1st quarter - noticias de mapfre...presentation 1st quarter #mapfreresults 30 april, 2019 fernando...
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#MAPFREresults 30 April, 2019
2019
RESULTS
PRESENTATION
1st QUARTER
2019
RESULTS
PRESENTATION
1st QUARTER
#MAPFREresults 30 April, 2019
FERNANDO MATA MAPFRE’s Member of the Board and CFO
MORE
KEY ASPECTS OF THE FIRST QUARTER 3
* Vs. Dec. 2018
** Excluding goodwill write-down
GROWTH
MORE PROFITABILITY
+5.8%
+3.3%
+10.6%
+3.5%*
+7.9%
+5.9%*
REVENUE
PREMIUMS
RE
SHAREHOLDERS' EQUITY
SPAIN
ASSETS
+0.6%
95.9% (-0.6 pp)
+15%
BRAZIL AND USA
8.3%**
ATTRIBUTABLE RESULT
COMBINED RATIO
INSURANCE UNIT RESULT
SUBSTANTIAL RECOVERY
ROE
ECONOMIC CONTEXT: BETTER NEUTRALITY IN
CURRENCY DEVELOPMENTS
COMBINED RATIO NON-LIFE
-x pp
x%
ROE
x%
Million euros
** Excluding goodwill write-down
THE FIGURES AT A GLANCE 4
+0.6%
188
ATTRIBUTABLE
EARNINGS
7,675 +5.8%
CONSOLIDATED
REVENUES
PREMIUMS 6,399 +3.3%
+3.9% at constant exchange
rates
NON-LIFE COMBINED
RATIO ROE
8.3%* 95.9% -0.6 pp
7,675 +5.8%
0 1000 2000 3000 4000 5000 6000 7000 8000 9000
NON-LIFE PREMIUMS
LIFE PREMIUMS
FINANCIAL
OTHER REVENUE
CONSOLIDATED
Series 1
NON-LIFE PREMIUMS
LIFE PREMIUMS
FINANCIAL
OTHER REVENUE
CONSOLIDATED
CONSOLIDATED REVENUES 5
0 1000 2000 3000 4000 5000 6000 7000 8000 9000
NON-LIFE PREMIUMS
LIFE PREMIUMS
FINANCIAL
OTHER REVENUE
CONSOLIDATED
Series 1
NON-LIFE PREMIUMS
LIFE PREMIUMS
FINANCIAL
OTHER REVENUE
CONSOLIDATED
451 +4%
4,999 +0.7%
1,399 +14%
826 +32%
+1%*
+15%*
NON-LIFE PREMIUMS
LIFE PREMIUMS
FINANCIAL
OTHER REVENUES
CONSOLIDATED REVENUES
Million euros
*Data in blue at constant exchange rates.
EARNINGS BREAKDOWN
-113 -76
188 275
137
-35
Million euros
*Includes other activities, holding company expenses and adjustments for hyperinflation.
6
NON-LIFE LIFE OTHER* TAXES NON-CONTROLLING INTERESTS
NET EARNINGS
50% 50% 50%
Million euros
GROUP OVERVIEW
SHAREHOLDERS' EQUITY +279M
+3.5% 7,994
BALANCE
01/01/2019
188
EARNINGS FOR
THE YEAR
262
DIVIDENDS
91
CONVERSION
DIFFERENCES
36
OTHER
8,273
BALANCE
03/31/2019
298
UNREALIZED
CAPITAL GAINS
7
TOTAL ASSETS
+5.9% DEC. 2018 MARCH 2019
67,291 71,259
Million euros
ASSETS UNDER MANAGEMENT 8
INVESTMENT PORTFOLIO
FIXED INCOME
AND OTHER
82%
CASH
6% REAL ESTATE
4%
VARIABLE
INCOME
AND FUNDS
8%
51,788 +5.1%
€9,216M
PUBLIC DEBT
CORPORATE DEBT
€28,515M
PUBLIC DEBT
Spain 16,531
Rest of Europe 5,306
United States 1,481
Brazil 2,832
Latin America - Other 1,866
Other countries 499
TOTAL 28,515
CAPITAL AND SOLVENCY
Tier 2 €1,120 M (13%)
SOLVENCY II RATIO 190%* SOLVENCY
€12,587M
CAPITAL STRUCTURE
24% DEBT RATIO
EQUITY
76%
BANK DEBT
7%
SENIOR DEBT
8%
SUBORDINATED
DEBT
9% Tier 1 €7,699 M (87%)
9
*12/31/2018
**Environmental, Social and Governance
€7,699M
(87%)
1 Tier
€1,120M
(13%)
2 Tier
GLOBAL RISKS 247
REINSURANCE
1,294
REINSURANCE
55
PREMIUMS/EARNINGS BY BUSINESS AREA
Million euros
Data do not include consolidation adjustments
Data do not include consolidation adjustments.
NET EARNINGS PREMIUMS
10
INSURANCE MAPFRE RE ASISTENCIA
INTERNATIONAL 11
+15%
179
-27%
52
-45%
-4 LATAM 48
IBERIA 120
+2.9%
+2.6%
INSURANCE
ASISTENCIA
5,372
233 +10.6%
MAPFRE RE
1,541
IBERIA
2,525
LATAM
1,769
INTERNATIONAL
1,078
SPAIN
2,492 +7.9%
PO
RTU
GAL
34 +4.8%
Million euros
SPAIN
INSURANCE BUSINESS PREMIUMS REGIONAL BREAKDOWN 11
IBERIA THE GROWTH DRIVER
INSURED VEHICLES
5,771,882 (units) +2.4%
PREMIUMS €2,525M (+7.8%)
NET EARNINGS €120M (+1.5%)
COMBINED RATIO 92.6%
ROE 11.8%
LIFE GENERAL HEALTH AND
ACCIDENT
652 608
646
AUTOMOBILE
548
+4% +21% +3% +5%
90.6%
Auto TPL
652 +21%
GENERAL HEALTH AND ACCIDENT
LIFE AUTO
90.6%
Auto TPL
646 +4%
608 +5%
548 +3%
INSURANCE BUSINESS PREMIUMS REGIONAL BREAKDOWN 12
BRAZIL
GENERAL P&C
368 -7%
MAPFRE SEGUROS
532 -13%
BB MAPFRE
435 +8%
LIFE
364 +13%
AUTO
234 -21%
104.4%
Auto TPL IMPROVES
10 POINTS
Million euros
*Data in blue at constant exchange rates.
€967M (-4.6%) €24M (+68)
NET EARNINGS PREMIUMS
95.4%
COMBINED RATIO
+2.3%*
€551M (-2%)
INSURANCE BUSINESS PREMIUMS REGIONAL BREAKDOWN 13
NORTHEAST PUERTO RICO
403
+5%
NON-NORTHEAST
73 -15%
74 -2%
98.6%
Northeast TPL
NORTH AMERICA
NORTHEAST
403 +5%
PUERTO RICO
74 -2%
Million euros
*Data in blue at constant exchange rates.
98.6%
RC
NON-NORTHEAST
73 -15%
USA
€13M (vs. €4M LOSSES IN 2018)
NET EARNINGS PREMIUMS
99.9% (6.3 POINT IMPROVEMENT)
COMBINED RATIO
-9.7%*
INSURANCE BUSINESS PREMIUMS REGIONAL BREAKDOWN 14
LATAM NORTH
Million euros
MEXICO DOUBLES RESULTS
95.4%
Auto TPL
245 +16%
CENTRAL AMERICA
DOMINICAN REPUBLIC
MEXICO
121 -1.5%
38 +20%
€404M (+11%) €13M (+35%)
NET EARNINGS PREMIUMS
96.2%
COMBINED RATIO
CHILE
63 +17%
INSURANCE BUSINESS PREMIUMS REGIONAL BREAKDOWN 15
LATAM SOUTH
133
90 54 63
PERU COLOMBIA ARGENTINA CHILE
+7% +4% -27% +17%
PERU EARNS €7 M WITH CR OF 88.7%
PERU
133 +7%
COLOMBIA
90 +4%
ARGENTINA
54 -27%
+44%*
Million euros
*Data in blue at constant exchange rates.
88.7%
CR
€398M (+1%) €11M (-24%)
NET EARNINGS PREMIUMS
95.5%
COMBINED RATIO
GERMANY
150 +2%
TURKEY
132 -12%
+13%*
INSURANCE BUSINESS PREMIUMS REGIONAL BREAKDOWN 16
ITALY
123 +7%
MALTA
104 +1%
EURASIA
Million euros
*Data in blue at constant exchange rates.
106.6%
Auto TPL IMPRIOVES
3 POINTS
€527M (-2.6%) -€2M
NET EARNINGS PREMIUMS
108.5%
COMBINED RATIO
CONCLUSIONS 17
03
02
01
Solid growth
and profitability of
mature businesses:
SPAIN and RE
New business
arrangements in
BRAZIL and USA
are showing results
LATAM consolidates its
contribution to
PROFITABLE
GROWTH
2019
RESULTS
PRESENTATION
1st QUARTER
#MAPFREresults