Mapfre’s premiums increase by more than 12%

Spanish insurer Mapfre SA’s total premiums increased by more than 12% year-on-year to €18.65 ($18.6 billion) billion in the first nine months of the year, La Republica reported. The insurer’s net income, however, dropped by almost 7% to €488 million. Mapfre’s Latin American operations accounted for 38% of the insurer’s total profits.