MAPFRE Chairman hopeful for ‘much-needed’ economic growth in 2021

“We expect that with the vaccine rollout gaining traction and the pandemic spread restrained, the economy starts heading to much-needed growth,” said Martin Galea, Non-Executive Chairman of MAPFRE Middlesea and Director of MAPFRE MSV Life.

His comments were made in light of the Group’s annual report for 2020, which registered a profit of €14.29 million after tax, including MAPFRE Middlesea and MAPFRE MSV Life.

MAPFRE Middlesea p.l.c., as a standalone Company, registered a turnover of €75.12 million in gross premium written, a one per cent increase over 2019, and a marginal increase in its market leadership share.

For the rest of 2021, Mr Galea said, “we expect the demand for general business to grow at a lower rate than that experienced in recent years, while that for the protection savings and investments products in life to remain strong.”