Turkiye:Investment income expected to ease pressure on MAPFRE Sigorta's financial result

By MEIR team | 14 Aug 2023

Turkiye Investment Management Property & Casualty Financial Performance

MAPFRE Sigorta Anonim Sirketi's (MAPFRE Sigorta) expects to report net income of TRY546m ($20.2m) in 1H2023 (1H2022: a loss of TRY114m), according to the insurer's unaudited results. The increase in net income was driven by better investment income in 1H2023 due to foreign-exchange gains on the company's investment portfolio and higher rates on bank deposits, says Fitch Ratings

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