MAPFRE's net profit declines nearly 10%

Posted On: May. 1, 2018 5:44 AM CST

Brazilian insurer MAPFRE Seguros Gerais S.A.'s net profit declined 9.3% year over year to €187 million ($227 million) in the first quarter, Segs.com reported. Revenue fell 7.6% to €7.7 billion, while premiums decreased 7.2% to €6.2 billion. Insurance premiums declined 7.2% to €5.2 billion whereas reinsurance premiums fell 3.4% to €1.1 billion. General insurance premiums amounted to €393 million.