The rating scores and financial strength rating in the graphic above relate to Mapfre Re, the group's core operating entity. For the first quarter of 2023, the group has accentuated its growth on the back of continued inflation and tariffs increases. Notably, in Spain Mapfre's life premiums significantly grew thanks to life savings products offering better yields to policyholders than deposits. Life premiums in Spain more than doubled and are now above €1 billion. Non-life Q1 combined ratio for the group marginally increased by 0.4% to 98.5%, with the earthquake in Turkey having a negative estimated 3 percentage point impact. Motor remains the line of business suffering most from inflation, increasing 2.5 percentage points to 106.3%. It is balanced by
