Spanish insurer Mapfre posts 9.4% profit rise to €624 million in H1

Mapfre reported a net profit of €624 million for the first half of the year, a 9.4% increase over the same period last year. Revenue grew 1.5% to €19.007 billion and the volume of policies rose 1.1% to €16.130 billion.

In the Iberian Peninsula, profit reached €279 million, up 16.6%, while the value of policies there slipped 0.5% to €5.978 billion. The insurer said the recent earthquake in Venezuela would cost at least €24.8 million, and it also faced losses linked to February storms in Portugal and Spain. Mapfre projected a record net profit of €1.079 billion for 2025, 19.6% higher than the previous year.