Mapfre Malta plc has reported a €13.19 million profit before tax for the half year ending 30th June 2026, but highlighted the impact of Storm Harry and other events on the insurance service result.
It published its unaudited half-year accounts on the stock exchange. Mapfre Malta registered a profit after tax of €9.15 million. The company’s total assets increased by 2 per cent and totalled €2.54 billion when compared to the end of 2025. Total equity for the group attributable to shareholders amounted to €107.43 million as at 30th June 2026, up from €106.99 million at 31st December 2025, with Mapfre Malta having paid a dividend of €6 million for the 2025 financial year.
The net asset value per share stands at €1.17
The company’s profit before tax was slightly lower than what was noted in the first half of 2025, when it registered €14.24 million.
The company said that its “non-life business saw premium written registering a satisfactory growth from the already improving levels of June 2025.”
It said that the insurance service result, although above expectations, is lower compared to the June 2025 performance following significant events, including the impact of Storm Harry at the beginning of the year and the firework factory explosion, “and the negative development on a number of prior year large losses, whilst in the first six months of 2025 the impact of large losses was contained.
Its insurance service result amounted to €12.3 million for the first 6 months to 30th June 2026, but for the same period in 2025 amounted to €13.3 million
It also noted that motor claim frequency edged up compared to 2025, and that a rise in average claim cost was observed.
It said that investment income excluding the dividend received from subsidiaries MSV Life plc of a net €2.50 million and BEE Insurance Management of a net €0.38 million, registered improvement both from realised income and higher unrealised gains.
Regarding Mapfre MSV Life plc insurance and investment sale levels, it said that they marginally exceeded expectations but registered “significant growth against the comparative first six months of the year.”
The company said the first six months exceeded established targets, and that the directors are “cautiously optimistic” for the performance in the final six months of 2026.
The company’s board did not propose a payment of an interim dividend for the first half of the year, in line with previous years.
Main Image:
