Mapfre (MAP) Q1 2026 (Media) earnings summary

Executive summary

• Net attributable profit rose 12.7% year-over-year to EUR 310.9 million, driven by improved technical results, strong financial income, and absence of major catastrophes.

• Premiums totaled EUR 8.4 billion, stable year-over-year at constant FX but down 2.2% due to currency depreciation.

• Revenue reached EUR 9.7 billion, maintaining stability despite macroeconomic and geopolitical uncertainty.

• Diversified business model across regions and segments, with strategic strength in Latin America and robust technical performance in autos and reinsurance.

• Profitability improved across most regions and business lines, with prudent optimism for the year ahead.

Financial highlights

• Net attributable profit reached EUR 310.9 million, up 12.7% compared to the same quarter last year.

• Premiums totaled EUR 8.4 billion, stable year-over-year at constant FX.

• Revenue for Q1 2026 was EUR 9.7 billion, down 1.9% year-over-year.

• Investment portfolio exceeded EUR 50 billion, growing 3.6% in the quarter; assets under management rose 4.3% to over EUR 67 billion.

• Shareholders' equity remained stable at EUR 8.9 billion.

Outlook and guidance

• Confident in achieving strategic plan objectives for ROE, combined ratio, and 6% growth at constant FX, barring significant worsening of geopolitical or inflationary conditions.

• Management expresses confidence in meeting Strategic Plan targets despite geopolitical complexity.

• Expect continued growth in premiums and earnings, especially in Spain and LatAm, as FX headwinds moderate.

• Prudent optimism for continued profitability based on business diversification.