In its report, it highlights a strong balance sheet, a strong operating performance and solid earnings from its reinsurance operations.
A.M. BEST credit agency has raised one notch the issuer credit rating of MAPFRE RE from ‘a’ to ‘a+’ with a stable outlook, while reaffirming the financial strength rating in ‘a’ (excellent).
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MAPFRE RE’s contribution to Group earnings totaled 245 million euros, 70.6% better than the previous year.
It reviewed the evolution of the business, the market situation and the main challenges for 2024.
On January 16, 1974, the Compagnie Internationnale d'Assurances et de Réassurances (CIAR) was incorporated in Brussels by ASSUBEL (Belgium), AUG (the Netherlands) and MAPFRE (Spain). Each company invested what amounted to 50 million Belgian francs at the time, and in...