MAPFRE GROUPJune 2013

2

ORGANIZATION CHART

MAPFRE FAMILIAR

MAPFRE VIDA

MAPFRE EMPRESAS

MAPFRE AMÉRICA

MAPFRE INTERNACIONAL

MAPFRE RE

MAPFRE ASISTENCIA

MAPFRE GLOBAL RISKS

MAPFRE S.A.

SPAIN & PORTUGAL INSURANCE INTERNATIONAL INSURANCE GLOBAL BUSINESSES

100%

100%

100%

99.2%

100%

91.5%

100%

100%

MAPFRE SEGUROS GERAIS

100%

3* 2005-2012 NIIF; 1986 – 2004 PGC

YearMillion €

EmployeesRevenues Results

before taxes

2012 25,301 1,372 35,586

2011 23,530 1,637 34,390

2010 20,471 1,431 36,744

2009 18,830 1,446 35,225

2008 17,711 1,383 34,603

2007 15,207 1,366 30,600

2006 13,583 1,156 28,091

2005 12,189 872 24,967

2004 10,831 739 19,920

2003 9,473 606 18,605

2001 8,933 316 16,756

1998 4,546 178 15,219

1995 3,249 203 11,292

1992 2,419 37 9,028

1989 1,214 49 5,369

1986 434 20 2,823

HISTORICAL EVOLUTION 1986-2012*

4

46 Countries

Honduras

Direct Insurance

Reinsurance

Assistance

Canada

USATurkey

Mexico

Paraguay

Uruguay Chile

Peru

Argentina

El Salvador Colombia

Venezuela Guatemala

Ecuador

Costa Rica Panama

Dominican Republic Puerto Rico

Nicaragua Philippines

Russia

Egypt

Jordan

Bahrain India

China

UK

Brazil

Dubai

Algeria

Tunisia

Portugal

Ireland

France

Belgium

Italy

Libya

Spain

Global Risks

Germany Luxembourg

Hungary

Greece

Malta Japan

Taiwan

Australia

MAPFRE GROUP’s INTERNATIONAL PRESENCE

MAPFRE REJune 2013

6

MAPFRE RE’s EVOLUTION

1982 Constitution of MAPFRE RE, SPAIN

1984 Opening of the Representative Office in MEXICO

1986 Opening of the Representative Office in MANILA

1988 Constitution of MAPLUX RE, LUXEMBOURGOpening of the Representative Office in MILANOpening of the Representative Office in CARACASAcquisition of CAJA REASEGURADORA, CHILE

1989 Acquisition of CIAR, BELGIUM

1990 Opening of the Representative Office in BUENOS AIRES

1991 Opening of the Representative Office in LISBONAcquisition of REASEGURADORA HEMISFERICA, COLOMBIAOpening of the Representative Office in LONDON

1993 Opening of the Representative Office in ATHENS

1994 Conversion of the LONDON Representative Office into Branch Office

1995 Incorporation of ITSEMAP

1996 Opening of the Representative Offices in LIMA and SAO PAULO

1997 New Branch Office in BRUSSELS

2000 Creation of MAPFRE REINSURANCE CORPORATION (MRC) in NEW JERSEY, USA

2004 New Branch Office of MRC in TORONTO, CANADA

2005 MAPFRE RE accredited in NEW YORK, USA

2006 New Branch Office in MUNICH

2007 Transfer of MRC Toronto Branch to MAPFRE RE

2008 Constitution of MAPFRE RE do BRAZIL (local reinsurer)Reinsurance representative within MAPFRE SA Rep. office in BEIJING

2011 New Branch Office in Paris (Life & Personal Lines)Conversion of the MILAN Representative Office into Branch OfficeConversion of the BUENOS AIRES Representative Office into Branch Office

7

INTERNATIONAL PRESENCE

Manila (Philippines)Beijing (China) Rep. in MAPFRE S.A.

••

•

•

•

•

•

•

New Jersey (USA)Toronto (Canada). Branch Office

Munich (Germany). Branch Office

Milan (Italy). Branch Office

London (UK). Branch Office

Lisbon (Portugal)

Brussels (Belgium). Branch Office

Madrid (Spain). Head Office

••

AsiaUSA / Canada

• São Paulo (Brazil)

• Santiago (Chile)

• Mexico D.F. (Mexico)

• Caracas (Venezuela)

• Bogota (Colombia)

Buenos Aires (Argentina)•

Latin AmericaEurope

Paris (France). Branch Office - (Life & Personal Lines)•

GEOGRAPHICAL NETWORK

8

MAPFRE RE’s SHAREHOLDERS

Data as at 31.12.2012

COMPANY %

MAPFRE S.A. (Spain) 91.5%

Ecclesiastical Insurance (UK) 3.8%

Societá Cattolica di Assicurazione (Italy) 2.2%

Vaudoise Assurances Holding (Switzerland) 1.2%

Shelter Mutual Insurance Co. (USA) 1.0%

MAAF Assurances (France) 0.3%

9

RATING MAPFRE RE

Agency Rating

Standard & Poor’s (1) BBB +

A. M. Best (2) A

(1) Outlook Negative : Rating updated on 25th October 2012.

(2) Outlook Negative : Rating updated on 26th June 2012.

10

P&L ACCOUNT INFORMATION

MAPFRE RE CONSOLIDATED 2004 2005 2006 2007 2008 2009 2010 2011 2012∆ 2012 s/ 2011

Gross Written Premium 1,132.6 1,337.4 1,437.7 1,601.2 1,778.6 2,053.7 2,371.6 2,630.7 2,844.5 +8.1%

Net Premium Earned 624.1 835.4 877.6 1,005.5 1,137.8 1,311.2 1,479.9 1,749.0 1,786.2 +2.1%

Net Incurred Losses -381.8 -563.6 -514.3 -619.4 -741.6 -843.9 -987.5 -1,258.9 -1,229.4 -2.3%

Net Commissions and Expenses -214.7 -268.8 -302.3 -318.4 -346.5 -388.4 -422.2 -497.1 -513.1 +3.2%

Net Technical Result 27.5 3.0 61.0 67.7 49.7 78.9 70.3 -7.3 43.6 697.3%

Financial Income 34.6 51.4 54.7 64.0 97.9 80.0 103.2 115.0 77.5 -32.6%

Result before taxes 62.1 54.4 115.7 131.7 147.6 158.9 173.4 107.7 121.1 +12.4%

Net Result (after taxes) 41.1 32.3 77.2 87.8 103.6 112.6 124.1 78.6 87.1 +10.8%

€ Million

11

BALANCE SHEET INFORMATION

2003 2005 2007 2008 2009 2010 2011 2012 ∆ 2012 s/ 2011

Investments 973.2 1,713.1 2,004.1 2,173.2 2,487.5 2,685.8 2,905.5 3,240.2 +11.5 %

Total Assets 1,429.6 2,545.2 2,879.9 3,130.7 3,476.0 4,087.9 4,363.5 4,612.8 +5.7 %

Shareholders’ Funds 325.6 622.7 725.2 742.8 839.7 848.4 847.7 968.6 +14.3%

R.O.E. 8.9% 5.3% 12.8% 14.1% 14.0% 14.4% 9.3% 9.7 --

€ Million

12

EVOLUTION OF ACCOUNTED GROSS PREMIUM

+18%

+31%

+11.4%

+11.1%

+7.5%

+15.5%

+15.5%

+10.9%

€ Million

+8.1%

13

EVOLUTION R.O.E.

MAPFRE RE has consistently produced positive results. A Capital Increase has never been required to cover losses.

They have been used to finance the company's development.

0,0%

2,5%

5,0%

7,5%

10,0%

12,5%

15,0%

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

SG IFRS

14

GROSS PREMIUMS BY GEOGRAPHIC AREA

Spain &Portugal

41%

Rest of Europe

6%

Latin America

44%

AAA1%

USA & Canada

8%

Spain &Portugal

6%

Rest ofEurope

47%

LatinAmerica

24%

AAA15%

USA & Canada

8%

44,9%

55,1%

MAPFRE NON GROUP

Underwriting Year 2013

15

DISTRIBUTION OF PREMIUM BY TYPE OF BUSINESS

XL14,5%

Facultative11,3%

Proportional74,2%

Proportional70,0%

XL20,5%

Facultative9,5%

Year 2003 Year 2013

Total Portfolio

16

DISTRIBUTION OF PREMIUM BY LINE OF BUSINESS

(by Underwriting Year)

YEAR 2013YEAR 2003

Property55,2%

CAT13,2%

Agricultural2,7%

Motor / TPL6,7%

Bonds & Credit6,4%

M.A.T.6,2%

Assistance0,9%

Life, Accident, Health8,9%

Total Portfolio

Property30,7%

CAT19,5%

Agricultural5,2%

Motor / TPL14,3%

Bonds & Credit5,9%

M.A.T.5,1%

Assistance1,3%

Life, Accident, Health18,0%