Mapfre’s reinsurance business grows despite flood losses

Spain-based insurer Mapfre SA’s reinsurance operations recorded more than €95 million ($111.7 million) in earnings in the first nine months of the year, despite high losses from Storm Bernd that struck Europe in July, Reinsurance News reported. The growth in reinsurance business helped drive Mapfre’s overall net earnings, which rose 6.4%.