Spanish insurer MAPFRE, parent company of Massachusetts-based Commerce Insurance, said its net profit rose by 23.2 percent last year, to $1.16 billion, driven by growth in its international business, the company said on Wednesday.

Madrid-based MAPFRE said its total revenues rose 19 percent to $22.8 billion.

Nonlife insurance premium revenues increased 2.6 percent to $7.5 billion, while life insurance premium revenues rose 11 percent to $3.1 billion.

MAPFRE’s business from overseas, which represents 45 percent of the group’s total premiums, grew 33.9 percent, reaching $8.8 billion, the insurer said.