Mapfre shares at almost 8-yr highs boosted by Q1

Mapfre SA

25/04/2025 08:50

Corrects lead to say that profit increase was helped by development within car insurance, not a lack of natural disasters

** Shares of Spanish insurer Mapfre MAP.MC rise 8.7% to their highest since August 2017, after its Q1 net profit rose 28% y/y, helped by a recovery in its car insurance business

** Mapfre reports Q1 net profit at 275.9 million euros  ($313.59 million)

** "Q1 net income of 275.9 million euros, confirms very positive expectations for FY", a trader says

** The company adds it's on track with the implementation of its Strategic Plan 2024-2026 and raised its 2025-2026 average targets

** Shares top of Madrid's IBEX 35 .IBEX index and on track for best day in over four years

($1 = 0.8798 euros)

 (Reporting by Joao Manuel Mauricio)

 ((JoaoManuel.VicenteMauricio@thosonreuters.com))