Slide 1: Fernando Mata, Third Vice Chairman and CFO
FERNANDO MATA THIRD VICE CHAIRMAN AND CHIEF FINANCIAL OFFICER (CFO)
Slide 2: Dual Standards
DUAL STANDARDS 1 2 LISTED GROUP INSURANCE OF INSURANCE COMPANIES COMPANIES INSURANCE NEW STANDARDS ACCOUNTING IFRS 9 & 17 STANDARDS OF EACH COUNTRY 2
Slide 3: Results 2023
RESULTS 2023 REVENUE NET RESULT 2023 DIVIDEND 24.8BN € € 677M €462M +9.1% +20.2% +5.9% VERY SOLID SUBSTANTIAL COMMITMENT BUSINESS IMPROVEMENT IN WITH GROWTH PROFITABILITY SHAREHOLDERS 3 Million euros.
Slide 4: Business Unit Revenue
BUSINESS UNIT REVENUE INSURANCE LATAM MAPFRE RE REVENUE 9,275 +9.9% 8,017 +15.3% € 24.8BN 6,978 +9.1% 6,361 4,824 4,451 2,585 1,655 1,179 IBERIA BRAZIL OTHER LATAM REINSURANCE GLOBAL RISKS NORTH AMERICA EMEA +7.1% +13.9% +5.9% +17.2% +8.4% +1.3% +3.5% 4 Million euros
Slide 5: 2023 – Breakdown of Result
2023 – BREAKDOWN OF RESULT ATTRIBUTABLE RESULT 24,781 €677M +20.2% €752M +33.3% 928 1,648 1,041 677 -22,346 -1,394 -321 -589 -381 INSURANCE INSURANCE REINSURANCE INSURANCE FINANCIAL OTHER RESULT NON-CONTROLLING TAXES ATTRIBUTABLE REVENUE SERVICE SERVICE AND RESULT RESULTS BEFORE TAX INTERESTS RESULT
Slide 6: Consolidated Group Balance Sheet
CONSOLIDATED TOTAL INSURANCE CONTRACT GROUP BALANCE SHEET ASSETS €54.9BN LIABILITIES €38.4BN +5.3% +7.9% ATTRIBUTABLE INVESTMENTS EQUITY €44BN €8.5BN +6.6% +8.6% 6
Slide 7: Attributable Equity Development
ATTRIBUTABLE EQUITY DEVELOPMENT €8.5BN 9.2% ROE EXCL. SHAREHOLDERS’ EQUITY +8.6% GOODWILL WRITEDOWN 8.3% 7,797 8,467 CHANGES IN VALUE +€360M 677 -447 +680 -320 +80 DECEMBER 2022 ATTRIBUTABLE DIVIDENDS FINANCIAL INSURANCE CURRENCY DECEMBER 2023 RESULT INVESTMENTS LIABILITIES CONVERSION DIFFERENCES AN
Slide 8: Investments and Cash
INVESTMENTS AND CASH INVESTMENT PORTFOLIO €44.0BN +6.6% 76.5% FIXED INCOME AND OTHER FIXED INCOME 31,691 GOVERNMENT DEBT 23,004 Spain 9,612 Rest of Europe 4,104 4.7% United States Brazil 1,742 3,766 CASH Latin America - Other 2,659 14.4% Other countries 1,121 EQUITIES AND MUTUAL FUNDS 4.4% CORPORATE
Slide 9: Capital and Solvency, Capital Structure
CAPITAL AND SOLVENCY CAPITAL STRUCTURE €12.4BN SOLVENCY II RATIO 77.9% 7.0% EQUITY 198.1 %* SENIOR DEBT Tier 1 13.1% 83% SUBORDINATED 2.0% Tier 2 & 3 DEBT BANK DEBT 17% DEBT RATIO <23% 9 Millones *Data de euros. up to September 2023
Slide 10: The MAPFRE Share in 2023
THE MAPFRE SHARE IN 2023 1 2 3 4 5 209,140 3,079.5 €0.22 70.7% 8.8X NUMBER OF NUMBER EARNINGS PRICE/ PER SHAREHOLDERS OF SHARES PER SHARE BOOK VALUE (MILLION) (€ CENTS) 10
Slide 11: Shareholder Composition and Free Float
SHAREHOLDER COMPOSITION FREE FLOAT 1 FUNDACIÓN MAPFRE INSTITUTIONAL 16.6% 69.8% 2 RETAIL 13.1% 3 0.5% 30.2% TREASURY STOCK OTHER SHAREHOLDERS 11
Slide 12: Commitment with Shareholders
COMMITMENT WITH SHAREHOLDERS 7. 7% DIVIDEND YIELD ON AVERAGE 9cents SHARE PRICE FINAL DIVIDEND DIVIDEND PAYABLE FOR THE DIVIDENDS PAID OUT FISCAL YEAR 15 cents €447M €416€ €416M €447M €447M TOTAL TOTAL 2023 €462M 2019 2020 2021 2022 2023 12
Slide 13: Share Price and Market Capitalization
SHARE PRICE €5.98BN MARKET CAPITALIZATION at 12/31/2023 STOXX INSURANCE 600 8.7% IBEX 35 +22.7% MAPFRE +7.3% 13
Slide 14: New Standards IFRS 9 & 17
DUAL STANDARDS 1 2 LISTED GROUP INSURANCE OF INSURANCE COMPANIES COMPANIES INSURANCE NEW ACCOUNTING STANDARDS STANDARDS IFRS 9 & 17 OF EACH COUNTRY 14
Slide 15: Key Figures
KEY FIGURES PREMIUMS ATTRIBUTABLE NON-LIFE RETURN RESULT COMBINED ON EQUITY €26.9BN €692M RATIO 9.0% 97.2% € 767M 9.9% +9.7% +7.7% +19.4% -0.8p.p. EXCL. GOODWILL EXCL. GOODWILL WRITEDOWN WRITEDOWN 15
Slide 16: Premiums and Combined Ratio
PREMIUMS AND COMBINED RATIO MAIN DIRECT INSURANCE LINES OF BUSINESS PREMIUMS 8,491 COMBINED RATIO DEC. 2022 DEC. 2023 6,109 AUTO 106.1% 106.0% 2,729 GENERAL P&C 87.9% 87.6% 2,665 1,996 ACCIDENT & HEALTH 100.1% 98.9% TOTAL NON-LIFE 98.0% 97.2% GENERAL ACCIDENT & LIFE LIFE AUTO P&C HEALTH PROTECTION S
Slide 17: Premiums and Result by Business Unit
PREMIUMS AND RESULT BY BUSINESS UNIT MAWDY INSURANCE MAPFRE RE ASSISTANCE 9,808 €22,613 €7,856 +8.8% +10.3% PREMIUMS 8,833 5,136 4,672 6,116 2,682 1,740 1,291 472* IBERIA BRAZIL OTHER LATAM NORTH AMERICA EMEA REINSURANCE GLOBAL RISKS ASSISTANCE +15.8% +5.9% +13.3% +3.6% -2% +7.8% +12.2% +9.2% 361 37
Slide 18: Conclusions
CONCLUSIONS IFRS STANDARDS PRESENT A SIMILAR PICTURE OF MAPFRE: 1 2 3 SOLID FINANCIAL PROFITABILITY IN REVENUE SOLVENCY AND THE PROCESS OF GROWTH STRENGTH ACCELERATING 18
Slide 19: Thank you very much
19 Thank you very much. FERNANDO MATA THIRD VICE CHAIRMAN - CHIEF FINANCIAL OFFICER (CFO)