MAPFRE Middlesea had the highest increase in premium volume in the last nine months when compared to the other countries in Europe in which MAPFRE operates.
MAPFRE’s revenues totaled €1,339 million in the EMEA (Europe, Middle East and Africa) region in the first nine months of 2015, up 45.9% on the same period last year, driven by the significant growth in Malta up 51.6% to 188 million Euros. The United Kingdom had a growth of 23.7% to 218 million Euros while Turkey had a growth of 22.8% to 512 million Euros.
The Direct Line operations in Italy and Germany have been consolidated since June, following MAPFRE’s acquisition of Direct Line in both countries. Combined, they have contributed €207 million in premiums within four months. MAPFRE posted nine-month premiums of €175 million in Italy and €88 million in Germany, including Global Risks and Assistance operations.
MAPFRE EMEA includes 19 countries from Europe, Middle East and Africa. The region contributes 7.2% of MAPFRE’s global premiums. Pre-tax profit stood at €35 million through September 2015.
MAPFRE’s revenues totaled 20,587 million Euros between January and September of 2015, a 6.8% rise on the same period of the previous year, while premiums increased by 5.4% , to 17,341 million Euros. The highest growth was registered in non-life policies and reinsurance.
Pre-tax profits amounted to 1,162 million Euros, down 16% on the first nine months of the previous year, with net profits reaching 591 million Euros.
MAPFRE Middlesea p.l.c. (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.