Mapfre became the ninth insurance group in Europe after exceeding € 24,540 million in premiums in 2022, representing an increase of 10.8% compared to last year.
“This growth reflects a general improvement in the insurance business in almost all regions where it operates, with significant increases in Latin America and North America, as well as in reinsurance and large businesses that risk, and the favorable performance of almost all currencies. against the euro”, point out experts from Mapfre Research Service in the report.
Overall, and despite this complex environment, the performance of the European sector was positive. In this sense, the premium income of the 15 main European insurance groups considered in this ranking increased by 7.7% in 2022. In total, the premium income of these groups reached 618,712 million of euros, with double-digit growth in the case of the French Aéma Groupe (46.2%), which began its journey in 2021 after making changes to the consolidation perimeter due to the inclusion of the Abeille Assurances subgroup during the whole year, Zurich (18.6%), Talanx (17.4%), Covéa (14.8% ), CNP (13.7%) and Mapfre (10.8%).
The war in Ukraine and the high volatility of the markets affected the share of Life in the main groups in Europe; in fact, the top 15 – which does not include the insurer led by Antonio Huertas – registered a drop of 0.1% in premium income.
A decline that offset the 13.4% growth recorded in the Non-Life segment. In this ranking, Mapfre occupies sixth place with a premium volume of 19,342 million euros, representing an increase of 12% compared to 2021.
