Feb 9 (Reuters) - Spanish insurer Mapfre said on Thursday its net profit fell 16% in 2022 net profit as a result of higher inflation, higher costs of its car insurance business and an increase in claims related to disasters such as a drought in the Parana river basin in South America.
The company’s net profit fell to 642.1 million euros ($688.84 million) from 765.2 million euros a year ago.
Analysts in a company-provided poll had expected on average the full-year net income of 643.4 million euros.
$1 = 0.9321 euros Reporting by Marta Serafinko, editing by Inti Landauro
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