Mapfre ends the year 2009 with a slightly rising net result

With 926.8 million EUR (1.3 billion USD) in 2009, Mapfre's net result has reported a slight increase in comparison with 2008 (+2.9%). The total premium volume amounts to 18.85 billion EUR (+6.3%) (26.9 billion USD). These figures are marked by a 2.2% decline of underwritings in Spain at 8.14 billion EUR (11.6 billion USD). The turnover in the United States, Turkey, Portugal and Philippines, will, henceforth, be increased by 22% reaching 8.357 billion EUR (11.9 billion USD), that is, a little more than half the portfolio but only 34% of the profit. The combined ratio amounts to 95.7%, that is, 1.8 points more than 2008.