Slide 1: 9M 2021 Results
9M 2021 Results Analyst & Investor presentation October 29th, 2021
Slide 2: Key highlights 9M 2021 > on track to meeting 2021 guidance
Key highlights 9M 2021 > on track to meeting 2021 guidance - Successful adaptation of business model to new environment COVID - Life Protection and Health claims remain high in Latin America, but are expected to IMPACTS normalize in the coming quarters - Normalization of Auto combined ratio, especia
Slide 3: Key Figures > 9M 2021
Key Figures > 9M 2021 Δ at constant 9M 2021 Δ exchange rates Revenue 19,783 3.8% 6.8% Total written and accepted premiums 16,632 7.0% 10.3% - Non-Life 13,291 6.8% 10.2% - Life 3,341 7.4% 10.9% Ex-restructuring provision Non-Life Combined Ratio - MAPFRE S.A. 96.5% 1.3 p.p 95.8% Non-Life Loss Ratio 67
Slide 4: Adjusted attributable result
Adjusted attributable result Δ Q3 vs. 9M 2020 9M 2021 Δ (mn) Δ (%) Q1 2021 Q2 2021 Q3 2021 Q2 (mn) Attributable result 450.4 524.4 74.0 16.4% 173.3 190.7 160.4 (30.3) (1) NatCat claims (65.5) (92.4) (26.9) 0.0 0.0 (92.4) (92.4) Direct insurance operations (25.6) 0.0 25.6 0.0 0.0 MAPFRE RE (39.9) (92
Slide 5: Key figures > by business unit
Key figures > by business unit Premiums – Breakdown by business unit Premiums Attributable result Combined ratio 9M 2021 Δ% 9M 2021 Δ mn Δ% 9M 2021 Δ p.p. IBERIA (1) 5,704 7.4% 329.9 (3.9) -1.2% 96.2% 3.7 p.p ASISTENCIA BRAZIL 2,534 6.7% 50.1 (31.0) -38.3% 87.3% 0.5 p.p MAPFRE RE 2.1% LATAM NORTH 1,
Slide 6: Key figures > Life business > insurance units
Key figures > Life business > insurance units Key figures 9M 2021 Δ mn YoY Δ YoY Life Premiums 3,341.2 230.6 7.4% IBERIA 1,389.3 221.7 19.0% BRAZIL 863.4 (39.8) -4.4% OTHER (1) 1,088.6 48.7 4.7% COVID claims – Life Protection – breakdown (3) Life Attributable Result 100.0 (20.2) -16.8% Δ mn Q1 2021
Slide 7: Assets under management
Assets under management Market value Breakdown by Asset Class 12.31.2020 09.30.2021 %Δ 12.31.2020 09.30.2021 Government fixed income 23.4 23.1 -1.1% 56.2% 51.0% Spain 12.8 12.4 -2.8% 34.0% 27.3% Italy 2.4 2.8 16.5% 5.4% 6.1% Rest of Europe 2.0 1.8 -12.1% 4.1% 3.9% United States 1.5 1.6 2.4% 3.0% 3.4
Slide 8: Investment portfolios
Investment portfolios Euro area – fixed income portfolios – actively managed Realized financial gains & losses – Euro area (€ mn) 1 Market value Accounting Market yield Modified Non-Life Life Total (€bn) Yield (%) (%) duration (%) 9M 2020 9M 2021 9M 2020 9M 2021 9M 2020 9M 2021 NON-LIFE 12.31.2020 7
Slide 9: Shareholders' equity
Shareholders’ equity Currency conversion differences Sensitivity to 1 09.30.2021 Δ % Δ currency pp move in currency Total -1,803 ** 113 - Change in shareholders’ equity of which: Δ Year to Δ Quarter to Date Date US dollar 425 124 5.4% 23 Balance at beginning of period 8,536 8,506 Brazilian real -939
Slide 10: Capital position & credit metrics
Capital position & credit metrics Capital structure (€ bn) Solvency II position (€ mn) Leverage (1) 23.3% 24.2% 12.8 13.0 06.30.2021 0.9 1.0 1.0 1.0 Eligible Own Funds (EOF) 9,281 1.1 1.1 Solvency Capital Requirement (SCR) 4,772 EOF-SCR 4,509 9.8 9.8 Solvency II ratio 194.5% (1) Fully loaded 181.6%
Slide 11: Closing remarks
Closing remarks IBERIA Focused on transformation while outperforming the market with strong technical margins USA Successful streamlining and focus on the profitable Northeast region LATAM Business model successfully adapted to a challenging but improving situation MAPFRE RE Tariff increases and und
Slide 12: 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 13: 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 14: 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