On 20 October 2016, Mapfre Middlesea plc announced that, based on the review of the consolidated results as at 30 September 2016 (i.e. the first nine months of the financial year ending 31 December 2016), it is envisaging that the 2016 net profits attributable to shareholders will be lower when compared to that achieved in 2015 of €6.82 million. This is mainly because there will not be a repetition of the reinsurance cost saving adjustment carried in the financial statements of MSV Life plc in 2015. Furthermore, the technical performance of the motor class of business of Mapfre Middlesea deteriorated in 2016.
Nonetheless, Mapfre Middlesea reiterated that its solvency position remains well above regulatory requirements.