Spain’s Mapfre profit soars almost 40% in the first nine months of the year

(Reuters) – Spain’s largest insurer Mapfre said on Tuesday its net profit rose 39% in first nine months of the year as higher prices and a more benign weather and less severe natural disasters lifted its non-life business’ profitability.

The firm’s net profit soared to 654 million euros ($803.80 million) up from 471 million euros recorded in the same period last year, while its premiums reached 21.62 billion euros.

($1 = 0.9250 euros)