The MAPFRE Group moved to the 9th place in the 2022 ranking of the largest insurance group in Europe, after premiums increased by 10.8% to reach €24.540 billion, despite the complex macroeconomic and geopolitical context.
According to MAPFRE, “This increase reflects a general improvement for the insurance industry in almost all regions where it operates, with significant increases seen in Latin America and North America, as well as in reinsurer and large risk business lines.It also showed favorable performance in almost all currencies compared to the euro.
MAPFRE explains that this new edition of the rankings maintains, as in previous versions, the global premium volume as an analysis criterion, which also examines the Life and Non-Life business lines of a time horizon of the last 10 years.
The company noted that the overall performance of the European insurance industry was positive, despite the existence of a challenging environment.
Premium income increased by 7.7% in 2022 for the top 15 European insurance groups included in the ranking.
The total premium income for the groups reached €618.712 billion, with a double-digit increase seen in the case of Aéma Groupe in France (46.2%), which will start its operations in 2021 after the changes -or in the scope of consolidation after including the subgroup of Abeille Assurances for a complete year, Zurich (18.6%), Talanx (17.4%), Covéa (14.8%), CNP (13.7%), and MAPFRE (10.8% ).
Meanwhile, the company said that the Life segment was negatively affected by the impact of the war in Ukraine and a high level of volatility in the financial markets, among other factors.
In Life, the 15 largest insurance groups recorded a slight decrease of -0.1% in their premium income, while a 13.4% increase was seen in the Non-Life segment.
According to MAPFRE, the 15 groups included in the Non-Life ranking reported €350.471 billion in premium income, representing a 13.4% increase compared to last year.
For 2022, the MAPFRE Group remains in 6th place in the European Non-Life ranking, with €19.342 billion in premium volume, representing a year-on-year increase of 12.0%.
