Spanish insurer Mapfre's net profit rises on lack of major natural disaster

Mapfre SA

25/04/2025 07:37

Corrects headline and paragraph 1 to show reason for profit increase was car insurance, not a lack of natural disasters

April 25 (Reuters) - Spanish insurer Mapfre MAP.MC said on Friday its net profit in the first quarter rose 28% as a recovery in its car insurance business offset costs associated with wildfires in California.

The company's net profit increased to 275.9 million euros  ($312.54 million), compared with 216.3 million euros in the same period of the previous year, while premiums rose to 8.58 billion euros.

Mapfre will pay a final gross dividend against 2024 of 0.095 euro per share on May 29.

($1 = 0.8828 euros)

 (Reporting by Marta Serafinko and Mireia Merino in Gdansk
Editing by Inti Landauro and David Goodman
)

 ((Marta.Serafinko@thomsonreuters.com;))