Mapfre reported that Mapfe Re, which covers reinsurance and global risk businesses, achieved a record performance of 381 million euros in 2025, a year-on-year increase of 17.2%, driven by prudent management and the absence of catastrophe events.
Among them, the reinsurance department contributed 329.5 million euros, with a combined ratio of 91.7%, while the global risk business contributed 51.5 million euros, with a combined ratio of 84.8%.
Mapfe Re’s total combined ratio will be 91.2% in 2025, an increase of 2.4 percentage points, and related reserves have been strengthened during the year.
“There were no relevant claims in the fourth quarter. The most relevant event this year continues to be the California wildfires in the first quarter,” Mapfrey explained.
Meanwhile, Mapfe Re’s premiums reached almost €8.4 billion in 2025, rising slightly despite the impact of currency depreciation, mainly the US dollar.
Of the total premiums, the reinsurance business contributed more than 6.6 billion euros and the global risk business contributed nearly 1.8 billion euros.
Turning to Mapfre’s overall group figures for 2025, the company reported that pre-tax and minority profits exceeded €2.4 billion for the first time.
Premiums increased by 3.6%, reaching a record high of more than 29 billion euros, of which non-life insurance business premiums were 22.47 billion euros and life insurance business premiums were 6.68 billion euros.
Total insurance income increased to 26.35 billion euros, and the combined ratio increased to 92.2%, the best level in the company’s history.
Return on equity (ROE) is 12.4% in 2025, with shareholders’ equity increasing by 5.3% to almost €9 billion.
Antonio Huertas, Executive Chairman of the Mapfre Group, commented: “We enter the final phase of our 2024-26 strategic plan with record results and a significant increase in profitability.
“Our net profit exceeded €1 billion for the first time and we increased shareholder pay for the fifth consecutive time in the past three years.
“Due to the diversification of our business, we are optimistic about 2026 and confident that we can continue to create value.”
