Slide 1: Fernando Mata, CFO and Member of the Board
Fernando Mata CFO and Member of the Board March 8, 2019 #SomosMAPFRE
Slide 2: Results 2018
RESULTS 2018 EXTERNAL FACTORS BUSINESS MODEL Behavior of emerging Business and geographic markets diversification Low interest Strength of rate the environment balance sheet 2 #SomosMAPFRE
Slide 3: Financial Strengths
FINANCIAL STRENGTHS Solvency Excellent ratio internal Combined Fitch Quality expense ratio ratio technical rating-financial 208% of capital result strength 88% TIER 1 4.4% “A+” Debt level 97.6% Ratio 22% 3 #SomosMAPFRE
Slide 4: The Figures at a Glance
THE FIGURES AT A GLANCE Combined Ratio Attributable Earnings NON-LIFE 702 529 (+0.3%) w/o goodwill writedown - 24.5% - 0.5p.p 97.6% Premiums + 2.1% at constant 22,537 4% ROE exchange rates - Consolidated Revenues + 0.8% 26,590 8.4 p.p w/o goodwill 6.4% at constant writedown - 1,5% exchange rates - 5
Slide 5: Revenues and Premiums
REVENUES AND PREMIUMS Consolidated Revenues 26,590M 5% € - 17,061 5,476 2,575 1,478 Non-Life Life Financial Other income 6 - % +0.2% * + 2.8% 8.5% + * 8.1% - 13.2% - Total 4 - % €22,537M + premiums (Life/Non-Life) in 2018 2.1% * Millions of euros 5 #SomosMAPFRE *Data in blue at constant exchange rat
Slide 6: Premiums/Earnings by Business Area
PREMIUMS/EARNINGS BY BUSINESS AREA Priemiums by region Insurance unit 1,174 Global Risks 911 Asistencia 7,658 - 7% - 7% In premiums 18,736 3 - % +4%* 3,972 PREMIUMS 2,425 1,766 1,606 1,309 10% + 13% - 4% - -6% 5% - 26% - 3,787 RE 18,736 Insurance Iberia Brazil North America Eurasia LATAM South LATAM
Slide 7: Earnings Breakdown
EARNINGS BREAKDOWN Beneficio neto €529M -24.5% 912 682 702 529 -90 -173 -349 -453 Non- Other Operating Goodwill Net Non-Life Life Taxes controlling concepts* result writedown earnings interests -3.6% - 5.3% + 42.6% + 10.4% 12.4% - +0.3% - - Millions of euros 7 #SomosMAPFRE *Includes other activities
Slide 8: Net Earnings
NET EARNINGS International 685 47 LATAM 157 149 Iberia 24 481 -10 Insurance RE Global Risks Asistencia 17% - 8% - +136% +85% 8 #SomosMAPFRE Millions of euros
Slide 9: ROE
* ROE ROE Group 8.4% 12.4% 11.6% 11.1% 7.1% 7% 5.3% 2.8% 1.9% LATAM LATAM Global North Iberia RE South North Risks Brazil America EURASIA 9 #SomosMAPFRE *6.4% including goodwill writedown
Slide 10: Regional Combined Ratios
97.6% Group REGIONAL COMBINED RATIOS combined ratio 106.7% Automobile 90.8% 102.1% 97.3% 98.1% 98.5% 96.1% 93.8% 91.9% Global MAPFRE LATAM LATAM North Risks Iberia RE South North Brazil America EURASIA 10 #SomosMAPFRE
Slide 11: Group Overview
GROUP OVERVIEW Total 67,570 assets 67,291 -0.4 % December 2017 December 2018 -617M€ 8,611 7,994 Shareholders’ 529 equity 7 - % 447 - -329 103 - 267 - Balance Result for Unrealized Currency Balance Dividends Other 01/01/2018 the period gains differences 31/12/2019 11 #SomosMAPFRE Millions of euros
Slide 12: Investments and Cash
INVESTMENTS AND CASH Investment In portfolio €49,274M public debt €27,596M SPAIN Fixed 15,998€ 8% Equities and funds income and other 83% REST OF EUROPE 5,050€ UNITED STATES 1,347€ Concept 4% Real estate BRAZIL 2,872€ 5% Cash LATIN AMERICA - REST OTHER COUNTRIES 1,805€ 524€ 73% More €27,596M €8,922M
Slide 13: Capital and Solvency
CAPITAL AND SOLVENCY Capital Solvency structure 11,868M € 3Q 207.9% Solvency II ratio SHAREHOLDERS’ EQUITY 78% TIER 1 SENIOR DEBT 8% €8,113M 88% SUBORDINATED DEBT 9% OTHER BANK DEBT 5% TIER 2 €1,103M 12% Leverage ratio 22% 13 #SomosMAPFRE
Slide 14: The MAPFRE Share
Number of shareholders 187,269 Number of shares (millions) 3,079 The Earnings per share (€ cents) 17 MAPFRE share Price / Book value 89% P/E Ratio 13.5 14 #SomosMAPFRE
Slide 15: Shareholder Composition
SAHREHOLDER COMPOSITION Free float 31.8% FREE FLOAT Spain 12% Other countries 19.8% Fundacion MAPFRE 68.2% 15 15 #SomosMAPFRE
Slide 16: Dividend for the Period
We are maintaining DIVIDEND FOR THE PERIOD remuneration levels for our €0.145 shareholders per share, charged against the 2018 results € 447M Payout in 2018 84% Dividend yield 5.5% 16 #SomosMAPFRE
Slide 17: Share Price
SHARE PRICE Data rebased to 100 MAPFRE S.A Ibex 35 Stoxx Insurance 600 2018 2016-2018 MAPFRE 120 110 -13% + 0.4% 100 -10% -13% 90 IBEX 35 -15% 80 70 -15% -10.5% Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec STOXX INSURANCE 600 7,145 Market capitalization as at 12-31-18 -10% 9.2% - 17 #SomosMAPFR
Slide 18: #SomosMAPFRE
MAPFRE #SomosMAPFRE