Mapfre (MAP) Q3 2025 (Media) earnings summary

Executive summary

• Net profit for the first nine months reached €829 million, up 27% year-over-year, with profitability growth across all regions and business lines.

• Interim dividend raised to 7 cents per share (+7.7%), with total 2025 dividend at 16.5 cents per share and a record payout exceeding €500 million.

• Strategic plan implementation is on track, with robust results in core businesses and improved technical management.

• Extraordinary impacts of €79 million from partial goodwill writedown in Mexico and derecognition of deferred tax assets in Italy and Germany; adjusted net result would be €908 million (+22.1%).

• Continued commitment to supporting communities, notably in response to last year's flash floods, with significant payouts and collaboration with the insurance consortium.

Financial highlights

• Premiums grew by 3.5% year-over-year to €22.4 billion; at constant exchange rates, growth was 7.8%.

• Life insurance premiums rose 9.7%, while non-life increased by nearly 2%; Life Savings up 24.1%.

• MAPFRE RE delivered €256 million in results, up 24%, with a combined ratio of 93.8%.

• Non-Life technical result up 50.1% to €953 million; Non-Life gross financial result up 8.8% to €529 million.

• Interim dividend increased to €0.07 per share, with a record payout exceeding €500 million for the year.

Outlook and guidance

• Optimistic but prudent outlook for 2025, expecting another record-breaking year and continued profitable growth.

• Dividend yield exceeds 5%, with €508 million in dividends paid or declared for 2025.

• Management highlights ongoing internal transformation, efficiency improvements, and resilience to market conditions.

• Anticipates that lower interest rates in Latin America will boost economic activity and insurance demand.