Mapfre shares down 6% after H1 results, U.S. acquisition

Mapfre SA (MAPFRE) reported first-half 2025 results showing a 27.6% increase year-on-year, driven by strong performance across several business lines and regions. Premiums rose 5.4% to nearly €8.6 billion, with Non-Life premiums up 9.8% at constant exchange rates and Life premiums declining 1.5% due to currency effects. The combined ratio improved to 94.1%, reflecting cost containment and technical improvements, particularly in the Auto segment.

Despite these positive results, Mapfre shares fell 6% following the release of the half-year figures. Analysts attributed the decline to investor concerns over the company’s recent acquisition activities and exposure to currency fluctuations, particularly in Latin America. The company also announced a merger agreement with Safety Insurance Group, Inc., which has added uncertainty to its short-term financial outlook.

Mapfre’s ROE reached 11.7%, with shareholders’ equity standing at €8.4 billion, down 1.5% due to currency conversion effects. The IBERIA region contributed €121 million in net profit (+65.6%), while LATAM and NORTH AMERICA posted significant gains. The Solvency II ratio reported at 207.4% as of December 2024, indicating a strong capital position.

Chairman and CEO Antonio Huertas expressed confidence in the company’s future, citing the Strategic Plan and resilient balance sheet. Investors will be watching closely as Mapfre navigates its integration of new acquisitions and continues to manage currency and market volatility.