Mapfre released better than expected net profit, decreasing by only 9.7% to €700m under the weight of the Nat Cat impact (€157m). However, the dividend was kept at €0.145/share. The Spanish insurer also announced the signature of a new framework for the partnership with Banco do Brasil allowing it to control 100% of the Motor and Large Risk business in the bancassurance channel, while maintaining exclusivity for the distribution of products in the bank channel.
09 Feb 2018
The worst is behind
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The worst is behind
Mapfre SA (MAP:WBO) | 0 0 1.3% | Mkt Cap: 8,463m
- Published:
09 Feb 2018 -
Author:
Bassem Neifer -
Pages:
3
Mapfre released better than expected net profit, decreasing by only 9.7% to €700m under the weight of the Nat Cat impact (€157m). However, the dividend was kept at €0.145/share. The Spanish insurer also announced the signature of a new framework for the partnership with Banco do Brasil allowing it to control 100% of the Motor and Large Risk business in the bancassurance channel, while maintaining exclusivity for the distribution of products in the bank channel.