The Spanish insurer Mapfre reported on Thursday a 19.6% rise in its annual net profit, reaching €1,080 million ($1,280 million), figures driven by the growth of its non-life insurance business and reduced hyperinflation adjustments, despite regulatory impacts in Latin America and extraordinary costs.

The board of directors will propose a final gross dividend of €0.11 per share, bringing the total payout for 2025 to €0.18 per share, 12.5% higher than a year ago, Mapfre said in a statement.

($1 = €0.8425)

(Reporting by Marta Serafinko and Mireia Merino in Gdansk, editing by Milla Nissi-Prussak; Spanish edition by María Bayarri Cárdenas)