1.- Global figures
MAPFRE recorded revenue for the first nine months of the year of $23.4 billion, an increase of 1.8 percent with respect to the same period of the previous year, while premiums totaled $19.1 billion, 1.3 percent less. Earnings before taxes and non-controlling interests grew by 15.5 percent to $1,498 million, and net profits were $639 million, 3.3 percent lower than the equivalent figure for the first nine months of 2015.
Two events in 2015 impacted that year's results in an extraordinary manner: the sale of the insurance business that was jointly-owned with CatalunyaCaixa and the extraordinary cost of snowstorm-related claims in the United States. Excluding the effects of both of these events, the like-for-like growth in Group attributable earnings would have been 5.5 percent.
These results come on the back of the Group's strategy to concentrate its business on profitable activities. MAPFRE's combined ratio improved by 1.5 percentage points to 97.2 percent, with excellent combined ratios in Spain (93.4 percent), Brazil (94.7 percent) and the northeastern region of the US, which accounts for 74 percent of the country's premiums, (95.2 percent).
For further information, please contact MAPFRE's Corporate Communication Division (telephone +34 91 581 83 66; +34 91 581 91 68; +34 91 581 87 14), email: email@example.com; firstname.lastname@example.org; email@example.com.
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