Mapfre Middlesea plc - Interim Results

On 28 July 2025, Mapfre Middlesea plc published its interim financial statements covering the six-month period ended 30 June 2025.

Net insurance and investment results amounted to €16.7 million compared to €14.1 million in the first half of 2024. The company explained that its non-life business saw further improvement from the previous year. Furthermore, technical performance improved from all lines of business apart from health. Particularly, the motor portfolio registered lower claim frequency with negligible movement in claim cost averages

The Group generated pre-tax profits of €14.2 million, which is 16.9% higher than the €12.2 million figure registered in the corresponding period last year.  After accounting for a tax charge of €4.42 million and non-controlling interests of €2.85 million, the net profit for the period attributable to shareholders amounted to €6.97 million (H1 2024: €6.03 million) which translates to an annualised return on average shareholders’ funds of 14.8% (H1 2024: 14.3%).

The Statement of Financial Position as at 30 June 2025, when compared to that of 31 December 2024, shows that total assets remained relatively unchanged at €2.46 billion. Similarly, total liabilities remained stable at €2.27 billion, whilst total equity amounted to €187.2 million. After accounting for non-controlling interests of €88.5 million, equity attributable to shareholders amounted to €98.7 million which translates into a net asset value per share of €1.072 (31 December 2024: €1.047).

Outlook

In their commentary, the Directors explained that the published results are satisfactory and meet the targets set in the Group’s three-year strategic plan. On this basis, the Board looks at the second half of 2025 with cautious optimism, while also cognizant of the inherent risks of the underlying nature of the business and the impact these might have on results.