Mapfre Middlesea p.l.c. – Approval of half yearly financials as at 30 June 2016

Mapfre Middlesea plc issued interim Financial Results for the financial half year ended June 30, 2016. 

The company reports a drop of 62.7 per cent in profits before tax to €5.7 million, when compared to the first six months of 2015. This decline was attributed to a one-off reinsurance cost adjustment and relative returns on financial investments which were significantly stronger during the first six months of 2015. 

However, the long term Gross Premium Written grew by 44 per cent from €1.04 to €151.9 million, when compared to the comparable period of 2015. Earnings per share stood at €0.024. 

The board of directors did not propose to pay an interim dividend.

To view the offiical Company Announcement, click here.