Mapfre tops Spanish blue-chip index after 9-month results
** Spanish insurer Mapfre MAP.MC jumps over 3% after it reported a 39% increase in its 9-month net profit due to benign weather and higher prices
** The company's attributable net result reached 654 million euros ($707.43 million), which included a 90 million euro writedown of goodwill in its auto insurance unit Verti Germany
** Renta 4 Banco highlights premiums in Non-Life business were 2% below estimates and those in Life business exceeded forecasts by 3% versus the broker's estimate and consensus
** It also suggests that the positive performance is due to a combination of tariff increases and normalization of claims, providing a solid operating trend and profitability improvement, which aligns with 2024-26 goals
** Mapfre shares top Spain's blue-chip index IBEX 35 .IBEX which remains flat, and are on track for best day since July
($1 = 0.9245 euros)
Reporting by Marta Serafinko and Natalia Siniawski
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