Spanish insurer Mapfre reported on 28 October a net profit of €924m for January to September 2026, up from €829m a year earlier. Premiums grew 2.0% to €22.8bn, or 0.7% at constant exchange rates. Life premiums rose 5.0% and non-life premiums 1.1%. Return on equity reached 12.8%.
The non-life combined ratio deteriorated to 93.5% from 92.6%. The largest single event was the August earthquake in Colombia, which Mapfre estimates cost the group €83m after tax and minorities. Storms in Portugal and Spain in February and an earthquake in Venezuela in June also had an effect. Accident and health ran at 100.0%, with higher claims costs in Mexico, while auto improved to 99.0%.
Mapfre Re, which combines reinsurance and global risks, earned €286m, 11.8% more, but its combined ratio rose 1.5 points to 95.3%. Its premiums slipped 0.4% to €6.3bn, which the group links to falling reinsurance and insurance rates. The Colombian earthquake alone had an attributable impact of about €75m on the unit.
By region, profit in Iberia rose 19.0% to €413m and North America reached a record €112m. Latin America fell 10.7% to €303m, and the EMEA region posted a €2.4m loss after reserve strengthening in Italy. Mapfre says a strong financial result supported profit, including significant realised gains when it reduced portfolio risk.
The board approved an interim dividend of 8.0 euro cents a share, payable on 26 November. The purchase of US insurer Safety Insurance is on track to close in the first quarter of 2027, after a Safety shareholder meeting on 3 November and approvals from Massachusetts regulators.
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Mapfre ↗Company · 28 Oct 2026
This is an original brief based on the linked publication. Company statements and forecasts are attributed to their source.
