The Mapfre Group said its profits increased by 18.7 per cent to €790.5 million in 2013, thanks to the geographical diversification of the business, which underpins the company’s solidity.

Revenues exceeded €25.9 billion, a rise of 2.3 per cent on 2012, boosted by the international division with premiums growing 1.2 per cent to €21.8 billion. Shareholders’ equity stood at €7.8 billion, an increase of 0.3 per cent, and total managed assets amounted to €66 billion, representing a 2.2 per cent rise over 2012. The year was characterised by the appreciation of the euro against all other currencies. On a constant currency basis, premiums and earnings would have grown by 8.1 per cent and 26.3 per cent respectively.

The group raised its total dividend against the 2013 results by 18 per cent to €0.13 per share.

Mapfre is represented in Malta by Middlesea Insurance, a member of the Mapfre Group.

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