MAPFRE: Premiums grow 19% and reach nearly €7.8 billion in the first quarter

ACTIVITY UPDATE REPORT TO MARCH 31, 2023*

• Revenue is up 21% and stands at over €9.1 billion
• The net result reached €128 million (-17%) due to the impact of the earthquake in Turkey, with an estimated net cost of €77 million, as well as the complex Auto environment.
• IBERIA grew above the market, both in Non-Life and Life, with 31% premium growth, supported by the Life Savings business, and continues to be the region with the highest volume in the Group.
• LATAM, where net results took off to €94 million, is the main contributor to earnings.
• Improved Life result (+95%) and Non-Life financial result (+20%), in a better market context.
• The reinsurance unit grew 7% and global risks 11%.
• MAPFRE will pay the final dividend against 2022 results on May 24th.

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