Madrid, July 28, 2022
SPANISH SECURITIES AND EXCHANGE COMMISSION (CNMV)
In accordance with article 227 of the Recast Text of the Securities Market Act, MAPFRE S.A. (MAPFRE) hereby gives notice to the Spanish Securities and Exchange Commission of the following
OTHER RELEVANT INFORMATION
Please find attached the documentation to be presented to investors in upcoming meetings.
Ángel L. Dávila Bermejo General Counsel
6M 2022 Results
Analyst & Investor presentation July 28th, 2022
2022-24 Strategic Plan on track and commitment to sustainable dividend path
Robust growth trends in
main markets with
tailwinds from currencies
PREMIUMS +7.7%*
IBERIA +2%*
MAPFRE RE +14%
BRAZIL +19%*
Disciplined growth in profitable
lines of business, leveraging
multi-channel approach
Focus on organic growth with
extremely prudent M&A
strategy
Benefitting from diversification and restructuring, focused on profitability
Resilient profitability in core
operations
High level of business
diversification with negligible
exposure to Ukraine conflict
Improved combined ratios in
General P&C and Life
Protection, mitigating pressure
on Motor and Health
Reaching final stages of
restructuring processes
Executing Motor profitability initiatives across all regions
Challenging context >impact
from inflation, changes in driving patterns and frequency at pre- Covid levels or even higher
Tariffs > rate increases on both
new business and renewals
Cost contention >especially
claims costs (i.e. spare parts and provider network management)
Strict underwriting measures >
portfolio pruning
Financial strength and
flexibility
Strong Solvency II ratio (205%) as of March 2022
April Tier 3 issuance to boost
ratio by over 10 p.p.,
mitigating the fall in
shareholders' equity in Q2
High level of liquidity and
comfortable with current debt
levels
Prudent approach to
investments > low credit risk
and decreasing portfolio
duration
- Adjusted at constant exchange rates and excluding the impact of the multi-year policy in Mexico and the exit of BANKIA Vida in 2021, as applicable
2
Key Figures >6M 2022
6M 2022 | on a like for | |||||
like basis | (1) | |||||
Total written and accepted premiums | 12,510 | 7.3% | 7.7% | |||
- Non-Life | 10,106 | 8.1% | 9.2% | |||
- Life | 2,404 | 3.8% | 1.7% | |||
Non-Life Combined Ratio - MAPFRE S.A. | 98.3% | 3.2 p.p | ||||
Non-Life Loss Ratio | 71.2% | 5.2 p.p | ||||
Non-Life Expense Ratio | 27.1% | -2.0 p.p | ||||
Non-Life Combined Ratio - Insurance units | 99.1% | 3.9 p.p | ||||
Attributable result | 337.6 | -7.3% | ||||
Excluding | ||||||
non-operating | ||||||
items | ||||||
ROE | (2) | 9.2% | 0.2 p.p | 8.4% | ||
Balance sheet | (2) | |||||
Assets under management | 53,075 | -8.5% | ||||
Shareholders' equity | 7,629 | -9.9% | ||||
3M 2022 | ||||||
Solvency ratio | (2) | 205.3% | -1.0 p.p | |||
Premium growth | 7.3% |
Currency movements | -4.9% |
Multi-year policy (Mexico) | 4.5% |
BANKIA | 0.8% |
Premium growth (like for like) | 7.7% |
- At constant exchange rates and excluding the impact of the multi-year policy in Mexico and the exit of BANKIA Vida in 2021, as applicable
- Variation calculated against data at December 31st, 2021
Million euros | 3 |
Adjusted attributable result & non-operating & operating extraordinary impacts
6M 2021 | 6M 2022 | (mn) | (%) | |||||
Attributable result | 364.0 | 337.6 | (26.4) | -7.3% | ||||
Non-operating extraordinary impacts | (1) | 7.8 | 7.8 | |||||
Attributable result | 364.0 | 329.8 | (34.2) | -9.4% | ||||
(adjusted for non-operating extraordinary impacts) | ||||||||
Operating extraordinary impacts | (49.1) | (60.2) | (11.1) | |||||
NatCat claims | (2) | (88.0) | (88.0) | |||||
COVID-related claims (Life Protection LATAM & MAPFRE RE) | (75.0) | (22.4) | 52.6 | |||||
Financial Gains & Losses | (3) | 18.5 | 22.2 | 3.7 | ||||
Other | (4) | 7.4 | 28.0 | 20.6 | ||||
Attributable result | 413.1 | 390.0 | (23.2) | -5.6% | ||||
(adjusted for operating & non-operating extraordinary impacts) | ||||||||
- Includes net gains (€8.9 mn) from the sale of operations in Australia, Turkey and the Middle East and the impact from a restructuring provision (-€1.1 mn)
- The total includes impacts at MAPFRE RE (-€51 mn), and insurance units in Brazil (-€28 mn) and Paraguay (-€9 mn)
- Net of writedowns, in actively managed financial investment portfolios in euro area and MAPFRE USA and other financial income & expenses, as well as real estate
- 2022 figures include various non-recurring tax impacts; 2021 figures include the impacts from the voluntary retirement scheme in IBERIA, a release of an earnout provision and the contribution of real estate to a joint venture vehicle and various asset sales
Million euros | 4 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Mapfre SA published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 06:27:04 UTC.