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Mapfre projects impact of typhoons, riots on attributable result

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Mapfre projects impact of typhoons, riots on attributable result

Typhoons Faxai and Hagibis in Japan and the riots in Chile could impact Mapfre SA's attributable result by €130 million to €140 million, the insurer said.

The events will primarily affect Mapfre's reinsurance business and will not significantly impact the Spanish insurer's solvency position or capital strength. However, the insurer said the extraordinary increase in cost makes it necessary for it to update its 2019-2021 targets announced in March.