Slide 1: Filing to Spanish Securities and Exchange Commission
Madrid, July 26, 2021 SPANISH SECURITIES AND EXCHANGE COMMISSION Please find attached the documentation to be presented to investors in upcoming meetings. Ángel L. Dávila Bermejo General Counsel
Slide 2: 6M 2021 Results Analyst & Investor presentation
6M 2021 Results Analyst & Investor presentation July 26th, 2021
Slide 3: Key highlights 6M 2021
Key highlights 6M 2021 > on track to meeting 2021 guidance with solid results in core markets - Successful adaptation of business model to new environment COVID - Direct claims at insurance units, mainly in Life Protection and Health in Latin America, offset IMPACTS by lower Auto frequency - Improve
Slide 4: Key Figures > 6M 2021
Key Figures > 6M 2021 Δ at constant 6M 2021 Δ exchange rates Revenue 14,083 6.1% 10.7% Total written and accepted premiums 11,663 6.2% 11.3% - Non-Life 9,347 6.7% 11.7% - Life 2,316 4.3% 9.8% Non-Life Combined Ratio - MAPFRE S.A. 95.1% -1.6 p.p Non-Life Loss Ratio 66.0% -1.6 p.p Non-Life Expense Rat
Slide 5: Adjusted attributable result
Adjusted attributable result 6M 2020 6M 2021 Δ (mn) Δ (%) Q1 2021 Q2 2021 Δ (mn) Attributable result 270.7 364.0 93.3 34.5% 173.3 190.7 17.4 (1) NatCat claims (61.2) 0.0 61.2 0.0 0.0 0.0 Direct insurance operations (25.8) 25.8 MAPFRE RE (35.4) 35.4 COVID-related claims (MAPFRE RE) (56.9) (13.8) 43.1
Slide 6: Key figures > by business unit
Key figures > by business unit Premiums – Breakdown by business unit Premiums Attributable result Combined ratio 6M 2021 Δ% 6M 2021 Δ mn Δ% 6M 2021 Δ p.p. ASISTENCIA 1.8% IBERIA 4,252 6.9% 206.0 (15.1) -6.8% 96.3% 2.4 p.p MAPFRE RE 24.6% BRAZIL 1,596 -1.0% 36.3 (24.0) -39.8% 86.1% -2.8 p.p IBERIA 32
Slide 7: Key figures > Life business > insurance units
Key figures > Life business > insurance units Key figures 6M 2021 Δ mn Δ Life Premiums 2,316.0 96.1 4.3% IBERIA 1,001.7 114.8 12.9% BRAZIL 551.3 (58.7) -9.6% Life Protection attributable result - breakdown OTHER (1) 763.0 40.0 5.5% Life Attributable Result 69.6 (22.1) -24.1% 6M 2021 Δ mn IBERIA 86.7
Slide 8: IBERIA > Key highlights
IBERIA > Key highlights Premiums Attributable result Combined ratio 6M 2021 Δ% 6M 2021 Δ mn Δ% 6M 2021 Δ p.p. Excluding voluntary early IBERIA 4,252 6.9% 206.0 (15.1) -6.8% 96.3% 2.4 p.p 93.4% retirement scheme of which: MAPFRE ESPAÑA (1) 3,235 5.5% 102.7 (30.1) -22.7% 96.9% 2.4 p.p MAPFRE VIDA 1,01
Slide 9: IBERIA > 2021 outlook and priorities
IBERIA > 2021 outlook and priorities Focused on defending our portfolio, gaining market share and cost contention Outlook Priorities •Top line > • Adaptation of operational model > - New vehicle sales remain at low levels, but - Voluntary retirement scheme (estimated cost €75 mn) with an improving o
Slide 10: IBERIA > Bancassurance agreements
IBERIA > Bancassurance agreements Optimizing Bankia exit value and rebuilding the bancassurance channel Bankia Santander | MAPFRE › Making positive advances in the exit process › Successful agreement with high growth potential › Transaction expected to be completed by year end, pending pertinent reg
Slide 11: Assets under management
Assets under management Market value Breakdown by Asset Class 12.31.2020 06.30.2021 %Δ 12.31.2020 06.30.2021 Government fixed income 23.4 22.4 -4.1% 56.2% 50.3% Spain 12.8 12.2 -4.5% 34.0% 27.3% Italy 2.4 2.7 13.3% 5.4% 6.0% Rest of Europe 2.0 1.6 -22.3% 4.1% 3.5% United States 1.5 1.4 -6.4% 3.0% 3.
Slide 12: Investment portfolios
Investment portfolios Euro area – fixed income portfolios – actively managed Realized financial gains & losses – Euro area 1 Non-Life Life Total Market value (€bn) Accounting Market yield Modified 6M 2020 6M 2021 6M 2020 6M 2021 6M 2020 6M 2021 Yield (%) (%) duration (%) IBERIA 17.4 -1.6 2.0 3.3 19.
Slide 13: Shareholders' equity
Shareholders’ equity Change in shareholders’ equity (€ mn) Currency conversion differences (€ mn) Sensitivity to 1 06.30.2021 Δ % Δ currency pp move in Balance at 12/31 previous year 8,536 currency Result for the period 364 Total -1,796 ** 120 - Dividends -231 of which: Net unrealized capital gains
Slide 14: Capital position & credit metrics
Capital position & credit metrics Capital structure (€ bn) Solvency II position (€ mn) Leverage (1) 23.3% 23.7% 12.8 13.0 03.31.2021 0.9 1.0 1.0 1.0 Eligible Own Funds (EOF) 9,436 1.1 1.1 Solvency Capital Requirement (SCR) 4,695 EOF-SCR 4,741 9.8 9.9 Solvency II ratio 201.0% (1) Fully loaded 187.8%
Slide 15: Closing remarks
Closing remarks IBERIA Outperforming market with strong underlying technical margins USA Successful streamlining and solid underwriting results in the Northeast LATAM Adapting business model to challenging situation due to the pandemic MAPFRE RE Tariff increases and prudent underwriting approach con
Slide 16: Investor Relations
Investor Relations For further information, please contact or visit: Email: IR@mapfre.com Telephone: (+34) 91 581 23 18 Corporate website: www.mapfre.com Financial documentation center: www.mapfre.com/en/financial-information/ Felipe Navarro Leandra Clark Marta Sanchidrián Fernando García de la Sant
Slide 17: Terminology
Terminology Revenue Top line figure which includes premiums, financial income, and revenue from non-insurance entities and other revenue Combined ratio – Non-Life Expense ratio + Loss ratio Expense ratio – Non-Life (Operating expenses, net of reinsurance – other technical revenue + other technical e
Slide 18: Disclaimer
Disclaimer This document is purely informative. Its content does not constitute, nor can it be interpreted as, an offer or an invitation to sell, exchange or buy, and it is not binding on the issuer in any way. The information about the plans of the Company, its development, its results and its divi