MAPFRE has reported that MAPFRE RE, which encompasses its Reinsurance and Global Risks businesses, posted a profit of €256 million for the first nine months of 2025, a 23.6% increase compared to the same period last year.
MAPFRE RE reported a total combined ratio of 93.8% for the first nine months of 2025, improving by 1.8 percentage points, while maintaining a strong focus on reserving prudence.
“In the absence of significant claims in the third quarter, the most relevant event continues to be the California wildfires in January,” the firm said.
Meanwhile, MAPFRE RE’s premiums amounted to nearly €6.4 billion in the first nine months of 2025, up 1.3% from the same period of 2024.
This includes the Reinsurance business, with almost €5 billion in premiums, and the Global Risks business, with €1.4 billion.
Group-wide, MAPFRE’s net result rose 26.8% to €829 million in the first nine months of 2025.
The firm reported total written and accepted premiums of €22.38 billion, up 3.5% year on year, driven primarily by strong growth in the Life segment.
Life premiums increased 9.7% to €5.08 billion, supported by a 24.1% rise in Life Savings and a 9.2% increase in Life Reinsurance, partly offset by a 4.5% decline in Life Protection.
Non-Life premiums edged up 1.8% to €17.30 billion, with Accident & Health leading growth at +4.9%, while General P&C slipped 2.6%.
The Non-Life combined ratio improved by 2.2 percentage points to 92.6%, reflecting a better loss ratio of 65.1%.
It is worth noting that MAPFRE’s results for the period were affected by a €78.6 million partial goodwill write-down in Mexico and the derecognition of deferred tax assets in Italy and Germany.
Without these effects, the net result would reportedly stand at €908 million.
Antonio Huertas, Chairman of MAPFRE, commented, “In line with the Strategic Plan, we have once again achieved profitable growth across all regions and business lines this quarter. The company’s solid performance allows us to increase the dividend to be paid to shareholders for the fourth consecutive time.”
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