Mapfre Re Q3 profit swells despite “catastrophic” Faxai and non-cat hits

Mapfre Re – comprising Spanish giant Mapfre’s reinsurance and Global Risks specialty units – saw its net result grow from Eur3.4mn ($3.8mn) in Q3 2018 to Eur17.2mn ($19.2mn) this year, despite retained losses from Japanese Typhoon Faxai, two large non-cat losses and a Brazilian drought.