Mapfre Middlesea plc - Full-Year Results

On 24 March 2026, Mapfre Middlesea plc published its Annual Report and Financial Statements for the financial year ended 31 December 2025.

Net insurance and investment results amounted to €34.6 million which is 19.4% higher than the €29.6 million reported in the previous year. The company highlighted that in its General Insurance Business premiums written rose by 9.6% to €113.6 million (2024: €103.6 million), with growth across all classes of business but notably in Health, Property, and Group Life. Mapfre Middlesea stated that it retained its leadership of the non-life market with its market share increasing marginally from the prior year.

The Group’s Long-Term Insurance Business subsidiary Mapfre MSV Life plc (50% owned) registered a profit before tax of €15.7 million, compared to the €15.0 million recorded in the prior year.

Overall, the Group generated pre-tax profits of €29.6 million, which is 19.4% higher than the €24.8 million figure of the previous year. After accounting for a tax charge of €9.1 million and non-controlling interests of €5.6 million, the net profit attributable to shareholders amounted to €14.9 million (2024: €12.5 million), which translates into a return on average shareholders’ funds of 14.7% (2024: 13.6%).

The Statement of Financial Position shows that total assets increased by 1.5% (or €37 million) to €2.49 billion. Total liabilities rose by 1.0% (or €22.1 million) to €2.3 billion. Meanwhile, shareholders’ funds increased by 11.1% (or €10.6 million) to €107.0 million (2024: €96.3 million), which translates into a net asset value per share of €1.163 (31 December 2024: €1.047).

Dividend

The Directors are recommending a final net dividend of €6.0 million, equivalent to €0.065217 per share, which is 25.0% higher than the dividend paid out last year. This is payable on 26 May 2026 to all shareholders as at the close of trading on Friday 8 May 2026, subject to shareholders’ approval at the upcoming Annual General Meeting scheduled to be held on 30 April 2026.

Outlook

The Directors noted that management will present a new strategic plan for the period 2027–2029 later this year, which will be inspired by the vision, purpose, and values that distinguish the Group. The company also intends to reset its strategic plan during 2026 to better align with the broader Mapfre Group strategic cycle and to leverage ongoing technological transformation. The directors stated that they will propose a resolution to change the company’s name from Mapfre Middlesea to Mapfre Malta at the forthcoming AGM as they see clear tangible benefits in aligning the name with the larger global brand of MAPFRE.