Slide 1: Year end 2013 results
Year end 2013 results Presentation for investors and analysts 11th February 2014
Slide 2: Contents
Contents 1 Key highlights 2 Consolidated financial information 3 Business development 4 Appendix 5 Financial supplement 6 Schedule and contacts 2
Slide 3: Key highlights
1 Key highlights The organic growth and underwriting profit have offset the impact of the appreciation of the Euro and the decrease in interest rates Revenues 25,889.3 2.3% Premiums 21,835.5 1.2% (1) Managed savings 33,614.1 8.3% Non-life combined ratio 96.1% 0.7 p.p. ROE 10.1% 1.1 p.p. Solvency mar
Slide 4: Highlights of the results
1 Key highlights Highlights of the results Growth in Non-Life insurance, with an excellent combined ratio, reflecting a significant cost-cutting effort in Spain Improvement in the underwriting and financial result in Life Assurance in a context of lower business volumes Significant decrease in non-r
Slide 5: The impact of currencies on results has been very significant
1 Key highlights The impact of currencies on results has been very significant At constant exchange rates, premiums would have grown 8.1% and results 26.3% Evolution of the key reference currencies for MAPFRE 1/1/2012 = Base 100 USD -5.9% TRY -17.0% BRL -25.4% VEF -35.8% ene-12Jan-12 mar-12 Mar-12 j
Slide 6: At constant exchange rates, the adjusted result would have remained virtually stable
1 Key highlights At constant exchange rates, the adjusted result would have remained virtually stable 2012 2013 % REPORTED ATTRIBUTABLE RESULT 665.7 790.5 18.7% Investment portfolio: net realised capital gains -92.3 Impairment of financial instruments, property and intangible assets 357.1 112.2 Non-
Slide 7: An 18% increase in dividends is proposed
1 Key highlights An 18% increase in dividends is proposed Interim dividend Final dividend In October, the Board of Directors resolved to pay an interim dividend The Board of Directors has agreed of 5 cents per share against the to propose to the AGM a final 2013 results... dividend against the 2
Slide 8: The Spanish economy shows signs of recovery
1 Key highlights The Spanish economy shows signs of recovery... GDP – quarterly growth (%) Employment – quarterly growth (%) 0.3 -0.1 0.3 -0.1 -0.2 -0.2 0.2 0.2 0.2 -0.4 -0.6 -0.3 0.1 0.1 -0.7 -0.6 -0.9 0.0 -1.0 -1.1 -1.1 -1.2 -1.3 -1.3 -1.4 -1.5 -0.1 -0.1 -0.1 -0.3 -0.3 -0.4 -0.4 -0.4 -0.4 -3.2 -0.
Slide 9: ...paving the way for the recovery of the insurance market
1 Key highlights ...paving the way for the recovery of the insurance market Non-Life Insurance - evolution Non-Life Insurance – elasticity 12% 1.82x 1.47x 1.24x 0.89x 0.81x 0.82x 0.72x 0.69x 1.15x 10% The impact of the economic crisis was 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 8% esp
Slide 10: A global company: a new structure to face new strategic challenges
1 Key highlights A global company: a new structure to face new strategic challenges MAPFRE S.A. Chairman & CEO Executive Committee Resources & Institutional Strategy & Finance Investments HR Coordination Development Internal Audit General Counsel Business - Clients Business Support BUSINESS UNITS: B
Slide 11: A global company: a new structure (II)
1 Key highlights A global company: a new structure to face new strategic challenges (II) Information by regional areas - 2013 figures Consolidated Atributable Regional area premiums result IBERIA 7,261.3 370.9 BRAZIL 5,195.1 152.0 LATAM SOUTH 2,989.0 122.8 NORTH AMERICA 2,014.0 107.0 EMEA 1,234.1 34
Slide 12: A global company: a new structure (III)
1 Key highlights A global company: a new structure to face new strategic challenges (III) Seeks maximum efficiency in the management of all the resources Increases the simplicity and transparency of the corporate structure Enhances customer focus, based on close business relationships and a common v
Slide 13: A global company: a new structure (IV)
1 Key highlights A global company: a new structure to face new strategic challenges (IV) 2 new corporate areas strengthen the customer focus and the quest for efficiency at a global level Promotes the development of a common strategy for each type of client Business-Clients (segmentation) Reinfo
Slide 14: MAPFRE and BANKIA enter into a comprehensive bancassurance agreement
1 Key highlights MAPFRE and BANKIA enter into a comprehensive bancassurance agreement... MAPFRE becomes BANKIA’s exclusive bancassurance provider The agreement covers all the insurance lines and includes a business plan, with access to a network of 1,900 branches MAPFRE acquires BANKIA’s 51% stake i
Slide 15: ...thus clearing up the main uncertainties that weighed on the stock
1 Key highlights ...thus clearing up the main uncertainties that weighed on the stock Shareholders’ structure Spanish Bancassurance economy Financing 15
Slide 16: Consolidated financial information
1 Key highlights 2 Consolidated financial information 3 Business development 4 Appendix 5 Financial supplement 6 Schedule and contacts 16
Slide 17: The international business continues to drive the Group's growth
2 Consolidated financial information The international business continues to drive the Group’s growth Premiums(1) Contribution to consolidated results Spain 28% Abroad 72% Spain 36% Abroad 64% EUR M % Life Spain 2,508.4 (10.7%) Non-Life Abroad 377.5 42.2% Non-Life Spain 229.8 25.7% Life Abroad 2,621
Slide 18: Information by business areas
2 Consolidated financial information Information by business areas Contribution to aggregate premiums Contribution to insurance results (1) (1) 2012 2013 2012 2013 Business area % % EUR M Business area % % EUR M SPAIN & PORTUGAL SPAIN & PORTUGAL 32.6% 29.1% 6,844.4 38.3% 36.3% 324.8 INSURANCE INSURA
Slide 19: Development of Non-Life insurance results
2 Consolidated financial information Development of Non-Life insurance results Non-Life business – Main business areas Premiums Underwriting result Combined ratio (1) Business area 2012 2013(2) % 2012 2013(2) % 2012 2013(2) SPAIN & PORTUGAL INSURANCE 4,427.1 4,283.3 -3.2% 388.7 249.8 -35.7% 91.2% 93
Slide 20: Development of Non-Life insurance results
2 Consolidated financial information Development of Non-Life insurance results Non-Life Account Key points 2012 2013 % The good development of premiums reflects the Written and accepted growth of the international business as well as of 15,478.5 16,277.7 5.2% reinsurance, which offset the impact o
Slide 21: Development of Life Assurance results
2 Consolidated financial information Development of Life Assurance results Life business – Main business areas Underwriting and financial Premiums result Business area 2012 2013(1) % 2012 2013(1) % SPAIN & PORTUGAL INSURANCE 3,080.5 2,561.1 -16.9% 87.6 98.5 12.4% MAPFRE BRASIL 1,823.8 1,699.8 -6.8%
Slide 22: Development of Life Assurance results
2 Consolidated financial information Development of Life Assurance results Life Account Key points 2012 2013 % The decrease in premiums reflects: – the decrease in Spain, mainly due to the Gross written and accepted 6,101.3 5,557.8 -8.9% absence of large corporate transactions (€354 premiums milli
Slide 23: Development of results from Other Business Activities
2 Consolidated financial information Development of results from Other Business Activities Other Business Activities(1) Key points 2012 2013 % Reflects: — the growth of the services business at MAPFRE Operating revenues 454.2 536.7 18.2% ASISTENCIA — the consolidation of FUNESPAÑA Operating expens
Slide 24: Consolidated result
2 Consolidated financial information Consolidated result 2012 2013 % Result on restatement of financial accounts -9.9 -43.3 --- Result before tax and minority interests 1,372.0 1,563.9 14.0% Taxes -396.5 -372.4 -6.1% Result after tax 975.5 1,191.5 22.1% Result after tax from discontinued operations
Slide 25: Balance sheet – key highlights
2 Consolidated financial information Balance sheet – key highlights 31.12.12 31.12.13 Goodwill 2,146.2 1,928.4 Reflects mainly the appreciation of the Euro and the impairment of intangible assets in Spain Other intangible assets 2,264.2 1,969.5 Other fixed assets 306.7 326.2 Cash & equivalents 1,0
Slide 26: A prudent investment policy adapted to the insurance business
2 Consolidated financial information A prudent investment policy adapted to the insurance business Breakdown by type of asset Breakdown by region(2) USA Other Mutual funds Other 2,917.1 (7.6%) 811.0 (2.1%) 848.1 (2.1%) 3,515.7 (8.7%) Other Latin America 2,598.5 (6.7%) Cash 1,162.8 (2.9%) Brazil 3,45
Slide 27: Fixed income portfolio: 77.2% of investments
2 Consolidated financial information Fixed income portfolio: 77.2% of investments Breakdown by issuer Sovereign Spain 11,367.9 58.4% Brazil 2,192.1 11.3% Italy 1,371.6 7.0% Colombia 514.0 2.6% Government & Malta 363.2 1.9% Multilateral Portugal 292.2 1.5% bodies Venezuela 278.0 1.4% 19,465.8 (62.4%)
Slide 28: Fixed income portfolio: 77.2% of investments
2 Consolidated financial information Fixed income portfolio: 77.2% of investments Breakdown by type of guarantee Breakdown by currency ABS Other guarantees Other currencies 648.0 (2.1%) 3,224.2 (10.3%) 2,049.7 (6.6%) Hybrid Real 1,058.7 (3.4%) 2,795.7 (9.0%) Covered bonds US Dollar 3,001.3 (9.6%) Or
Slide 29: Variation in equity
2 Consolidated financial information Variation in equity Statement of changes in equity Key points Shareholders' Minority TOTAL TOTAL Equity interests 2013 2012 BALANCE AS AT PRIOR YEAR END 7,810.5 2,325.8 10,136.3 9,726.6 Recovery in the market value of investments Additions and deductions accoun
Slide 30: Financing structure
2 Consolidated financial information Financing structure 2013 Capital structure Interest coverage(1) 36.5 Bank 30.1 31.1 financing (1.1%) 22.1 22.7 15.4 33.0 Equity 27.8 Ordinary debt 18.0 22.1 22.0 (85.2%) 12.4 (8.6%) 2008 2009 2010 2011 2012 2013 Hybrid debt EBITDA / interest coverage excluding op
Slide 31: Business development
1 Key highlights 2 Consolidated financial information 3 Business development 4 Appendix 5 Financial supplement 6 Schedule and contacts 31
Slide 32: Spain & Portugal Insurance Division
3 Business development Spain & Portugal Insurance Division Key highlights 2012 2013(1) % NON-LIFE BUSINESS 2012 2013(1) % Written and accepted premiums 4,427.1 4,283.3 -3.2% Written and accepted 388.7 249.8 -35.7% 7,507.6 6,844.4 -8.8% Underwriting result premiums Underwriting and financial result 3
Slide 33: Highlights of the results in Spain
3 Business development Highlights of the results in Spain In the Non-Life business, the variation in premiums reflects the deterioration of the market conditions, characterised Variation in by a decline in the demand for insurance products and a competitive environment, in which aggressive pricing
Slide 34: Highlights of the results in Spain (contd.)
3 Business development Highlights of the results in Spain (contd.) The development of the financial result reflects: Financial result the decrease in the volume of financial assets as a result of a lower volume of Non-Life technical reserves the decrease in interest rates net realisation gains
Slide 35: Spain & Portugal Insurance Division: Non-Life
3 Business development Spain & Portugal Insurance Division Non-Life Premiums in Spain Combined ratios(1) in Spain 2012 2013 Combined ratio 94.1% 95.5% MOTOR 2,056.4 -7.6% MOTOR Loss ratio 76.9% 77.9% Expense ratio 17.2% 17.6% Combined ratio 82.6% 88.6% COMMERCIAL 642.8 -10.1% COMMERCIAL Loss ratio 5
Slide 36: MAPFRE's model maintains its leadership in profitability and expenses
3 Business development MAPFRE’s model maintains its leadership in terms of profitability and expenses MOTOR combined ratio TOTAL NON-LIFE combined ratio 98.0% 97.9% 93.5% 92.8% 91.6% 92.8% 91.7% 89.8% 9M 2012 9M 2013 9M 2012 9M 2013 SECTOR excluding MAPFRE MAPFRE SECTOR excluding MAPFRE MAPFRE Sourc
Slide 37: Life business in Spain: activity indicators
3 Business development Spain & Portugal Insurance Division Life business in Spain: activity indicators GROSS WRITTEN AND ACCEPTED PREMIUMS 2012 2013 % CHANGE IN FUNDS UNDER MANAGEMENT (1) 2012 2013 (2) Regular premiums 464.5 430.3 -7.4% IFRS technical reserves 823.5 869.1 Single premiums 2,124.2 1,6
Slide 38: International Insurance Division
3 Business development International Insurance Division Key highlights MAPFRE AMÉRICA 2012 2013* % 2012 2013* % Gross written and accepted premiums 8,649.1 8,886.9 2.7% Written and accepted 10,833.9 11,419.0 5.4% Underwriting and financial result 668.8 730.6 9.2% premiums Other business activities 1
Slide 39: MAPFRE AMÉRICA: Premiums and results by countries
3 Business development International Insurance Division: MAPFRE AMÉRICA Premiums and results by countries PREMIUMS RESULTS (1) Local Local Currency Currency COUNTRY 2012 2013* % % 2012 2013* % % BRAZIL 4,761.4 5,036.1 5.8% 20.4% 485.5 548.5 13.0% 28.6% VENEZUELA 818.7 963.3 17.7% 73.7% 45.4 64.7 42.
Slide 40: MAPFRE AMÉRICA: Highlights of the Unit
3 Business development International Insurance Division: MAPFRE AMÉRICA Increase in the Unit’s results, due to: – the agreement reached with the Brazilian Government(1), which generates an attributable result of €46.9 Highlights million of the Unit – strong decrease in the tax rate to 18.3% (30.3%
Slide 41: MAPFRE AMÉRICA: Highlights by countries
3 Business development International Insurance Division: MAPFRE AMÉRICA Highlights Pre-tax result of €53.7 million and tax reduction of €58.4 million (€112.1 million overall), as a result of the BRAZIL by agreement reached between the private sector and the Government, concerning the PIS and COFIN
Slide 42: MAPFRE AMÉRICA: Highlights by countries
3 Business development International Insurance Division: MAPFRE AMÉRICA Highlights by COLOMBIA Growth in Life Assurance countries Increase in results as a consequence of: i) business growth, ii) improvement in the loss experience, and iii) realised capital gains of €7.1 million resulting from th
Slide 43: MAPFRE INTERNACIONAL: Premiums and results by countries
3 Business development International Insurance Division: MAPFRE INTERNACIONAL Premiums and results by countries (1) PREMIUMS RESULTS Local Local Currency Currency COUNTRY 2012 2013* % % 2012 2013* % % USA 1,513.9 1,543.2 1.9% 5.0% 99.5 122.1 22.7% 26.3% TURKEY 387.1 536.4 38.6% 52.1% 25.4 33.8 33.1%
Slide 44: MAPFRE INTERNACIONAL: Highlights of the Unit
3 Business development International Insurance Division: MAPFRE INTERNACIONAL Highlights of the Unit Transfer of the businesses of MAPFRE PORTUGAL to the Spain & Portugal Insurance Division and integration of the operations of MAPFRE PUERTO RICO, which were previously included in MAPFRE AMÉRICA’s
Slide 45: Global Businesses Division
3 Business development Global Businesses Division Key highlights 2012 2013 % % MAPFRE RE 3,253.7 14.4% Premiums & operating 4,887.9 5,502.7 12.6% MAPFRE GLOBAL RISKS 1,118.8 0.3% income MAPFRE ASISTENCIA 1,130.2 21.8% Underwriting and financial 192.6 276.5 43.6% result % Other non-technical result 2
Slide 46: Global Businesses Division: MAPFRE RE
3 Business development Global Businesses Division: MAPFRE RE Key figures Key highlights The development of premiums reflects: 2012 2013 % – the growth of the Non-Life business with third parties Gross written and accepted (+8.9%) and the formalisation of reinsurance operations 2,844.5 3,253.7 14.4
Slide 47: MAPFRE RE: Renewal campaign in 2014
3 Business development MAPFRE RE: Renewal campaign in 2014 The volume of third-party business renewals remained stable (+€4.2% at a constant exchange rate), thanks to the trust placed by clients in MAPFRE’s actual solvency, along with a successful renewal campaign Contract renewal terms have been lo
Slide 48: Global Businesses Division: MAPFRE GLOBAL RISKS
3 Business development Global Businesses Division: MAPFRE GLOBAL RISKS Key figures Key highlights Reflects: 2012 2013 % – the creation of the credit insurance JV SOLUNION, which is equity accounted, and Gross written and accepted 1,115.2 1,118.8 0.3% MAPFRE GLOBAL RISKS’ role as its reinsurer prem
Slide 49: Global Businesses Division: MAPFRE ASISTENCIA
3 Business development Global Businesses Division: MAPFRE ASISTENCIA Key figures Key highlights 2012 2013 % Organic growth in Asia and Europe Operating income 928.2 1,130.2 21.8% In North America, development of new distribution networks and contracts with large clients Underwriting result 44.9
Slide 50: Appendix
1 Key highlights 2 Consolidated financial information 3 Business development 4 Appendix 5 Financial supplement 6 Schedule and contacts 50
Slide 51: Variations in financial debt
4 Appendix Variations in financial debt Change 2011 2012 2013 y-o-y Senior debt COMMERCE - 12/2013 153.7 151.0 0.0 -151.0 Senior debt MAPFRE S.A. - 11/2015 --- 1,001.8 1,003.3 1.5 Subordinated debt - 7/2017 607.9 597.1 596.4 -0.7 Syndicated credit facility - 6/2018 (€750 M) --- --- 0.0 --- Operating
Slide 52: EBITDA coverage
4 Appendix EBITDA coverage 2008 2009 2010 2011 2012 2013 Earnings before tax (EBT) 1,383.2 1,446.2 1,431.0 1,636.9 1,372.0 1,563.9 Variation in equalisation reserves -- -- -- -- -- -- Adjusted EBT 1,383.2 1,446.2 1,431.0 1,636.9 1,372.0 1,563.9 Interest payments 140.6 94.6 86.1 72.1 78.4 100.6 - on
Slide 53: Equity, debt and leverage
4 Appendix Equity, debt and leverage 2008 2009 2010 2011 2012 2013 Shareholders' equity 4,902.2 6,165.7 6,541.9 7,042.9 7,810.5 7,833.5 Minority interests 814.2 928.1 1,253.9 2,683.7 2,325.8 2,060.2 Total equity 5,716.4 7,093.8 7,795.8 9,726.7 10,136.3 9,893.7 (1) Unrealised gains 941.8 886.9 795.2
Slide 54: Consolidated income statement
4 Appendix Consolidated income statement 2012 2013 % NON-LIFE INSURANCE AND REINSURANCE Gross written and accepted premiums 15,478.5 16,277.7 5.2% Premiums earned, net of ceded and retroceded reinsurance 12,978.4 13,229.4 1.9% Net claims incurred and variation in other technical provisions -8,748.9
Slide 55: Profit breakdown by units and companies
4 Appendix Profit breakdown by units and companies Contribution to consolidated result Net Minority 2013 2012 Result interests € Million % € Million % (1) SPAIN & PORTUGAL INSURANCE 324.8 324.8 275.9 MAPFRE VIDA 94.3 94.3 11.9% 81.6 12.3% MAPFRE FAMILIAR 153.8 153.8 19.5% 144.2 21.7% MAPFRE EMPRESAS
Slide 56: Breakdown of recurring results by units and companies
4 Appendix Breakdown of recurring results by units and companies Contribution to Non-recurring Recurring attributable consolidated result results result 2012 2013 % 2012 2013 2012 2013 % (1) SPAIN AND PORTUGAL INSURANCE 275.9 324.8 17.7% -251.9 -124.5 527.8 449.3 -14.9% MAPFRE VIDA 81.6 94.3 15.6% -
Slide 57: Expense and loss ratios
4 Appendix Expense and loss ratios RATIOS (1) (2) (3) Expense ratio Loss ratio Combined ratio 2012 2013 2012 2013 2012 2013 MAPFRE S.A. consolidated 28.0% 29.1% 67.4% 67.0% 95.4% 96.1% (4) SPAIN & PORTUGAL INSURANCE 21.2% 20.8% 70.0% 72.9% 91.2% 93.7% MAPFRE FAMILIAR 20.7% 20.2% 71.7% 74.1% 92.4% 94
Slide 58: Net financial income: selected information
4 Appendix Net financial income: selected information Breakdown of net financial and non-technical income (before taxes) 2012 2013 % Net financial income, Non-life 709.1 693.9 -2.1% - of which realised capital gains and impairments -99.8 92.0 --- - of which foreign exchange gains/(losses) -2.7 27.1
Slide 59: Net financial income: selected information (contd.)
4 Appendix Net financial income: selected information (contd.) Realisation gains, impairments and other financial results Impairments from Other financial Impact on pre-tax Realisation gains (1) Bankia and Cattolica results result 2012 2013 2012 2013 2012 2013 2012 2013 MAPFRE FAMILIAR 49.2 31.1 -31
Slide 60: Development of reserves
4 Appendix Development of reserves 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 At the end of year of occurrence 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 As at 31.12.2013 93.6 94.6 95.4 95.3 96.5 95.9 98.5 99.5 98.3 Run-off 6.4 5.4 4.6 4.7 3.5 4.1 1.5 0.5 1.7 --- In % 60
Slide 61: MAPFRE RE: Breakdown of gross premiums (2013)
4 Appendix MAPFRE RE: Breakdown of gross premiums (2013) By region By type of ceding company Other countries (5.3%) Spain (22.0%) MAPFRE Other ceding companies (43.7%) North America (10.8%) (56.3%) Latin America (29.7%) EMEA (32.2%) 61
Slide 62: MAPFRE RE: Breakdown of net premiums (2013)
4 Appendix MAPFRE RE: Breakdown of net premiums (2013) By region By type of ceding company Other countries Spain MAPFRE (6.4%) (15.6%) (24.7%) Other ceding North America companies (6.4%) (75.3%) Europe Latin America (43.2%) (28.4%) By type of business By insurance line Other (5.9%) Property Facultat
Slide 63: MAPFRE RE: Investment portfolio
4 Appendix MAPFRE RE: Investment portfolio Breakdown by type of asset Breakdown by region Supranational 288 (8.6%) Other Europe Other 1,148 (34.2%) Property 479 (14.3%) (1) Other countries 15 (0.4%) 454 (13.5%) Equities Fixed income USA and Canada 171 (5.1%) 2,533 (75.4%) 427 (12.7%) Latin America C
Slide 64: MAPFRE RE: Fixed income portfolio: 75.4% of investments
4 Appendix MAPFRE RE: Fixed income portfolio: 75.4% of investments Breakdown by type of issuer Government Spain 336.1 37.0% USA 86.4 9.5% Brazil 82.9 9.1% Netherlands 81.8 9.0% Belgium 78.8 8.7% Italy 71.2 7.8% Austria 39.8 4.4% Government Portugal 25.6 2.8% 909 (35.9%) France 16.5 1.8% Germany 12.4
Slide 65: MAPFRE RE: Fixed income portfolio: 75.4% of investments
4 Appendix MAPFRE RE: Fixed income portfolio: 75.4% of investments Breakdown by rating (S&P) Breakdown by currency Other currencies BB or lower 87 (3.4%) 64 (2.5%) Latin American currencies AAA 168 (6.6%) 540 (21.3%) Euro 1,790 (70.7%) BBB US Dollar 756 (29.9%) 488 (19.3%) AA 791 (31.2%) A 382 (15.1
Slide 66: MAPFRE GLOBAL RISKS: Investment portfolio
4 Appendix MAPFRE GLOBAL RISKS: Investment portfolio Breakdown by type of asset Breakdown by region Latin America Equities Other 10.9 (1.5%) 22.2 (3.1%) 26.8 (3.7%)(1) Other countries Supranational 5.6 (0.8%) Mutual funds 48.1 (6.6%) 52.9 (7.3%) USA & Canada Property 62.7 (8.6%) 38.0 (5.2%) Spain 37
Slide 67: MAPFRE GLOBAL RISKS: Fixed income portfolio: 66.5% of investments
4 Appendix MAPFRE GLOBAL RISKS: Fixed income portfolio: 66.5% of investments Breakdown by type of issuer Government Spain 113.6 45.8% Netherlands 31.6 12.7% France 31.6 12.7% USA 26.1 10.5% Belgium 19.2 7.7% Government Germany 17.7 7.1% 248.1 (51.4%) Other countries 8.4 3.4% 248.1 100.0% Financial i
Slide 68: MAPFRE GLOBAL RISKS: Fixed income portfolio: 66.5% of investments
4 Appendix MAPFRE GLOBAL RISKS: Fixed income portfolio: 66.5% of investments Breakdown by rating (S&P) Breakdown by currency BB or lower 1.6 (0.3%) AAA US Dollar 107.8 (22.3%) 136.9 (28.4%) BBB Euro 161.7 (33.5%) 346.1 (71.6%) AA 138.4 (28.7%) A 73.4 (15.2%) Book value as at 31.12.2013: €482.9 milli
Slide 69: Financial supplement
1 Key highlights 2 Consolidated financial information 3 Business development 4 Appendix 5 Financial supplement 6 Schedule and contacts 69
Slide 70: Operating companies: Key figures MAPFRE FAMILIAR
5 Financial supplement Operating companies: Key figures MAPFRE FAMILIAR 2012 2013* % Gross written and accepted premiums 3,715.1 3,693.2 -0.6% Net premiums earned 3,826.3 3,448.8 -9.9% Underwriting result 288.6 176.4 -38.9% Net financial income -35.4 56.4 --- Other business activities 4.7 5.4 14.9%
Slide 71: MAPFRE FAMILIAR – Domestic business by insurance lines
5 Financial supplement Operating companies: Key figures MAPFRE FAMILIAR – Domestic business by insurance lines Motor 2012 2013 % Home 2012 2013 % Gross written and accepted premiums 2,224.5 2,056.4 -7.6% Gross written and accepted premiums 638.2 637.0 -0.2% Net premiums earned 2,296.5 1,907.2 -17.0%
Slide 72: MAPFRE FAMILIAR (contd.) and MAPFRE EMPRESAS
5 Financial supplement Operating companies: Key figures MAPFRE FAMILIAR (contd.) MAPFRE EMPRESAS Other 2012 2013 % 2012 2013 % Gross written and accepted premiums 180.0 183.6 2.0% Gross written and accepted premiums 715.0 642.8 -10.1% Net premiums earned 241.4 170.7 -29.3% Net premiums earned 560.8
Slide 73: Operating companies: Key figures MAPFRE VIDA
5 Financial supplement Operating companies: Key figures MAPFRE VIDA 2012 2013 % Breakdown of premiums 2012 2013 % Technical Reserves excluding Regular Premiums 464.5 430.3 -7.4% shadow accounting 18.294,2 18.251,9 -0,2% - Agents' and other channels 274.9 248.2 -9.7% Shadow accounting adjustments 340
Slide 74: Operating companies: Key figures MAPFRE VIDA
5 Financial supplement Operating companies: Key figures MAPFRE VIDA Funds under management 2012 2013 % Change in funds under management(1) 2012 2013 (2) Regular premiums insurance 4,672.7 4,757.7 1.8% IFRS technical reserves 823.5 869.1 - Agents' channel and others 3,261.7 3,323.6 1.9% Variation w/o
Slide 75: MAPFRE PORTUGAL key figures
5 Financial supplement Operating companies: Key figures MAPFRE PORTUGAL MAPFRE PORTUGAL– by lines 2012 2013 % Non-Life 2012 2013 % Gross written and accepted premiums 92.7 86.4 -6.8% Gross written and accepted premiums 127.8 136.7 7.0% Net premiums earned 83.3 70.6 -15.2% Net premiums earned 117.0 1
Slide 76: MAPFRE AMÉRICA (2013 operational structure)
5 Financial supplement Operating companies: Key figures MAPFRE AMÉRICA MAPFRE AMÉRICA – by lines (2013 operational structure) (2013 operational structure) 2012* 2013* % Non-Life 2012* 2013* % Gross written and accepted premiums 8,313.7 8,886.9 6.9% Gross written and accepted premiums 5,880.5 6,432.5
Slide 77: MAPFRE BRASIL key figures
5 Financial supplement Operating companies: Key figures MAPFRE BRASIL MAPFRE BRASIL – by lines 2012 2013 % Non-Life 2012 2013 % Gross written and accepted premiums 2,937.6 3,336.3 13.6% Gross written and accepted premiums 4,761.4 5,036.1 5.8% Like-for-like (4) 3,137.2 3,336.3 6.3% Net premiums earne
Slide 78: MAPFRE INTERNACIONAL (2013 operational structure)
5 Financial supplement Operating companies: Key figures MAPFRE INTERNACIONAL MAPFRE INTERNACIONAL – by lines (2013 operational structure) (2013 operational structure) 2012* 2013* % Non-Life 2012* 2013* % Gross written and accepted premiums 2,392.4 2,532.1 5.8% Gross written and accepted premiums 2,3
Slide 79: Operating companies: Key figures MAPFRE USA
5 Financial supplement Operating companies: Key figures MAPFRE USA 2012 2013 % Gross written and accepted premiums 1,513.9 1,543.2 1.9% Net premiums earned 1,391.2 1,358.6 -2.3% Underwriting result -27.0 -6.7 -75.2% Net financial income 128.4 130.2 1.4% Other business activities 0.0 0.0 --- Other no
Slide 80: Operating companies: Key figures MAPFRE RE
5 Financial supplement Operating companies: Key figures MAPFRE RE MAPFRE RE – by lines 2012 2013 % Non-Life 2012 2013 % Gross written and accepted premiums 2,844.5 3,253.7 14.4% Gross written and accepted premiums 2,383.1 2,828.0 18.7% Net premiums earned 1,786.2 2,181.5 22.1% Net premiums earned 1,
Slide 81: MAPFRE GLOBAL RISKS and MAPFRE ASISTENCIA
5 Financial supplement Operating companies: Key figures MAPFRE GLOBAL RISKS MAPFRE ASISTENCIA 2012 2013 % 2012 2013 % Gross written and accepted premiums 1,115.2 1,118.8 0.3% Operating income 928.2 1,130.2 21.8% - Global Risks 1,012.8 1,062.0 4.9% - Gross written and accepted premiums 763.5 918.1 20
Slide 82: Schedule and contacts
1 Key highlights 2 Consolidated financial information 3 Business development 4 Appendix 5 Financial supplement 6 Schedule and contacts 82
Slide 83: 2014 Provisional Schedule
6 Schedule and contacts 2014 Provisional Schedule Release 2013 Results 11-Feb-14 Madrid Conference Call – 2013 Results 12-Feb-14 London Presentation to analysts – 2013 Results 83
Slide 84: Investor Relations Department
6 Schedule and contacts Investor Relations Department Luigi Lubelli Deputy General Manager – Finance +34-91-581-6071 Deputy Director Capital Markets & Natalia Núñez Arana +34-91-581-8664 Head of Investor Relations Alberto Fernández-Sanguino Investor Relations +34-91-581-2255 Antonio Triguero Sánchez
Slide 85: 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