Mutua Madrileña earned 405 million people last year, up 7.1%, and already exceeds 20 million insured
Mutua Madrileña earned €405.3 million in 2022. This represents an increase of 7.1% year-on-year, despite the rising claims environment and the general rise in costs in this segment. «The growth recorded by the insurance group in its results is mainly explained by the good progress in the insurance business of the various companies of the group. All areas of activity Mutua Madrilena Collection contributed positively to the group’s consolidated result,” the company notes in a statement.
Premium income (including national and international business) reached 7,310 million euros in 2022, an increase of 12.7% over the previous year. In this sense, only in Spain the number of premium income increased to 6,477 million euros, an increase of 13.3% over 2021. Thus, the number of insured persons at the end of the year exceeded 20 million, with a growth of 12.4% compared to 2021. To the previous year.
In business not related to life as a whole in Spain, its main field of activity, he heads the insurance company Ignacio Garalda For the first time in its history, its premiums exceeded 6,000 million euros. Specifically, it reached 6,098 million euros, which represents a growth of 9.4% compared to the previous year. “Thus, the Mutua Group, for the fifth consecutive year, is in first place in the national non-life insurance rankings, when just over a decade ago it was in seventh place,” the group reports.
In the automotive sector, income from insurance premiums in Spain amounted to 1,807 million euros, an increase of 16.3%. In the field of health, a premium volume of 3,167 million euros was achieved, up 7% over the previous year.
The company also values its solvency position. “The solvency margin of the Mutua Madrileña group, according to Solvency II criteria, was 309% at the end of the year, a ratio that keeps the company ahead of the Spanish non-life insurance groups in this regard, given that the sector average reached 235%,” he highlights company.
Beyond that, Ignacio Garalda, its president, when asked at a press conference about the climate of government attacks on companies, remarked that “a dry climate benefits no one” and that it would be better if this matter was left behind.
Likewise, the head of the insurance company highlighted the good progress of its alliance with El Corte Inglés, which launched a few quarters ago. In this sense, confirm that everything is going according to plan.
