presentación de powerpoint · 2021. 7. 26. · asistencia earnings by business unit 8 million...

July 26, 2021

Fernando MataCFO and Member of the Board

RESULTS 6M

Positive progress made in core business

Solid growth in earningsand premiums

01

02

Solvency ratio of 201% (to March 2021)

Financial strength A+ (S&P)

Solvency and a strongbalance sheet

6M 2021. KEY ASPECTS

From June of 2020... To June of 2021...

Falls in premiums and earnings

HEALTH 59 51

BURIAL 30 15

LIFE PROTECTION 83 152

TRAVEL INSURANCE 23 5

OTHER LINES 14 25

TOTAL INSURANCE 209 247

ACCEPTED REINSURANCE 113 19

TOTAL ACCUMULATED 322 266

COVID-RELATED LOSS EXPERIENCE 3

LINE 2020 6M 2021

We have successfully adapted ourbusiness model to the new reality

Total COVID-19 impact: €588M

IBERIA 39 22

LATAM NORTH 63 73

LATAM SOUTH 32 44

BRAZIL 46 100

NORTH AMERICA 1 1

EURASIA 3 2

TOTAL INSURANCE 186 242

MAPFRE RE 113 19

MAPFRE ASISTENCIA 23 5

TOTAL ACCUMULATED 322 266

GEOGRAPHIC AREASAND BUSINESS UNITS

2020 6M 2021

Figures in million euros

Million euros / *Variations at constant exchange rates / **Excluding 2020 goodwill writedown / ***Data up to Mach 2021

6M 2021. KEY FIGURES

+6.1%

INGRESOS CONSOLIDADOS

14,083

+11.3*+6.2%

11,663

+34.5%

364

NON-LIFE COMBINED RATIO

95.1%

ROE**

8.9%

SOLVENCY II RATIO

201%***

4

CONSOLIDATED REVENUES PREMIUMS ATTRIBUTABLE EARNINGS

+6.7% +4.3% +17.4% -8.2%

+9.8%

+11.7%

REVENUES

Million euros / *Variations at constant exchange rates

+11.3%

5

€14,083M +6.1%

€11,663M +6.2%

CONSOLIDATED REVENUES

TOTAL PREMIUMS

CONSOLIDATED REVENUES

MAIN LINES – DIRECT INSURANCE

+20.7% -4.7% +5.3% -4.9% +10.3%

9,347

2,3161,439 982

3,691

2,701

1,129 1,046 984

NON-LIFE LIFE FINANCIAL OTHER INCOME

GENERAL P&C AUTOMOBILE HEALTH & ACCIDENT

LIFE PROTECTION LIFE SAVING

NET EARNINGS

EARNINGS BREAKDOWN 6

Million euros / *Includes other activities, Holding expenses and hyperinflation adjustments.

512

148-26

-144 -126

364

+15% -34% +35%

ADJUSTED EARNINGS

€392M

6M 2020 6M 2021

Attributable earnings 271 364

Puerto Rico earthquake 61 0

MAPFRE RE COVID-19 claims 57 14

Corporate transactions 15 -42

Voluntary redundancy plan 0 56

Adjusted eaernings 404 392

NON-LIFE LIFE NET RESULTOTHER CONCEPTS* TAXES NON-CONTROLLING INTERESTS

PREMIUMS BY BUSINESS UNIT 7

Million euros / Data not consolidated

INSURANCE

€9,713M +6.8%

€3,241M +11.4%

ASISTENCIA

€247M

6.9% -1.0% 51.9% 4.0% -8.1% -4.9% 15.6% -26.9%0.1%

REINSURANCE GLOBAL RISKS

IBERIA BRAZIL LATAMSOUTH

EURASIANORTH AMERICALATAMNORTH

REINSURANCE GLOBAL RISKS ASISTENCIA

4,252

1,5961,347

7561,025

738

2,454

787247

206

3620 28

51

14

69

14 -2

INSURANCE

€355M -17%

83

ASISTENCIA

EARNINGS BY BUSINESS UNIT 8

Million euros / Data not consolidated

-6.8% -39.8% -54.7% 1.8% -4.6% -39.1% -- 85.6%--

REINSURANCE GLOBAL RISKS

IBERIA BRAZIL LATAMSOUTH

EURASIANORTH AMERICALATAMNORTH

REINSURANCE GLOBAL RISKS ASISTENCIA

GROUP OVERVIEW 9

Million euros / Variations compared to December 2020

TOTAL ASSETS

+2.5%

€8,506M

SHAREHOLDERS’ EQUITY

RESULT FOR THE PERIOD

BALANCE DECEMBER 2020

UNREALIZED GAINS

DIVIDENDS OTHERCURRENCY DIFFERENCES

BALANCE JUNE 2021

DECEMBER 2020 JUNE 2021

69,153

70,871

8,536 8,506

-2120-281-231364

INVESTMENTS AND CASH 10

Million euros / Variations compared to December 2020. / * Does not include Bankia MAPFRE Vida investments.

EQUITIES AND FUNDS

10%

REAL ESTATE

5%

CASH

5%

FIXED INCOME AND OTHER

80%

Investment portfolio 44,606 -0.6%

Pension funds 6,115 +6.3%

Mutual funds and other 5,076 +12.0%

TOTAL 55,797 +1.1%

€30,411MFIXED INCOME

PUBLIC DEBT 22,440

Spain 12,184

Rest of Europe 4,268

United States 1,426

Brazil 2,253

Latin America – Other 1,750

Other countries 559

CORPORATE DEBT 7,971

ASSETS UNDER MANAGEMENT

INVESTMENT PORTFOLIO*

€44,606M -0.6%

Tier 2

€1,177M(12%)

CAPITAL AND SOLVENCY 11

€12,966MCAPITALSTRUCTURE

SUBORDINATEDDEBT

SENIORDEBT

8%

SHAREHOLDERS’ EQUITY

76%

BANKDEBT

9%7%

*Datos a marzo 2021

SOLVENCY IIRATIO

201%*

23.7%RATIO

DEBT

Tier 1

€8,259M(88%)

PREMIUMS€4,252M +6.9%

NET EARNINGS€206M -6.8%

COMBINED RATIO 96.3%

ROE10.5%

IBERIA

PORTUGAL 65 –2.2%

12

Million euros

INSURANCE BUSINESS REGIONAL BREAKDOWN

SPAIN 4,186 +7.0%

PREMIUMS BREAKDOWN

HEALTH & ACCIDENT

LIFE GENERAL P&C AUTOMOBILE

722

1,002

1,2701,115

5.1% 12.9%2.7% 9.3%

INSURANCE BUSINESS REGIONAL BREAKDOWN

PREMIUMS BREAKDOWN

PREMIUMS€1,596M -1.0%

NET EARNINGS€36M -39.8%

COMBINED RATIO 86.1%

ROE9.9%

BRAZIL

13

Million euros / *Variations in local currency

+15.3%

822

551

222

AUTOMOBILELIFEGENERAL P&C

7.1% -5.0%-9.6%

INSURANCE BUSINESS REGIONAL BREAKDOWN

PREMIUMS€1,347M +51.9%

NET EARNINGS€20M -54.7%

COMBINED RATIO 93.5%

ROE9.9%

LATAM NORTH

PREMIUMS BREAKDOWN

14

Million euros / *Variations in local currency

933

255159

109%

DOMINICAN REP.CENTRAL AMERICAMEXICO

107.3% -8.9%-2.6%

243

184140

89

14%

33%

-3%

61%

INSURANCE BUSINESS REGIONAL BREAKDOWN

PREMIUMS€756M +4.0%

NET EARNINGS€28M +1.8%

COMBINED RATIO 92.3%

ROE10.7%

LATAM SOUTH

15

Million euros / *Variations in local currency

PREMIUMS BREAKDOWN

PERU COLOMBIA CHILE ARGENTINA

-4.0% 1.9%23.0% 12.1%

INSURANCE BUSINESS REGIONAL BREAKDOWN

PREMIUMS€1,025M -8.1%

NET EARNINGS€51M -4.6%

COMBINED RATIO 97.2%

ROE5.3%

NORTH AMERICA

PREMIUMS BREAKDOWN

16

Million euros / *Variations in local currency

-0.6%

778

51

196

-3,3%

-7.5%

829

UNITED STATES

PUERTO RICOOTHER STATESNORTHEAST

-2.7% -10.6%-47.3%

INSURANCE BUSINESS REGIONAL BREAKDOWN

PREMIUMS BREAKDOWN

EURASIA

17

Million euros / *Variations in local currency

PREMIUMS€738M -4.9%

NET EARNINGS€14M -39.1%

COMBINED RATIO 101.8%

ROE3.1%

223 210

153123

13%

ITALYMALTAGERMANY TURKEY

3.7% -15.7%25.9% -32.2%

INSURANCE BUSINESS REGIONAL BREAKDOWN

PREMIUMS€3,241M +11.4%

NET EARNINGS€83M +260.1%

COMBINED RATIO 94.8%

ROE4.7%

MAPFRE RE

18

Million euros

PREMIUMS BREAKDOWN

2,454

787

REINSURANCE GLOBAL RISKS

15.6% 0.1%

FINANCIAL STRENGTHS

SOLVENCY POSITION

201%*

CAPITAL QUALITY

88% Tier 1

COMBINED RATIO

95.1%

CASH

€2,365M

DEBT RATIO

23.7%

FINANCIAL STRENGTH RATING

S&P/Fitch: A+

19

*Q1

CONCLUSIONS

01

02

03

Profitable Growth▪ Leadership positions in Spain and Latin America

▪ Geographic and business diversification

▪ Contribution from reinsurance and Global Risks

Transformation of the business▪ Focus on digitalization

▪ Improvement in profitability and competitiveness

Great capital strength with low volatility▪ Liquidity, solvency and low debt level

20

July 26, 2021

Fernando MataCFO and Member of the Board

RESULTS 6M

THANK YOU