February 8, 2018 / 7:41 AM / 2 months ago

BRIEF-Mapfre FY Net Profit Falls 9.7 Pct to 700.5 Million Euros

Feb 8 (Reuters) - Mapfre SA:

* SAYS NET COST OF LAST SEPTEMBER’S NATURAL DISASTERS IS 157 MILLION EUROS, 20 MILLION EUROS LESS THAN INITIAL ESTIMATE

* FY NET PROFIT 700.5 MILLION EUROS VERSUS 775.5 MILLION EUROS YEAR AGO

* FY PREMIUMS 23.48 BILLION EUROS VERSUS 22.81 BILLION EUROS YEAR AGO

* FY REVENUE 27.98 BILLION EUROS VERSUS 27.09 BILLION EUROS YEAR AGO

* TO PROPOSE FINAL DIVIDEND OF 0.085 EURO PER SHARE, MEETS OBJECTIVE TO MAINTAIN PAYOUT OF BETWEEN 50 AND 65 PERCENT

* COMBINED RATIO 98.1 PERCENT AT END-DEC. VERSUS 97.4 PERCENT AT END-DEC. 2016 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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