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Mapfre Group closed the first three months of 2025 with insurance revenue of 9.9 billion EUR (10.7 billion USD), up 5.3% year-on-year.
Written and accepted premiums rose by 5.4% to 8.6 billion EUR (9.3 billion USD). The Group's non-life combined ratio improved by 1.7 points to 94.1%, compared with 95.8% a year earlier.
Net result increased by 27.6% compared with the same period of 2024, reaching 275.9 million EUR (298.7 million USD).
The Group's shareholders' equity stood at 8.4 billion EUR (9.1 billion USD) in the first quarter of the current year.
Mapfre Re, the Mapfre Group's reinsurance entity, recorded a 10.6% rise in premiums to 2.4 billion EUR (2.6 billion USD).
The reinsurer's combined ratio was up 4.1 points to 97.9%, reflecting the impact of the California forest fires , which cost 85 million EUR (92 million USD).
Mapfre Re accounted for 48.3 million EUR (52.3 million USD) of the Spanish group's net profit at end-March 2025.
