Mapfre reiterated the scenario of H1 19 with better revenues (up 6.5% at current FX to €21,619m) but lower earnings (-12.5% to €463m). The insurer decided to revise the business outlook of MAPFRE ASISTENCIA’s companies in the UK, the US and Canada, leading to goodwill writedowns of €77m. If we take into consideration the impairments of December 2018, the net profut of the group would have been stable relative to 9M 18. The Solvency II ratio remained solid at 198%.
31 Oct 2019
Tough business context
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Tough business context
Mapfre SA (MAP:WBO) | 0 0 1.3% | Mkt Cap: 8,463m
- Published:
31 Oct 2019 -
Author:
Bassem Neifer -
Pages:
3
Mapfre reiterated the scenario of H1 19 with better revenues (up 6.5% at current FX to €21,619m) but lower earnings (-12.5% to €463m). The insurer decided to revise the business outlook of MAPFRE ASISTENCIA’s companies in the UK, the US and Canada, leading to goodwill writedowns of €77m. If we take into consideration the impairments of December 2018, the net profut of the group would have been stable relative to 9M 18. The Solvency II ratio remained solid at 198%.