Sat. Apr 20th, 2019

Mapfre recognizes that Caser has not responded to his interest in buying it | Economy

Mapfre recognizes that Caser has not responded to his interest in buying it | Economy



The president of Mapfre, Antonio Huertas, has acknowledged this Monday before the investors that Caser has not responded to the letter sent to him at the end of February expressing his interest in a purchase agreement. Sources from the insurer presided over by Huertas say that a month has passed since they sent the letter and they have not received any response, which leads them to believe that there is no interest in the operation by Caser. Still, from Mapfre discard that they give up buying it.

On the other hand, Mapfre plans to reach 30,000 million euros in revenue in 2021, with an average annual increase in premiums of 5% and a payout between 50% and 65% of its benefits, according to its Strategic Plan 2019-2021, sent this Monday to National Securities Market Commission (CNMV).

Said plan, under the title Transforming to grow and improve profitability, highlights its commitment to the investor, with stable and growing dividends and an ROE target (return on equity) of 10%, average 2019-2021.

In addition, the company will seek to boost its life business, with an average growth of 8% annual risk premiums at constant rates, with an average combined ratio of 96% in the three-year period and a solvency ratio of 200%.

On the other hand, Mapfre will carry out more than 10 million robotic transactions and will develop an advanced analytics platform to incorporate new forms of unstructured information and improve customer service.

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