Slide 1: Activity Update Analyst & Investor presentation 3M 2024
Activity Update Analyst & Investor presentation 3M 2024 April 25th 2024 1
Slide 2: Disclaimer
DISCLAIMER MAPFRE S.A. hereby informs that the figures and ratios in this activity report are presented under the accounting principles in force in each country, homogenized for comparison and aggregation between units and regions. As such, certain adjustments have been applied, the most relevant of
Slide 3: Profitable growth strategy is delivering
ACTIVITY UPDATE – 3M 2024 Profitable growth strategy is delivering PREMIUMS PROFITABILITY NON-LIFE SOLVENCY II * €216 mn COMBINED RATIO 208.2% net result +69.5% €8,143 mn 95.8% with transitionals +4.6% 10.1% ROE +1.1 p.p. 199.6% -2.7 p.p. excluding transitionals *Data at December 2023, provisional f
Slide 4: Premiums
ACTIVITY UPDATE – 3M 2024 PREMIUMS TOTAL PREMIUMS REVENUE €8,143M +4.6% +3.8%* MAIN LINES INSURANCE +6.9% -2.7% 4 Million euros / * At constant exchange rates
Slide 5: Key figures and ratios
ACTIVITY UPDATE – 3M 2024 KEY FIGURES AND RATIOS BY REGIONS AND BUSINESS UNITS ROE (main markets/units) 3M 2024 Premiums Net result Non-Life Combined ratio BRAZIL 24.0% 3M 2024 Δ% 3M 2024 Δ% 3M 2024 Δ% TOTAL LATAM 16.9% IBERIA 3,354.3 0.8% 73.1 8.6% 99.7% -0.0 p.p MAPFRE RE 13.1% BRAZIL 1,320.1 10.2
Slide 6: Key figures > Auto
ACTIVITY UPDATE – 3M 2024 KEY FIGURES > AUTO Premiums Insured units Attributable result Combined Ratio 3M 2023 3M 2024 Δ% Units (mn) Δ% 3M 2023 3M 2024 3M 2023 3M 2024 MAPFRE GROUP 1,575 1,629 3.4% 13.31 -5.0% -29.5 -12.6 106.3% 105.3% IBERIA 564 592 5.0% 6.06 -2.1% -14.8 -11.6 106.5% 105.7% NORTH A
Slide 7: Key figures > General P&C
ACTIVITY UPDATE – 3M 2024 KEY FIGURES > GENERAL P&C Premiums Attributable result Combined Ratio 3M 2023 3M 2024 Δ% 3M 2023 3M 2024 3M 2023 3M 2024 MAPFRE GROUP 2,124 2,288 7.7% 67.9 92.8 87.3% 83.5% BRAZIL 659 744 13.0% 32.7 35.2 72.0% 69.6% IBERIA 787 839 6.7% 36.9 48.1 92.4% 93.8% Combined Ratio M
Slide 8: Key figures > Life business
ACTIVITY UPDATE – 3M 2024 KEY FIGURES > LIFE BUSINESS Premium growth > Insurance units Life technical-financial result 3M 2023 3M 2024 Δ YoY Total MAPFRE Group* 206.9 189.4 -8.5% Total Insurance Units 193.4 186.0 -3.8% of which: IBERIA 59.3 60.0 1.3% BRAZIL 104.3 95.6 -8.4% OTHER 29.8 30.4 2.0% *Inc
Slide 9: Capital position, credit metrics & MCEV
ACTIVITY UPDATE – 3M 2024 CAPITAL POSITION, CREDIT METRICS & MCEV Capital structure Evolution of Shareholders’ Equity 12.31.2023 03.31.2024 %Δ YTD Balance at 12.31.2023 8,071 Total equity 9,214 9,260 0.5% Result for the period 216 Total debt 2,701 2,776 2.8% Dividends -277 Senior debt 864 868 0.4% N
Slide 10: Assets under management
ACTIVITY UPDATE – 3M 2024 ASSETS UNDER MANAGEMENT Market value 03.31.2024 %Δ Government fixed income 22.9 0.9% Spain 9.7 0.0% Italy 2.3 -1.5% Rest of Europe 1.9 0.7% United States 1.8 0.8% Brazil 3.2 -3.2% Rest of LATAM 2.9 11.4% Other 1.1 1.1% Corporate fixed income 8.7 6.0% Real Estate* 1.9 5.5% E
Slide 11: Investment portfolio
ACTIVITY UPDATE – 3M 2024 INVESTMENT PORTFOLIO Eurozone – Fixed income portfolios – Active management Market value Accounting Market yield Modified (€bn) Yield (%) (%) duration (%) 12.31.2023 3.48 2.50 3.28 7.80 IBERIA NON-LIFE* 03.31.2024 3.58 2.54 3.44 7.16 MAPFRE RE 12.31.2023 4.16 2.54 3.80 3.40
Slide 12: Financial income
ACTIVITY UPDATE – 3M 2024 FINANCIAL INCOME Net Financial Income – Non-Life Net realized gains and losses* 3M 2023 3M 2024 Δ% 3M 2023 3M 2024 IBERIA 37.2 45.0 20.9% IBERIA 11.0 10.7 BRAZIL 23.4 22.4 -4.4% Non-Life 7.5 4.0 OTHER LATAM 38.5 45.5 18.4% Life 3.5 6.7 NORTH AMERICA 22.9 23.7 3.7% NORTH AME
Slide 13: Closing remarks
CLOSING REMARKS PROFITABLE GROWTH BUSINESS MODEL FINANCIAL STRENGTH >7 % Highly diversified by Supporting growth and Ex-Life Savings geography and product commitment to shareholders 13
Slide 14: Investor relations contacts and upcoming events
INVESTOR RELATIONS CONTACTS Email: IR@mapfre.com Telephone: (+34) 91 581 23 18 Corporate website: www.mapfre.com Financial documentation center: www.mapfre.com/en/financial-information/ Leandra Clark Leslie Hoffman Natalia Chavarría Lidia Bermúdez Head of Investor Investor Relations Investor Relatio
Slide 15: Terminology
TERMINOLOGY Local homogenized accounting Premiums / Written and Accepted Written premiums, direct insurance + premiums from accepted reinsurance premiums Direct insurance written premiums + accepted reinsurance premiums + ceded reinsurance premiums + Variations in provisions unearned premiums and un