Mapfre completed the sale of its New York operations announced in June 2018. This is part of the strategy to focus on core states and lines of business. The US business should continue to post weak operating performances in 2019-20 despite management’s efforts. The performance and the valuation of the Spanish company is largely driven by local and Brazilian operations.
04 Jan 2019
Achieving optimal scale in the US is still far off
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Achieving optimal scale in the US is still far off
Mapfre SA (MAP:WBO) | 0 0 1.3% | Mkt Cap: 8,463m
- Published:
04 Jan 2019 -
Author:
Bassem Neifer -
Pages:
3
Mapfre completed the sale of its New York operations announced in June 2018. This is part of the strategy to focus on core states and lines of business. The US business should continue to post weak operating performances in 2019-20 despite management’s efforts. The performance and the valuation of the Spanish company is largely driven by local and Brazilian operations.