Mapfre Middlesea plc - Interim Directors’ Statement

On 7 November, Middlesea Insurance plc issued its Interim Directors’ statement covering the third quarter of 2012. During this period, the Group continued to show a strong performance following the significant improvement in profitability during the first six months to €2.79 million (June 2011: €1.1 million).

The Directors also noted that in spite of the storm in Malta in early September, the technical results of Middlesea Insurance (the holding company) remain positive. Moreover, the favourable financial market movements during Q3, both locally and internationally, continued to have a positive influence on the investment portfolio returns of the Group, especially those of MSV Life plc. This contrasts with the negative returns registered in the same period last year.

The improved results for the first nine months of 2012 continue to strengthen the solvency position of Middlesea Insurance plc which remains well above the regulatory requirement.