MADRID (dpa-AFX) - Spanish insurance company Mapfre S.A. (CMAB.F) reported higher net profit in its first quarter, despite weak revenues and premiums.
In Madrid, the shares were trading at 4.1540 euros, down 1.1 percent.
The company's Mapfre's first-quarter net profit increased 12.7 percent to 310.9 million euros from last year's 275.9 million euros. All regions and units contributed positively to the result.
Revenue, meanwhile, dropped 1.9 percent to 9.70 billion euros from 9.89 billion euros a year ago.
Total written and accepted premiums amounted to 8.39 billion euros, down 2.2 percent from last year's 8.58 billion euros, impacted by currency movements. At constant exchange rates, the company recorded a slight decline of 0.2 percent.
Non-Life premiums dropped 2.6 percent in euros and down 0.1 percent at constant exchange rates. Life premiums fell 0.6 percent in euros.
The company added that the final dividend against 2025 will be paid on May 28.
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