Spain's Mapfre says quarterly revenue rises 1.6 percent

MADRID Fri May 3, 2013 6:02am EDT

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MADRID May 3 (Reuters) - Spanish insurer Mapfre posted a 1.6 percent rise in total revenues to 6.9 billion euros ($9 billion) in the first quarter of 2013, as strong overseas businesses including in Brazil offset woes at home.

Mapfre said on Friday that net profit dropped 2.6 percent in the quarter, compared with a year ago, to 264 million euros. A troubled domestic economy weighed on its business, where revenues faltered, but they grew over 6 percent in its international division.

Mapfre said it made 54 of profits overseas. ($1 = 0.7649 euros) (Reporting by Sarah White)