With 25.9 billion euro turnover Mapfre Group made 790.5 million euro profit. President and CEO of Mapfre Antonio Huertas pointed that Mapfre Group’s goal is reach 30 billion euro turnover up to 2016.
Compared the previous year Mapfre Group increased its turnover 2.3 percent and reached 25.9 billion euro. Furthermore they increased their profit 18.7 percent and reached 790.5 million euro. Mapfre particularly has plans to expand their operations particularly in , China, North Europe and the U.S. markets. Moreover Mapfre has 30 billion euro production goal with this plan.
President and CEO of Mapfre Group Antonio Huertas announced group’s next 3 years goals as; increasing the total income up to 30 billion euro, keep the combined retention under 96 percent and continued of annuity as current level. Furthermore Huertos said that these goals are combined with a cost reduction plan of the group.
Mapfre have already serviced in 16 state in the U.S. and they will start to servicing in 3 more states as well. Huertos also stated that the agreement with China’s biggest insurance company (PICC) is strengthen their China market presence.
