurred during the year with a lower effect on results compared to the previous year.

MAPFRE Malta switches off the lights during Earth Hour

This year, MAPFRE Malta have once again joined the World Wide Fund for Nature initiative of Earth Hour, which is renowned for being the largest mobilization campaign against climate change. The event took place on Saturday, March 27 between 8:30 p.m. and 9:30 p.m.

MAPFRE Group celebrate International Women’s Day

As part of this year’s celebration of International Women’s Day, MAPFRE Group organised an online panel discussion for its employees with the aim to address the importance of work-life balance, as well as the challenges and implications posed towards the latter during COVID-19.

MAPFRE Malta reinforce its commitment towards corporate social responsibility during Coronavirus pandemic

Despite the challenging times caused by the COVID-19 pandemic, MAPFRE Malta has remained committed to its corporate social responsibility objectives, namely to protect the health of its employees, collaborators, clients, and other individuals and entities who were negatively affected by the COVID-19 crisis; and its commitment to the implementation of several social welfare projects carried out by Fundación MAPFRE throughout 2020.

Fundacion MAPFRE sponsors therapeutic facility at Inspire Foundation

For the fourth consecutive year, Fundacion MAPFRE has partnered up with Inspire Foundation, through a generous donation that will allow specialised services for children and adults with a disability to continue. The sum of €53,000 has been contributed to cover the running costs of one of Inspire’s therapeutic facilities - the Multi-Sensory Rooms (MSR).

MAPFRE Malta holds its 39th Annual General Meeting

During 2019, MAPFRE Malta, comprising of MAPFRE Middlesea and MAPFRE MSV Life, registered a profit before tax of €20.1 million, 8.2% higher when compared to the previous year. After tax, the Group generated a profit of €15.5 million, 10.5% higher than the previous year. The total assets of the Group increased by 12.8% and totalled €2.62 billion. These results were announced by MAPFRE Middlesea Chairman Martin Galea during the Group’s 39th Annual General Meeting, which was streamed live on the company’s website on the 27th October.

MAPFRE reinforces management teams in its principal markets

MAPFRE has approved a broad renewal of its management teams in order to advance its strategic objectives and strengthen its capacities in the main regions where it currently operates. The preliminary objective is to strengthen the Group’s ability to respond effectively to both economic and social challenges within a complex global context.

MAPFRE Malta shows agility in their Business Training during COVID-19

The MAPFRE Malta business training programme for 2020 was originally planned as classroom training. However, due to the extraordinary circumstances presented by the Coronavirus, they had to be creative and agile by revamping their training programme in its entirety to online training. This was only possible due to the excellent teamwork that is prevalent within the Group along with the great partnership offered by PwC in terms of both training coordination and communication to the MAPFRE Sales Network. MAPFRE Malta is comprised of MAPFRE Middlesea and MAPFRE MSV Life.

MAPFRE Malta contribute towards World Blood Donor Day 2020

This month, several employees from MAPFRE Malta, which is comprised of MAPFRE Middlesea and MAPFRE MSV Life, will be celebrating World Blood Donor Day by donating blood towards the National Blood Transfusion Unit (NBTU). MAPFRE Malta recognise the universal need for safe blood, which time after time has played a critical role in both treatments and urgent interventions. Thus, the company will do their part in helping ensure that a safe and sustainable blood supply is readily available for those who need it.

MAPFRE Malta supports refugee community during Ramadan

MAPFRE Malta recently made a contribution of food items consumed during the period of Ramadan by members of the local refugee community in Malta. The initiative was coordinated by TAMA, a mental health service provider dedicated towards providing aid to vulnerable communities in Malta..

MAPFRE collaborate with Puttinu Cares

In February, MAPFRE, which is comprised of MAPFRE Middlesea and MAPFRE MSV Life, showed their support towards the patients at the Rainbow Ward in Mater Dei Hospital by organising an event for them in collaboration with Puttinu Cares.

MAPFRE's revenues grow by 6.5% to €21.62 billion

MAPFRE's revenues in the first nine months of the fiscal year rose to 21.62 billion euros, representing a 6.5 percent increase on the same period of the previous year, with premiums growing by 2.5 percent to 17.65 billion.

MAPFRE team up with BirdLife Malta for Habitat Restoration

Following the successful event of MAPFRE’s Global Volunteering Day held in October, the company continued to strengthen its commitment towards environmental sustainability by teaming up with BirdLife Malta in order to aid restoration of sand dune habitats. Josianne Briffa, Chief Compliance Officer of MAPFRE MSV Life, organised this event in collaboration with BirdLife Malta.

Fundacion MAPFRE supports Inspire Foundation

The Multi-Sensory Rooms at Inspire Foundation are being sponsored once more by Fundacion MAPFRE, a non-profit institution within the MAPFRE Group. The generous sum of €51,000 was contributed to cover the running costs of this service for the upcoming year, through which hundreds of children benefit.

MAPFRE Malta implement new Behavioural Training as part of their Global #DigitalChallenge

MAPFRE Malta implement new Behavioural Training in conjunction with the MAPFRE Global #DigitalChallenge. This behavioural training is being facilitated within the framework of MAPFRE’s strategic initiative and commitment towards digital transformation. Training, which comprises of an overall of 9 sessions of 7 hours each, has been delivered to over 300 employees across MAPFRE Middlesea, MAPFRE MSV Life and MAPFRE Middlesea Assist. Additionally, 2 more sessions are being delivered to the leaders of the aforementioned companies, consisting of training up to 12 hours for all Managers and Senior Managers within those entities.

30,000-euro prize on offer from Fundación MAPFRE for an innovative, global project to help boost insurance activity

Fundación MAPFRE gives recognition to scientific work in fields related to insurance and social protection. With a total of 30,000 euros on offer. Deadline of May 31. General principles available at www.fundacionmapfre.org.

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