A tough start into the year for Mapfre, which could potentially be industrial to a certain degree. The firm’s high exposure to motor, coupled with substantial inflation across geographies, proved to be the main killer of the firm’s profitability. The strategic plan’s “aspirational” objectives (defined before the Ukraine war) are so far confirmed, which is reassuring, although potential doubts exist on the Combined ratio objectives.
29 Apr 2022
Recovery cut short
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Recovery cut short
- Published:
29 Apr 2022 -
Author:
Grégoire Hermann -
Pages:
3
A tough start into the year for Mapfre, which could potentially be industrial to a certain degree. The firm’s high exposure to motor, coupled with substantial inflation across geographies, proved to be the main killer of the firm’s profitability. The strategic plan’s “aspirational” objectives (defined before the Ukraine war) are so far confirmed, which is reassuring, although potential doubts exist on the Combined ratio objectives.