Mapfre Middlesea plc holds its 40th annual general meeting
Mapfre Middlesea AGM was held remotely and streamed live on its website. Commenting on the year under review, chairman Martin Galea remarked that Mapfre Middlesea and Mapfre MSV Life have both performed well in spite of the pandemic. Both companies posted excellent returns. While Mapfre Middlesea posted a profit after tax of €4.12 million (2019 €4.01 excluding Group Dividends), Mapfre MSV Life posted a profit of €10.33 million (2019 €11.75 million) of which half is attributable to Mapfre Middlesea (the remaining half being owned by the bank). Due to these excellent returns Mapfre Middlesea will be issuing a net dividend of €3.20 million being 77.7 per cent of the company profit. He stated that: “From the outset of the COVID-19 crisis, Mapfre Malta’s immediate priority was to keep people safe, starting from the company’s employees and their families, as well as their clients, and within a few weeks, the company had to adapt to working remotely. “We have done our utmost to continue to deliver an excellent service to our clients while ensuring that business has remained profitable. Mapfre Malta proved to be resilient in the face of this pandemic and will continue working to...