Slide 1: CNMV Other Relevant Information filing
Madrid, February 14, 2024 SPANISH SECURITIES AND EXCHANGE COMMISSION (CNMV) In accordance with article 227 of Law 6/2023, of March 17, on the Securities Market and Investment Services, MAPFRE, S.A. (MAPFRE) hereby gives notice to the Spanish Securities and Exchange Commission of the following OTHER
Slide 2: February 14, 2024
February 14, 2024
Slide 3: Record premiums and revenues
RECORD PREMIUMS AND SUBSTANTIAL REVENUES IMPROVEMENT IN PROFITABILITY RESULTS 2023 COMMITMENT TO OUR SHAREHOLDERS
Slide 4: Key figures
KEY FIGURES DISCLAIMER: The figures and ratios in this activity report are presented under the accounting principles in force in each country, homogenized for comparison and aggregation between units and regions. As such, certain adjustments have been applied, the most relevant of which are the foll
Slide 5: What happened at MAPFRE in 2023?
WHAT HAPPENED AT MAPFRE IN 2023? Homogenized local accounting NON-LIFE Strong advance in premiums: +8.4% The combined ratio continues to improve AUTO LIFE Maximum focus on rates and underwriting to get Excellent growth back to profitability (+14.6%) FINANCIAL Improved profitability INCOME (+12%) Inv
Slide 6: Commitment to shareholders
COMMITMENT TO SHAREHOLDERS DIVIDEND YIELD OVER AVERAGE 9 SHARE PRICE CENTS 7.7% FINAL DIVIDEND 15 CENTS TOTAL FOR DIVIDENDS 2023 DIVIDEND AGAINST 2023 PAID 462 € 447M € 416M € 416M € 447M € 447M 2019 2020 2021 2022 2023 TOTAL € M
Slide 7: Fernando Mata
February 14, 2024 Fernando Mata
Slide 8: Consolidated revenue
REVENUE CONSOLIDATED REVENUE 32,239M CONSOLIDATED REVENUE 20,961 € +9.2% MAIN LINES DIRECT INSURANCE 8,491 5,956 3,068 2,254 6,109 OTHER 2,665 2,729 NON-LIFE LIFE FINANCIAL INCOME 1,996 +8.4% +14.6% +20.6% -7.1% GENERAL ACCIDENT LIFE LIFE TOTAL PREMIUMS +9.8%* AUTO P&C & HEALTH PROTECTION SAVINGS €2
Slide 9: 2023 earnings breakdown: attributable result
2023 – EARNINGS BREAKDWON ATTRIBUTABLE RESULT € 692M +7.7% +1,172 +809 +767 +692 -205 -400 -609 -75 NON-LIFE NON-CONTROLLING OPERATING GOODWILL NET LIFE OTHER* TAXES INTERESTS RESULTS WRITEDOWN EARNINGS 2022 €823M €722M -€148M -€314M -€441M €642M - €642M Homogenized local accounting / Million euros
Slide 10: Non-Life and Life Protection combined ratio
NON-LIFE AND LIFE PROTECTION COMBINED RATIO DECEMBER DECEMBER DECEMBER COMBINED RATIO 2021 2022 2023 AUTOMOBILE 100.8% 106.1% 106.0% GENERAL P&C 91.8% 87.9% 87.6% ACCIDENT & HEALTH 100.1% 100.1% 98.9% TOTAL NON-LIFE 97.5% 98.0% 97.2% LIFE PROTECTION 94.6% 83.1% 82.7% Homogenized local accounting
Slide 11: 2023 premiums and earnings by business unit
2023 – PREMIUMS AND EARNINGS BY BUSINESS UNIT ASISTENCIA INSURANCE MAPFRE RE MAWDY 8,833 9,808 €22,613M €7,856M +8.8% +10.3% PREMIUMS 5,136 4,672 6,116 2,682 1,740 1,291 472* IBERIA BRAZIL OTHER LATAM NORTH AMERICA EMEA REINSURANCE GLOBAL RISKS ASISTENCIA +15.8% +5.9% +13.3% +3.6% -2% +7.8% +12.2% +
Slide 12: Group balance sheet
GROUP GROUP BALANCE SHEET BALANCE TOTAL ASSETS €62,998M 59,626 62,998 SHEET +5.7% DECEMBER 2022 DECEMBER 2023 SHAREHOLDERS’ EQUITY 8,071 €8,071M 7,289 +10.7% 692 -447 566 1 -30 DECEMBER RESULT FOR UNREALIZED CURRENCY OTHER DECEMBER DIVIDENDS 2022 THE YEAR GAINS DIFFERENCES 2023 Homogenized local acc
Slide 13: Investments and cash
INVESTMENTS AND CASH FIXED INCOME 30,873 GOVERNMENT DEBT 22,675 Spain 9,676 INVESTMENT PORTFOLIO Rest of Europe 4,175 United States 1,748 €43,953M 82.8% Brazil 3,347 Latin America – Other 2,630 FIXED INCOME +6.2% AND OTHER Other countries 1,099 CORPORATE DEBT 8,198 ASSETS UNDER MANAGEMENT 4.7% Inves
Slide 14: New IFRS 9 & 17 rules
PUBLICLY QUOTED GROUP OF INSURANCE ENTITIES NEW IFRS 9 & 17 RULES 1 DOUBLE STANDARDS LOCAL 2 INSURANCE INSURANCE ENTITIES ACCOUNTING PRINCIPLES
Slide 15: MAPFRE now reports under IFRS 9 & 17
MAPFRE now reports its accounts under IFRS 9 & 17 IFRS 9 & 17 HOMOGENIZED LOCAL ACCOUNTING 12M 2023 Δ% 12M 2023 Δ% Premiums - - 26,917 9.7% Insurance revenue 24,781.0 9.1% - - Net result 677.2 20.2% 692 7.7% Total assets 54,947 5.3% 62,998 5.7% Shareholders’ equity 8,467 8.6% 8,071 10.7% Technical p
Slide 16: Share price
SHARE PRICE €5,984M MARKET CAPITALIZATION as on 12-31-23 IBEX 35 +22.7% STOXX INSURANCE 600 8.7% MAPFRE +7.3%
Slide 17: Antonio Huertas
February 14, 2024 Antonio Huertas
Slide 18: 2023 high level of meeting targets
2023 – HIGH LEVEL OF MEETING TARGETS PUBLIC STRATEGIC COMMITMENTS COMBINED ESG GROWTH RATIO INVESTMENTS 5 -6 % % ≈96 % 90 % +9.8% 97.2% +96.6% GENDER ROE SOLVENCY PAY GAP DEBT MARGIN 9 -10 % % 175% - 225% 23 -25 % % +/- 1 % 9.9% 198.1%* 22.7% 0.9% * Data as at Q3 2023
Slide 19: Conclusions: MAPFRE is growing despite uncertainty
HISTORIC GROWTH in revenue and premiums BUSINESS AND GEOGRAPHIC DIVERSIFICATION VERY POSITIVE CONCLUSIONS Life, Spain, LATAM ENVIRONMENT and Reinsurance for recurring lead profitable growth MAPFRE IS GROWING financial income DESPITE THE PROFITABLE PREVAILING AND UNCERTAINTY AUTO BUSINESS SUSTAINABLE
Slide 20: Where do we want to go? Transformation
CONCLUSIONS WHERE DO WE WANT TO GO? Transformation
Slide 21: Where do we want to go? Flexibility
CONCLUSIONS WHERE DO WE WANT TO GO? Flexibility: We adapt to the changing context
Slide 22: Where do we want to go? Profitability in Automobile
CONCLUSIONS WHERE DO WE WANT TO GO? Get back to being profitable in Automobile
Slide 23: Where do we want to go? Growth opportunities
CONCLUSIONS WHERE DO WE WANT TO GO? Growth opportunities
Slide 24: Thank you
THANK YOU @ahuertasmejias http://www.linkedin.com/in/antoniohuertasmejias @ahuertasmejias