Mapfre grows reinsurance and specialty GWP

Gross written premiums (GWP) at Mapfre's reinsurance arm grew
17 percent in the first quarter to EUR1.1bn ($1.3bn).
GWP from Mapfre Re accounted for 16.4 percent of the group
total. The company said the growth mainly reflected timing
differences in the issuance of several large contracts.
Net earned premiums were up 41.6 percent to EUR698.3mn.
The reinsurance unit's combined ratio increased by 4.2
percentage points to 93 percent, after a change in portfolio mix
led to an uptick in the...