Spain’s Mapfre sees 2013 revenue of 26 billion euros

MADRID: Spanish insurer Mapfre sees 26.0 billion euros of revenue in 2013 as it grows in Latin America and expands to new areas of the United States, the company said in a statement after a shareholders meeting on Saturday.

The shareholders approved a dividend of 0.11 euro per share out of 2012 earnings, equivalent to a pay-out of 51 percent of profit, the highest in the company’s history, the statement said.

Shareholders have already received a preliminary 0.04 euro dividend in December, which will be complemented by a new payment of 0.07 euro per share.

Mapfre reported net profit of 666 million euros last year, based on revenue of 25.3 billion euros.

Chairman Antonio Huertas said in the statement that the company expects growth in its home market in Spain to outpace expansion in the country’s insurance sector as a whole.