Spanish insurer Mapfre SA is targeting 2021 revenues of €30 billion and average premium growth of 5% from 2019 to 2021, boosted by improved profitability at its life business, under its new strategic plan announced March 8.

In 2018, the group's revenues were €26.59 billion, and premiums were €22.54 billion.

The insurer said it was targeting average annual premium growth in its life business of 8% for the three years. It will also pursue an average return on equity of 10% and a combined ratio in nonlife of 96%.

ROE in 2018 was 6.4%, and the nonlife combined ratio was 97.6%.