Mapfre Sa · BME:MAP
Mapfre Sa — Merger or Acquisition (December 2007)
18 slides from Mapfre Sa's merger presentation, Dec 17, 2007
Slide 1: Reorganisation of the MAPFRE-CAJA MADRID alliance
Reorganisation of the MAPFRE- CAJA MADRID alliance Presentation for investors and analysts 17 December 2007 Nº 2007 - 41
Slide 2: Overview of the transaction, Milestones, Appendix
Overview of the transaction Milestones Appendix 2 Nº 2007 - 41
Slide 3: Executive summary
Executive summary MAPFRE and CAJA MADRID have announced the reorganisation of the strategic alliance signed in 2000: – The commercial cooperation between both groups will be continued and strengthened; current exclusivity agreements will remain in place. – MAPFRE-CAJA MADRID HOLDING will be incorpor
Slide 4: CAJA MADRID and MAPFRE will reorganise their strategic alliance
CAJA MADRID and MAPFRE will reorganise their strategic alliance The distribution agreement between both groups will continue: MAPFRE’s insurance products will carry on being sold through CAJA MADRID’s network, Integration of while CAJA MADRID’s banking products will continue being sold through MAPFR
Slide 5: CAJA MADRID will remain as MAPFRE S.A.'s strategic partner
CAJA MADRID will remain as MAPFRE S.A.’s strategic partner The exchange ratio reflects a balanced valuation of the assets to be exchanged. Shareholdings will be contributed under the following parameters: – A 15% stake in MAPFRE S.A., through the delivery of 401.5 million new shares, which MAPFRE S.
Slide 6: Commercial implications of the new agreement
Commercial implications of the new agreement Exclusive The exclusive right of MAPFRE to distribute insurance products through CAJA MADRID’s network, and of CAJA MADRID to distribute banking products distribution as a through MAPFRE’s network will remain in force. strategic asset of the alliance Supp
Slide 7: Current organisational chart
Current organisational chart MAPFRE S.A. 51% 88% MAPFRE - CAJA MADRID HOLDING MAPFRE RE MAPFRE VIDA MAPFRE MAPFRE MAPFRE MAPFRE 100% 100% 89% 87.6% MAPFRE INVERSIÓN 100% 100% MAPFRE SEGUROS AUTO- INMUEBLES AMÉRICA MAPFRE VIDA AMÉRICA PENSIONES GENERALES MÓVILES VIDA 100% MAPFRE ASISTENCIA 100% MAPFR
Slide 8: Expected new organisational chart
Expected new organisational chart MAPFRE S.A. 100% 100% 88% 100% MAPFRE MAPFRE MAPFRE VIDA 89% MAPFRE AUTO- EMPRESAS MAPFRE INVERSION MAPFRE RE MAPFRE VIDA PENSIONES AMÉRICA(1) MÓVILES 100% 100% MAPFRE MAPFRE CAJA 51% 50% BANKINTER 87.5% MAPFRE 100% MAPFRE SEGUROS CAUCIÓN Y MADRID VIDA INTER- ASISTE
Slide 9: Benefits of the new structure
Benefits of the new structure Increased transparency: – Simpler organisational setup. – Reinforcement of the bancassurance and assurfinance model successfully applied to date. – CAJA MADRID’s stake in MAPFRE will align its interests with MAPFRE’s other shareholders. – After the capital increase, FUN
Slide 10: Positive impact on profits
Positive impact on profits Net profits(1) EPS 608.38 22.73 +20.4% +2.4% 22.20 505.20 9M 2007 PRE- 9M 2007 POST- 9M 2007 PRE- 9M 2007 POST- REORGANISATION REORGANISATION REORGANISATION REORGANISATION (pro forma) (pro forma) Figures in million euros Figures in euro cents 1) Result after tax and minori
Slide 11: Historical evolution of the alliance
Historical evolution of the alliance MAPFRE products sold through the CAJA MADRID's products originated CAJA MADRID network by MAPFRE’s network Non Life- Premiums 3,505.7 183.8 150.0 125.5 2,944.0 100.3 81.4 2002 2003 2004 2005 2006 1,639.0 Life – Funds under management 5,293.8 5,360.9 896.9 4,713.0
Slide 12: Breakdown of the net attributable profit
Breakdown of the net attributable profit(1) Current Pro forma Other businesses Other businesses 1.9% 2.4% Life (Abroad) Life (Abroad) 2.0% 2.4% Non-Life (Abroad) Non-Life (Abroad) 7.3% 10.3% Reinsurance 10.0% Life (Spain) 10.3% Life (Spain) 12.8% Reinsurance 12.0% Non-Life (Spain) Non-Life (Spain) 6
Slide 13: Milestones
Overview of the transaction Milestones Appendix 13 Nº 2007 - 41
Slide 14: Milestones needed to complete the transaction
Milestones needed to complete the transaction 1. Approval by MAPFRE’s and CAJA MADRID’s Boards of Directors of: – New Framework Agreement (January 2008); – Legal structure of the proposed transactions (January 2008). 2. Approval by MAPFRE’s and MAPFRE-CAJA MADRID HOLDING’s AGMs (March 2008). 3. Rele
Slide 15: Appendix
Overview of the transaction Milestones Appendix 15 Nº 2007 - 41
Slide 16: Details on the EPS accretion analysis
Details on the EPS accretion analysis 9M 2007 12M 2006(1) RESULT AFER TAX AND MINORITY INTERESTS, CURRENT 505.2 610.2 49% OF MAPFRE-CAJA MADRID HOLDING TO BE CONSOLIDATED From MAPFRE SEGUROS GENERALES 42.9 51.9 From MAPFRE CAJA SALUD 7.4 8.1 From MAPFRE EMPRESAS 35.0 38.6 From MAPFRE VIDA - agents n
Slide 17: Investor Relations Department
Investor Relations Department Luigi Lubelli Finance Director +34-91-581-6071 Jesús Amadori Carrillo +34-91-581-2086 Alberto Fernández-Sanguino +34-91-581-2255 Beatriz Izard Pereda +34-91-581-2061 Antonio Triguero Sánchez +34-91-581-5211 Marisa Godino Alvarez Assistant +34-91-581-2985 MAPFRE S.A. Inv
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 evolution, its results and its divide