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Mapfre sees 2013 revenue of 26 billion

Source: Reuters - Sat 9th Mar 2013
Mapfre sees 2013 revenue of 26 billion

Spanish insurer Mapfre sees 26.0 billion of revenue in 2013 as it grows in Latin America and expands to new areas of the United States, the company said in a statement after a shareholders meeting on Saturday.

The shareholders approved a dividend of 0.11 per share out of 2012 earnings, equivalent to a pay-out of 51% of profit, the highest in the company's history, the statement said.

Shareholders have already received a preliminary 0.04 dividend in December, which will be complemented by a new payment of 0.07 per share.

Mapfre reported net profit of 666 million last year, based on revenue of 25.3 billion.

Chairman Antonio Huertas said in the statement that the company expects growth in its home market in Spain to outpace expansion in the country's insurance sector as a whole.

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