Insurtech Insights
MAPFRE Reports Strong 2024 Results with €992 Million Profit and Dividend Increase
MAPFRE Reports Strong 2024 Results with €992 Million Profit and Dividend Increase
MAPFRE has reported €992 million in net profit for 2024, reflecting a 29% increase from the previous year. 

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The company’s strong performance was driven by premium growth, improved underwriting results, and higher financial contributions across its global operations.

Antonia Huertas, Chairman and CEO of MAPFRE, said:  “These results, the best in the company’s history, reflect our ambition for growth and technical excellence, stemming from the execution of our Strategic Plan. The dividend has reached a new historic maximum and is proof of our commitment to shareholders. We are starting 2025 full of optimism and with the confidence that we will continue creating value. “ 

Key Financial Highlights

  • Net profit: €902 million (+30%) after a €90 million goodwill write-down in Verti Germany
  • Premium growth: Up 4.5% to €28.1 billion (+6.6% at constant exchange rates)
  • Revenue: Reached €33.2 billion
  • Non-Life combined ratio: Improved by 2.8 percentage points to 94.4%
  • Shareholders’ equity: Increased 5.4% to over €8.5 billion
  • Adjusted ROE: 12%
  • Solvency II ratio: 202.4% (September 2024)

Regional Performance

  • Iberia: Net profit of €367 million, supported by growth in Non-Life lines and a strong Life business
  • North America: €99 million increase in results, reflecting successful technical improvements
  • Latin America: Largest contributor to group profits at €408 million, with Brazil posting €255 million
  • MAPFRE RE: €325 million in net profit, the highest in its history, with premiums reaching €8.4 billion
  • EMEA: Losses reduced to €30.3 million, with Turkey showing strong profitability

Dividends and Corporate Updates

MAPFRE has announced a record-high dividend of 16 cents per share (+6.7%), including a final dividend of 9.5 cents per share. The Board also introduced a participation dividend of 0.15 cents per share, encouraging retail shareholder engagement.

The company also confirmed leadership changes, with José Luis Jiménez Guajardo-Fajardo appointed as the new CFO, succeeding Fernando Mata Verdejo, effective April 1, 2025. Juan Bernal Aranda will assume the role of Chief Investment Officer.

With strong financials, increased shareholder returns, and solid regional performance, MAPFRE is well-positioned for continued growth and stability in 2025.

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