The financial crisis seems to benefit Mapfre

The financial crisis suffered by the country seems to benefit Mapfre. In 2008, the Spanish insurer has reported an increase of its net profit of 23.2% at 900 million EUR (1 268.7 million USD).
The international expansion has yielded excellent results especially in Latin America where Mapfre has become the number one insurer. Among the other results, we note the 18.7% profit's growth of the group's reinsurance division.
The total revenue has reached 17.7 billion EUR (24.9 billion USD), 14.3 billion EUR (20.1 billion USD) of which in premiums.