Slide 1: First quarter results 2016
First quarter results 2016 Presentation for investors and analysts 3rd May 2016
Slide 2: Contents
Contents 1 Key highlights 2 Consolidated financial information 3 Financial supplement: Regional Areas and Business Units 4 Financial supplement: Operating Companies 5 Strategic Plan 6 Appendix 7 Schedule and contacts 2
Slide 3: Focus on profitable growth, with tailwinds from Spanish business
1 Key highlights Focus on profitable growth, with tailwinds from Spanish business Revenues 7,263.2 -3.4% Premiums 6,112.9 0.0% -Non-life 5,024.5 2.0% -Life 1,088.4 -8.5% Non-life combined ratio 96.8% -2.0 p.p. -Loss ratio 69.4% -1.1 p.p. -Expense ratio 27.4% -0.9 p.p. Attributable result 191.7 -4.8%
Slide 4: Key highlights
1 Key highlights Key highlights Life and Non-Life premiums benefitting from the recovery in the Spanish market, as Tailwinds from well as the strength of MAPFRE´s commercial network IBERIA Growth in technical-financial result in a complicated market environment, thanks to improvements in technic
Slide 5: High quality capital structure provides MAPFRE with strong financial capacity
1 Key highlights High quality capital structure provides MAPFRE with strong financial capacity Solvency II ratio = 190% 8,078 Tier 2: €619 mn (8%) Grandfathered subordinated debt 4,253 Tier 1 92% Unrestricted Tier 1: €7,459 mn (92%) SCR EOF Excluding the use of transitional measures for technical pr
Slide 6: Own funds: from IFRS to Solvency II
1 Key highlights Own funds: from IFRS to Solvency II (2) (1) Million euros 1) Non-available own funds from minorities, other financial sector, and third party equivalent countries (USA, Brazil, and Mexico) 2) Includes revaluation of deferred taxes, other liabilities and treasury stock 6 Preliminary
Slide 7: Solvency capital requirement per risk category
1 Key highlights Solvency capital requirement per risk category (1) Million euros 1) Further adjustments include: Operational risk; loss absorbing capacity of technical provisions and deferred taxes; capital requirement from other financial sectors and third party equivalent countries (USA, Brazil a
Slide 8: Sensitivities are a result of MAPFRE's prudent business mix, investment allocation and ALM strategy
1 Key highlights Sensitivities are a result of MAPFRE´s prudent business mix, investment allocation and ALM strategy 190% Ratio as at 31/12/2015 190% Interest rate +100 bps 185% - 5 pts Interest rate -100 bps 198% + 8 pts 8,078 UFR 3.2% - 1 pts 189% 4,253 EUR appreciation +10% 182% - 8 pts SCR EOF E
Slide 9: Final dividend will be fully paid in cash on June 24th
1 Key highlights Final dividend will be fully paid in cash on June 24th On March 11th, the AGM approved the payment of a final dividend against the 2015 results of €0.07 gross per share 2015 Final Thus, the outlay against the 2015 results amounts to Dividend €400.3 million The Board has resolv
Slide 10: Regional Areas & Business Units
1 Key highlights Regional Areas & Business Units Premiums Contribution to consolidated results EUR M % MAPFRE RE 16.4% 1,092.7 IBERIA 112.3 50.6% APAC 0.5% BRAZIL 27.0 12.2% 35.7 IBERIA 34.3% 2,280.3 EMEA -10.9 -4.9% LATAM NORTH 5.5% 363.2 NORTH AMERICA 16.8 7.6% €6,648.6 LATAM SOUTH 13.9 6.3% LATAM
Slide 11: Contents
Contents 1 Key highlights 2 Consolidated financial information 3 Financial supplement: Regional Areas and Business Units 4 Financial supplement: Operating Companies 5 Strategic Plan 6 Appendix 7 Schedule and contacts 11
Slide 12: Result of Non-Life business
2 Consolidated financial information: Non-Life Result of Non-Life business % o/ % o/ 1Q 2015 4Q 2015 1Q 2016 4Q 2015 1Q 2015 Gross written and accepted premiums 4,924.3 3,660.9 5,024.5 37.2% 2.0% Underwriting result 41.1 52.4 112.8 115.3% 174.5% Net financial and other non-technical income 252.3
Slide 13: Premiums grew by 2% during the first quarter of 2016
2 Consolidated financial information: Non-Life Premiums grew by 2% during the first quarter of 2016 . . . Δ (mn) Δ% Key Highlights • Strong growth in insurance units due to: – Consolidation of direct business in Italy and Germany (+€256mn) EMEA +354 +108% – Turkey (€+77mn) due to tariff and volume i
Slide 14: Despite the depreciation of several main currencies
2 Consolidated financial information: Non-Life . . . despite the depreciation of several main currencies Δ (mn) Δ% Key Highlights LATAM • Decrease in issuance in Mexico, especially in Health, Industrial Risk and Motor -34 -10.7% NORTH segments • Fall in volumes in Brazil, due to the depreciation of
Slide 15: The loss ratio improved by 1.1 p.p. vs. previous year
2 Consolidated financial information: Non-Life The loss ratio improved by 1.1 p.p. vs. previous year . . . Loss ratio Δ p.p. Key Highlights (%) • Absence of extraordinary weather-related claims in the east coast of USA NORTH • Loss ratio at MAPFRE USA 78.4% (-15.1 p.p.): 75.8% -13.0% AMERICA • MA* 7
Slide 16: The expense ratio was reduced by 0.9 p.p.
2 Consolidated financial information: Non-Life . . . and the expense ratio was reduced by 0.9 p.p. Expense ratio (%) Δ p.p. Key Highlights NORTH 24.8% -5.2% • Improvement stemming from higher commissions from ceded reinsurance in USA AMERICA BRAZIL 31.3% -0.7% • Reductions in Motor and Industrial Ri
Slide 17: Net financial and other non-technical income fell by nearly €85 million
2 Consolidated financial information: Non-Life Net financial and other non-technical income fell by nearly €85 million due to currency movements and lower realized gains Δ (mn) Key Highlights • Improvement in net foreign exchange differences due to the negative impact of the MAPFRE RE +13 Venezuelan
Slide 18: Result of Life business
2 Consolidated financial information: Life Result of Life business % o/ % o/ 1Q 2015 4Q 2015 1Q 2016 4Q 2015 1Q 2015 Gross written and accepted premiums 1,189.8 1,310.3 1,088.4 -16.9% -8.5% Technical-financial result and other non- 177.7 138.9 155.7 12.1% -12.4% technical income (1) Unrealized g
Slide 19: Premiums decreased by 8.5% during the first quarter of 2016
2 Consolidated financial information: Life Premiums decreased by 8.5% during the first quarter of 2016 . . . Δ (mn) Δ% Key Highlights IBERIA +16 +3.6% • Pick up in sales in the Agents’ network EMEA +23 +43.3% • Good performance in production in Malta LATAM -15 -15.4% • Contraction of issuance in Mex
Slide 20: Result impacted by lower financial income and the depreciation of the Brazilian Real
2 Consolidated financial information: Life . . .and the result was impacted by lower financial income and the depreciation of the Brazilian Real Δ (mn) Δ% Key Highlights IBERIA +12 +34.1% • Improvement in underwriting results due to better claims experience and stable discount rate • Worsening of ne
Slide 21: Result of Other Business Activities
2 Consolidated financial information: Other Business Activities Result of Other Business Activities* % o/ % o/ 1Q 2015 4Q 2015 1Q 2016 4Q 2015 1Q 2015 Net operating revenues & expenses -4.9 -49.6 -6.6 -86.7% 34.7% Net financial income & other -3.9 7.0 -9.8 --- 151.3% Results from Other Business
Slide 22: Development of results from Other Business Activities
2 Consolidated financial information: Other Business Activities Development of results from Other Business Activities Net operating Decline of € 1.7 million, reflecting: revenues & expenses fall in the result due to lower activity in the quarter lower net operating revenues at MAPFRE ASISTENCI
Slide 23: Consolidated result
2 Consolidated financial information Consolidated result % o/ % o/ 1Q 2015 4Q 2015 1Q 2016 4Q 2015 1Q 2015 Result on restatement of financial accounts -33.6 24.8 -8.8 -135.5% -73.8% Result before tax and non-controlling interests 458.5 314.5 425.2 35.2% -7.3% Income tax -138.2 -91.5 -138.1 50.9%
Slide 24: Consolidated result: key highlights
2 Consolidated financial information Consolidated result: key highlights Strong improvement in the underwriting result of the Non-Life business, mainly due to the absence of the extraordinary weather related events that negatively impacted Massachusetts in 2015 and the improvements in IBERIA Dec
Slide 25: Development of the balance sheet
2 Consolidated financial information Development of the balance sheet 31.3.2015 31.12.2015 31.3.2016 Goodwill 1,901.1 2,068.0 2,031.3 Other intangible assets 1,804.7 1,629.6 1,645.8 Other fixed assets 294.6 331.1 289.8 Cash 1,157.5 989.1 1,131.3 Investments and real estate 47,176.6 45,275.6 46,389.9
Slide 26: Development of equity
2 Consolidated financial information Development of equity 3M 2016 3M 2015 Equity Non- attributable to Total Total controlling controlling Equity Equity interests company BALANCE AS AT PRIOR YEAR END 8,573.7 1,834.6 10,408.3 11,469.4 Additions and deductions accounted for directly in equity Investme
Slide 27: Development of balance sheet and equity
2 Consolidated financial information Development of balance sheet and equity Investments Increase in the value of the financial investment portfolio - partially offset by available for sale shadow accounting – driven by the strong performance of global financial markets during the first quarter of
Slide 28: Contents
Contents 1 Key highlights 2 Consolidated financial information 3 Financial supplement: Regional Areas and Business Units 4 Financial supplement: Operating Companies 5 Strategic Plan 6 Appendix 7 Schedule and contacts 28
Slide 29: Written premiums
3 Financial supplement: Regional Areas and Business Units Written premiums Cumulative figures Quarterly figures % o/ % o/ REGIONAL AREA 3M 2015 3M 2016 % 1Q 2015 4Q 2015 1Q 2016 4Q 2015 1Q 2015 IBERIA 2,185.3 2,280.3 4.3% 2,185.3 1,611.5 2,280.3 41.5% 4.3% BRAZIL 1,192.0 937.3 -21.4% 1,192.0 1,
Slide 30: Attributable results
3 Financial supplement: Regional Areas and Business Units Attributable results Cumulative figures Quarterly figures % o/ % o/ REGIONAL AREA 3M 2015 3M 2016 % 1Q 2015 4Q 2015 1Q 2016 4Q 2015 1Q 2015 IBERIA 111.9 112.3 0.4% 111.9 78.6 112.3 42.9% 0.4% BRAZIL 42.9 27.0 -37.1% 42.9 21.0 27.0 28.6%
Slide 31: IBERIA
3 Financial supplement: Regional Areas and Business Units IBERIA Cumulative figures PREMIUMS GROSS RESULT 3M 2015 3M 2016 % 3M 2015 3M 2016 % IBERIA 2,185.3 2,280.3 4.3% 155.7 170.6 9.6% SPAIN 2,118.6 2,219.5 4.8% 153.6 168.8 9.9% PORTUGAL 66.7 60.8 -8.8% 2.1 1.8 -14.3% Quarterly figures PREMIUMS
Slide 32: LATAM Cumulative figures
3 Financial supplement: Regional Areas and Business Units LATAM Cumulative figures PREMIUMS GROSS RESULT % local % local 3M 2015 3M 2016 % (1) 3M 2015 3M 2016 % (1) currency currency BRAZIL 1,192.0 937.3 -21.4% 0.6% 228.5 166.3 -27.2% -6.2% LATAM SOUTH 817.6 498.6 -39.0% 62.3 24.2 -61.2% of wh
Slide 33: LATAM Quarterly figures
3 Financial supplement: Regional Areas and Business Units LATAM Quarterly figures PREMIUMS GROSS RESULT % o/ % o/ % o/ % o/ 1Q 2015 4Q 2015 1Q 2016 4Q 2015 1Q 2015 1Q 2015 4Q 2015 1Q 2016 4Q 2015 1Q 2015 BRAZIL 1,192.0 1,103.6 937.3 -15.1% -21.4% 228.5 169.1 166.3 -1.7% -27.2% LATAM SOUTH 81
Slide 34: INTERNATIONAL Cumulative figures
3 Financial supplement: Regional Areas and Business Units INTERNATIONAL Cumulative figures PREMIUMS GROSS RESULT % local % local 3M 2015 3M 2016 % currency 3M 2015 3M 2016 % currency (1) (1) NORTH AMERICA 631.8 683.0 8.1% --- -68.6 23.2 --- --- of which: USA 544.4 601.5 10.5% 9.0% -72.4 17.6 -
Slide 35: INTERNATIONAL Quarterly figures
3 Financial supplement: Regional Areas and Business Units INTERNATIONAL Quarterly figures PREMIUMS GROSS RESULT % o/ % o/ % o/ % o/ 1Q 2015 4Q 2015 1Q 2016 4Q 2015 1Q 2015 1Q 2015 4Q 2015 1Q 2016 4Q 2015 1Q 2015 NORTH AMERICA 631.8 673.7 683.0 1.4% 8.1% -68.6 17.9 23.2 29.6% --- of which: US
Slide 36: MAPFRE RE
3 Financial supplement: Regional Areas and Business Units MAPFRE RE Cumulative figures PREMIUMS GROSS RESULT 3M 2015 3M 2016 % 3M 2015 3M 2016 % MAPFRE RE 933.7 1,092.7 17.0% 67.6 68.4 1.2% Quarterly figures PREMIUMS GROSS RESULT % o/ % o/ % o/ % o/ 1Q 2015 4Q 2015 1Q 2016 4Q 2015 1Q 2015
Slide 37: Non-Life Income Statement 3M 2016
3 Financial supplement: Regional Areas and Business Units Non-Life Income Statement 3M 2016 LATAM LATAM NORTH CONSOLID. NON-LIFE INSURANCE AND REINSURANCE IBERIA NORTH SOUTH BRAZIL EMEA AMERICA APAC MAPFRE RE ADJUST. TOTAL Gross written and accepted premiums 1,823.1 280.5 448.6 653.9 681.7 681.3 35.
Slide 38: Life Income Statement 3M 2016
3 Financial supplement: Regional Areas and Business Units Life Income Statement 3M 2016 LATAM LATAM NORTH CONSOLID. LIFE INSURANCE AND REINSURANCE IBERIA NORTH SOUTH BRAZIL EMEA AMERICA APAC MAPFRE RE ADJUST. TOTAL Gross written and accepted premiums 457.2 82.8 50.0 283.4 76.1 1.7 0.0 137.2 0.0 1,08
Slide 39: Other business activities and net result 3M 2016
3 Financial supplement: Regional Areas and Business Units Other business activities and net result 3M 2016 HOLDING & LATAM LATAM NORTH CONSOL. IBERIA NORTH SOUTH BRAZIL EMEA AMERICA APAC MAPFRE RE ADJUST. TOTAL Results from other business activities 16.2 -0.2 -0.9 3.8 -1.9 -1.5 -1.6 0.0 -30.4 -16.5
Slide 40: Non-Life Income Statement 3M 2015
3 Financial supplement: Regional Areas and Business Units Non-Life Income Statement 3M 2015 LATAM LATAM NORTH CONSOLID. NON-LIFE INSURANCE AND REINSURANCE IBERIA NORTH SOUTH BRAZIL EMEA AMERICA APAC MAPFRE RE ADJUST. TOTAL Gross written and accepted premiums 1,744.1 314.1 751.2 773.4 327.8 629.4 31.
Slide 41: Life Income Statement 3M 2015
3 Financial supplement: Regional Areas and Business Units Life Income Statement 3M 2015 LATAM LATAM NORTH CONSOLID. LIFE INSURANCE AND REINSURANCE IBERIA NORTH SOUTH BRAZIL EMEA AMERICA APAC MAPFRE RE ADJUST. TOTAL Gross written and accepted premiums 441.2 97.8 66.4 418.6 53.1 2.4 0.0 110.3 0.0 1,18
Slide 42: Other business activities and net result 3M 2015
3 Financial supplement: Regional Areas and Business Units Other business activities and net result 3M 2015 HOLDING & LATAM LATAM NORTH CONSOL. IBERIA NORTH SOUTH BRAZIL EMEA AMERICA APAC MAPFRE RE ADJUST. TOTAL Results from other business activities 20.7 -0.7 -1.1 1.4 0.6 -0.9 -0.9 0.0 -27.8 -8.8 Re
Slide 43: Non-Life management ratios
3 Financial supplement: Regional Areas and Business Units Non-Life management ratios(*) EXPENSE LOSS COMBINED 3M 2015 3M 2016 3M 2015 3M 2016 3M 2015 3M 2016 IBERIA 21.5% 21.3% 74.6% 70.3% 96.1% 91.6% LATAM NORTH 37.0% 34.1% 56.4% 59.1% 93.4% 93.2% LATAM SOUTH 33.5% 36.5% 63.2% 61.5% 96.7% 98.0% BRA
Slide 44: Contents
Contents 1 Key highlights 2 Consolidated financial information 3 Financial supplement: Regional Areas and Business Units 4 Financial supplement: Operating Companies 5 Strategic Plan 6 Appendix 7 Schedule and contacts 44
Slide 45: MAPFRE ESPAÑA by lines
4 Financial supplement: Operating Companies MAPFRE ESPAÑA(1) MAPFRE ESPAÑA(1) by lines 3M 2015 3M 2016 % Motor 3M 2015 3M 2016 % Gross written and accepted premiums 1,630.3 1,679.2 3.0% Net premiums earned 982.4 995.4 1.3% Gross written and accepted premiums 508.1 515.7 1.5% Underwriting result 3
Slide 46: MAPFRE ESPAÑA by lines
4 Financial supplement: Operating Companies MAPFRE ESPAÑA(1) by lines (2) Burial 3M 2015 3M 2016 % Commercial insurance 3M 2015 3M 2016 % Gross written and accepted premiums 233.8 229.4 -1.9% Gross written and accepted premiums 180.6 172.6 -4.4% Net premiums earned 80.9 78.7 -2.7% Net premiums ear
Slide 47: MAPFRE VIDA
4 Financial supplement: Operating Companies MAPFRE VIDA Breakdown of premiums 3M 2015 3M 2016 % 3M 2015 3M 2016 % Regular Premiums 178.6 145.4 -18.6% Gross written and accepted premiums 452.2 474.5 4.9% Net premiums earned 411.9 437.4 6.2% - Agents' and other channels 97.9 82.3 -15.9% Underwriting
Slide 48: MAPFRE VIDA
4 Financial supplement: Operating Companies MAPFRE VIDA 31/12/2014 31/03/2015 Var € mn 31/12/2015 31/03/2016 Var € mn Managed savings Regular premiums insurance 6,612.8 6,376.0 -236.8 6,211.4 6,382.6 171.2 - Agents' channel and others 3,824.1 4,345.7 521.5 3,837.1 3,951.8 114.7 - Bank channel - BANK
Slide 49: MAPFRE AMÉRICA
4 Financial supplement: Operating Companies MAPFRE AMÉRICA MAPFRE AMÉRICA (by lines) 3M 2015 3M 2016 % Non-Life 3M 2015 3M 2016 % Gross written and accepted premiums 2,315.2 1,696.1 -26.7% Gross written and accepted premiums 1,732.4 1,279.9 -26.1% Net premiums earned 1,724.2 1,311.4 -23.9% Net pr
Slide 50: MAPFRE BRASIL
4 Financial supplement: Operating Companies MAPFRE BRASIL MAPFRE BRASIL (by lines) 3M 2015 3M 2016 % Gross written and accepted premiums 1,167.5 896.7 -23.2% Non-Life 3M 2015 3M 2016 % Gross written and accepted premiums 748.9 613.3 -18.1% Net premiums earned 1,056.7 857.4 -18.9% Net premiums earn
Slide 51: MAPFRE INTERNACIONAL
4 Financial supplement: Operating Companies MAPFRE INTERNACIONAL MAPFRE INTERNACIONAL (by lines) 3M 2015 3M 2016 % Non-Life 3M 2015 3M 2016 % Gross written and accepted premiums 819.0 1,223.9 49.4% Gross written and accepted premiums 763.5 1,146.1 50.1% Net premiums earned 670.1 829.5 23.8% Net pr
Slide 52: MAPFRE USA
4 Financial supplement: Operating Companies MAPFRE USA 3M 2015 3M 2016 % Gross written and accepted premiums 491.3 535.2 8.9% Net premiums earned 433.5 424.2 -2.1% Underwriting result -102.0 -9.0 -91.2% Net financial income 29.6 25.8 -12.8% Other business activities 0.0 0.0 --- Other non-technical
Slide 53: MAPFRE RE
4 Financial supplement: Operating Companies MAPFRE RE MAPFRE RE (by lines) 3M 2015 3M 2016 % Non-Life 3M 2015 3M 2016 % Gross written and accepted premiums 933.7 1,092.7 17.0% Gross written and accepted premiums 823.4 955.5 16.0% Net premiums earned 493.0 698.3 41.6% Net premiums earned 411.2 588.
Slide 54: MAPFRE GLOBAL RISKS and MAPFRE ASISTENCIA
4 Financial supplement: Operating Companies MAPFRE GLOBAL RISKS MAPFRE ASISTENCIA 3M 2015 3M 2016 % 3M 2015 3M 2016 % Gross written and accepted premiums 235.6 291.5 23.7% Operating income 328.9 311.2 -5.4% Net premiums earned 77.1 82.2 6.6% - Gross written and accepted premiums 284.0 284.3 0.1% U
Slide 55: Non-Life management ratios – Companies
4 Financial supplement: Operating Companies Non-Life management ratios – Companies (*) EXPENSE LOSS COMBINED 3M 2015 3M 2016 3M 2015 3M 2016 3M 2015 3M 2016 MAPFRE ESPAÑA 21.2% 21.0% 74.8% 72.2% 96.0% 93.2% MAPFRE AMÉRICA 33.4% 33.3% 62.2% 65.9% 95.7% 99.2% MAPFRE BRASIL 32.0% 32.0% 62.6% 68.1% 94.6
Slide 56: Contents
Contents 1 Key highlights 2 Consolidated financial information 3 Financial supplement: Regional Areas and Business Units 4 Financial supplement: Operating Companies 5 Strategic Plan 6 Appendix 7 Schedule and contacts 56
Slide 57: Financial objectives for 2016-2018 were announced at the AGM in March
5 Strategic Plan Financial objectives for 2016-2018 were announced at the AGM in March . . . Combined Ratio (%) Expense Ratio (%) 98.6 28.6 <28.0 <96.0 Payout (%) 65 Target range 50 2015 Target* 2015 Target* 57 ROE (%) Revenues (€ million) CAGR 2015 Target >11.0 2015-18 +5.1% 31,000 8.0 26,702 2015
Slide 58: Specific objectives for each of the four pillars
5 Strategic Plan . . . as well as specific objectives for each of the four pillars of MAPFRE´s 2016-2018 strategic plan PROFITABLE GROWTH Technical and Digital Client Culture and Operational Transformation Orientation Human Talent Excellence 58
Slide 59: Client Orientation: Customer focus is key to MAPFRE's strategy
5 Strategic Plan 1 Client Orientation: Customer focus is key to MAPFRE´s strategy Targets Implement NPS in a group of countries that represent at least 80% of Non-Life private premiums Client Segmentation Client score higher than the average of main competitors in at least 70% of our businesses
Slide 60: Digital Transformation
5 Strategic Plan 2 Digital Transformation: Adapting to the new digital era to improve efficiency and interaction with clients Targets Increase number of client digital transactions by 30% in main markets (Spain, Brazil, USA and Mexico) Digital Transformation Model Increase digital business by 50
Slide 61: Technical and Operational Excellence
5 Strategic Plan Technical and Operational Excellence: Special focus on underwriting, 3 pricing and claims management Targets Global Operational Efficiency Average combined ratio <96% Model Spain: <96% Brazil: <92% USA: <98% Massachusetts: <95% MAPFRE Service Providers Total cost savings
Slide 62: Culture and Human Talent
5 Strategic Plan 4 Culture and Human Talent Targets Employee satisfaction score >80% Talent Management 40% of management positions held by women MAPFRE, Great Place to Work Foster employability across the different segments of the workforce Occupational and geographic mobility programs (>10%
Slide 63: MAPFRE's 2016-2018 Sustainability Plan
5 Strategic Plan MAPFRE´s 2016-2018 Sustainability Plan will have a clear impact on how we manage relationships with stakeholders Maximize the social impact MAPFRE wants to be perceived as an ethical company with of our actions values of solidarity and that protect culture diversity Minimize MAP
Slide 64: Well positioned in Spanish market to take advantage of the economic recovery
5 Strategic Plan Well positioned in Spanish market to take advantage of the 1 economic recovery Leader in Non-Life Strategic Initiatives market Client segmentation Multi-channel approach Strengthen agency network to >9,000 agents improve sales ratios Digital transformation (i.e. new online a
Slide 65: Despite the difficult economic backdrop in Brazil, MAPFRE still has opportunities to grow
5 Strategic Plan Despite the difficult economic backdrop in Brazil, MAPFRE still has opportunities to grow, while maintaining profitability Strengthen MAPFRE sales network Improve penetration in Banco do Brasil (new products and sales models) Growth opportunities Improve client retention Increase pr
Slide 66: Main strategic initiatives in North America in 2016
5 Strategic Plan Main strategic initiatives in North America in 2016 aim to reinforce our presence and improve profitability • Consolidation of a new decentralized regional structure (Northeast- Massachusetts, Atlantic, Central, West and Puerto Rico) • Maintain growth and profitability levels in Mas
Slide 67: Contents
Contents 1 Key highlights 2 Consolidated financial information 3 Financial supplement: Regional Areas and Business Units 4 Financial supplement: Operating Companies 5 Strategic Plan 6 Appendix 7 Schedule and contacts 67
Slide 68: Consolidated income statement
6 Appendix Consolidated income statement 3M 2015 3M 2016 % NON-LIFE INSURANCE AND REINSURANCE Gross written and accepted premiums 4,924.3 5,024.5 2.0% Premiums earned, net of ceded and retroceded reinsurance 3,522.5 3,507.9 -0.4% Net claims incurred and variation in other technical provisions -2,48
Slide 69: Net financial income: selected information
6 Appendix Net financial income: selected information Net financial income (1) Net realization gains (2) 3M 2015 3M 2016 MAPFRE ESPAÑA 33.0 16.0 3M 2015 3M 2016 % Non-life 261.0 190.9 -26.9% MAPFRE VIDA 14.1 0.0 - of which: MAPFRE AMÉRICA 5.4 1.7 realized capital gains and impairments 56.9 33.9 -40
Slide 70: Main currency movements
6 Appendix Main currency movements Var. Average Var. Exchange Var. Exchange Exchange Rates Rates 3M 2016 Rates 3M 2016 3M 2016 vs. 3M vs. 3M 2015 vs. 12M 2015 2015 US Dollar -0.1% -5.5% -4.4% Brazilian Real -23.6% -13.9% 6.2% Turkish Lira -13.4% -12.4% -1.1% Mexican Peso -15.8% -15.9% -3.6% Colombia
Slide 71: Glossary
6 Appendix Glossary (Operating expenses, net of reinsurance – other technical income + other technical Expense ratio – Non-Life expenses) / Net premiums earned. Figures for the Non-life segment (Net claims incurred + variation in other technical reserves + profit sharing and Loss ratio – Non-Life re
Slide 72: Contents
Contents 1 Key highlights 2 Consolidated financial information 3 Financial supplement: Regional Areas and Business Units 4 Financial supplement: Operating Companies 5 Strategic Plan 6 Appendix 7 Schedule and contacts 72
Slide 73: Schedule
7 Schedule and contacts Schedule Release First Quarter 2016 Results 3-May-16 Madrid Conference Call - First Quarter 2016 Results 4-May-16 London Presentation to analysts - First Quarter 2016 Results 8-July to 27-July Black-out period Release First Half 2016 Results 27-July-16 Conference
Slide 74: Investor Relations Department
7 Schedule and contacts Investor Relations Department Capital Markets Director Natalia Núñez Arana +34-91-581-8664 Head of Investor Relations Antonio Triguero Sánchez Investor Relations +34-91-581-5211 Alberto Fernández-Sanguino Investor Relations +34-91-581-2255 Leandra Elizabeth Clark Investor Rel
Slide 75: 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