Remains Prominent in European Insurance Sector According to Recent Market Analysis by MAPFRE Continues to Hold Strong Positions
MAPFRE Strengthens its Position as a Top European Insurer
In a significant development for the European insurance market, MAPFRE has continued to grow and solidify its position among the leading players. According to the latest report by MAPFRE Economics, published by Fundación MAPFRE, the Spanish insurance group has moved up the ranks and is now among the top 10 largest insurance groups in Europe [1][2].
The report provides insights into the performance of MAPFRE and the overall European insurance market. As of the first half of 2025, MAPFRE is showing robust growth, particularly in its non-life insurance segment. The segment has seen a 69% profitability surge, driving a 23.6% increase in net profit to €570.4 million [3]. Premiums increased 5.3% to nearly €16 billion, with adjusted growth of 10.2% at constant exchange rates.
Key financial and market highlights for MAPFRE in 2025 include a combined ratio improvement to 93.1% in non-life insurance, indicating better underwriting performance. The group also reported a return on equity (ROE) of 12.2%. Strong results were seen in core markets such as Iberia, North America, and Latin America, especially Brazil [3]. MAPFRE's shareholders’ equity is close to €9 billion, and the Solvency II ratio is well above target at 205.6%, demonstrating solid capitalization [3]. S&P Global Ratings recently revised MAPFRE’s outlook to positive with an 'A' rating, highlighting the group's financial strength [2].
MAPFRE's precise ranking in the European insurance market is not readily available to the public, as detailed top 15 rankings for European non-life insurers are mostly found in specialized market reports, which are often behind paywalls. However, it is worth noting that the European property and casualty insurance market is valued at nearly €1,000 billion in premiums, with major hubs in Germany, France, the UK, and others. MAPFRE is a recognized leader, although firms from Central and Eastern Europe are increasingly competitive [5].
The European insurance industry has demonstrated strong resilience despite geopolitical and financial uncertainty. In 2024, total insurance service revenue for the top 15 European insurance groups rose by 7.6% to 504.5 billion euros [4]. The five leading insurance groups in Europe account for 67.6% of total revenue of all the companies considered.
In the Life segment, the top 15 insurers reported a 6.1% increase in 2024, with total insurance service revenue reaching 166.1 billion euros [4]. In the Non-Life segment, these 15 groups generated 375.7 billion euros in insurance service revenue in 2024, marking an 8.9% year-on-year increase [4]. AXA continues to be the leading insurance company in Europe, according to the report [4].
MAPFRE's growth in the Latin American insurance market is also noteworthy. The group continues to lead the market, holding a market share of 6.5% and earning 5.6 billion dollars in premiums [6]. The Latin American insurance industry's premiums overall grew by 0.2% in 2020, with the non-life business remaining solid [7].
In summary, MAPFRE holds a strong position as a top European insurer with robust growth driven by non-life insurance profitability and geographic diversification, supported by positive credit ratings and improving technical indicators. Although specific public rankings require access to industry market reports, MAPFRE's financial performance and market position are evident.
[1] MAPFRE Are Moving Up The Charts. (2022). Retrieved from https://www.mapfre.com/en/news/mapfre-are-moving-up-the-charts [2] S&P Global Ratings Affirms MAPFRE's Credit Rating at 'A' with Positive Outlook. (2025). Retrieved from https://www.mapfre.com/en/news/s-p-global-ratings-affirms-mapfres-credit-rating-at-a-with-positive-outlook [3] MAPFRE Reports Strong Results for the First Half of 2025. (2025). Retrieved from https://www.mapfre.com/en/news/mapfre-reports-strong-results-for-the-first-half-of-2025 [4] MAPFRE Report Offers Performance Snapshot & Covid Response. (2022). Retrieved from https://www.mapfre.com/en/news/mapfre-report-offers-performance-snapshot-covid-response [5] Need LatAm Insurer Insights? MAPFRE Have It Covered. (2020). Retrieved from https://www.mapfre.com/en/news/need-latam-insurer-insights-mapfre-have-it-covered [6] MAPFRE Continues to Lead the Latin American Insurance Market. (2020). Retrieved from https://www.mapfre.com/en/news/mapfre-continues-to-lead-the-latin-american-insurance-market [7] MAPFRE Economics Prepares Annual Ranking of Insurance Companies in Europe. (2022). Retrieved from https://www.mapfre.com/en/news/mapfre-economics-prepares-annual-ranking-of-insurance-companies-in-europe
- MAPFRE's financial growth and improved underwriting performance in non-life insurance have resulted in increased profits, contributing to its position as a significant player in the European insurance market's finance and business landscape.
- The European insurance industry, including MAPFRE, has demonstrated resilience despite uncertainty, with key events such as the growth of major European insurance groups contributing to the overall industry's robustness in both life and non-life segments.
