Mapfre has advanced that future interest rate hikes by the European Central Bank (ECB) will have a positive effect on its business, by favoring the contracting of savings products. This was stated by the insurer's chief financial officer, José Luis Jiménez, during a press conference held this Wednesday on the occasion of the presentation of the group's quarterly results.
"The foreseeable interest rate hikes we think can be an important boost for the savings business. And especially for Mapfre, which is betting very strongly on everything related to financial planning," Jiménez said.
The financial executive acknowledged that a scenario of "extraordinarily high" rates could have "some impact" on consumption and investment across the economy as a whole. Nevertheless, he ruled out that extreme scenario and indicated that the market anticipates increases of 25, 50 or 75 basis points in the short and medium term.
Regarding the direct effect on Mapfre, Jiménez specified that the rise in interest rates is favorable for the entity in its asset management activity, both in funds and pension plans, in addition to boosting savings products. In this sense, he recalled that in recent months the company has placed on the market several savings solutions with returns close to 3% that have sold out "in days".
Mapfre's first vice president, José Manuel Inchausti, underlined that the company continues operating in a "challenging environment", both from an economic and geopolitical point of view.
Likewise, he highlighted "the strength of the business model, diversification and discipline in risk management", factors that, as he emphasized, have allowed Mapfre to increase its profit by double digits despite assuming an impact of 83 million euros from the earthquake registered in Colombia last August.
"The acquisition we recently announced in the United States allows us to be optimistic regarding our next strategic plan, which will once again focus on profitable growth," Inchausti emphasized, who advanced that the company expects to unveil this new plan at the beginning of next year.
In the first nine months of 2026, Mapfre obtained a net profit of 924.3 million euros, 11.5% more than in the same period of the previous fiscal year. The group's revenues increased by 3%, to 27,239.7 million euros, while premiums advanced by 2%, to reach 22,826.7 million.