Mapfre slides as 'mixed' H1 results, US acquisition fail to impress

Safety Insurance

24/07/2026 10:00

** Shares in Spain's insurer Mapfre MAP.MC fall nearly 5% after Thursday's release of first-half results and its $1.54 billion acquisition of U.S.-based Safety Insurance SAFT.O
** Renta 4 says the results showed a "mixed reading" with total premiums matching its estimates but falling 4% short of market consensus
** It adds non-life gross premiums also fell below consensus estimates
** Bestinver notes that while regions like Iberia and Brazil beat estimates, negative results in Latin America and the "never ending story of EMEA" drove a broadly in line set of results
** It also questions whether the auto deterioration implies the firm is frontloading a potential uptick in auto parts inflation or if this is already materialising 
** Bestinver adds the U.S. transaction "does not appear to be overly accretive"
** GVC Gaesco says results lacked global surprises but showed regional lights and shadows, with Iberia, North America and Mapfre Re as the bright side while EMEA and Latam as the downside 
** Shares on track for their worst day since January
     

(Reporting by Marta Serafinko in Gdansk)
((marta.serafinko@thomsonreuters.com))