FY 18 Mapfre’s revenues declined by 5% to €26,589m, driven by the Non-Life premiums’ drop (-6% to €17,060m). The negative trend in emerging currencies was damaging to the insurer. The Life business posted a 2.8% increase in sales, but the division’s earnings declined 5.3% yoy to €681m. Net profit decreased by 24.5% to €529m. The ongoing restructuring process has negatively impacted the FY 18 earnings, but the dividend was kept at the expected level.
08 Feb 2019
Restructuring has a cost
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Restructuring has a cost
Mapfre SA (MAP:WBO) | 0 0 1.3% | Mkt Cap: 8,463m
- Published:
08 Feb 2019 -
Author:
Bassem Neifer -
Pages:
3
FY 18 Mapfre’s revenues declined by 5% to €26,589m, driven by the Non-Life premiums’ drop (-6% to €17,060m). The negative trend in emerging currencies was damaging to the insurer. The Life business posted a 2.8% increase in sales, but the division’s earnings declined 5.3% yoy to €681m. Net profit decreased by 24.5% to €529m. The ongoing restructuring process has negatively impacted the FY 18 earnings, but the dividend was kept at the expected level.