Major claims push Mapfre Global Risks to underwriting loss

Mapfre's global specialty insurance arm Mapfre Global Risks
fell to an underwriting loss in the first quarter as a result of
increased large claims.
The unit, which serves multinational companies, reported a 20
percentage point increase in the combined ratio to 109.5 percent,
dragged higher by an 18.2 point rise in the loss ratio to 75.6
percent.
"The deterioration of the combined ratio reflects the
increase in large claims, mainly due to two large claims that
occurred in Emea, as...