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