Mapfre Sa · BME:MAP
Mapfre Sa — Mapfre RE — Investor Presentation (March 2012)
17 slides from Mapfre Sa's investor presentation, March 2012
Slide 1: MAPFRE GROUP – MAPFRE RE
MAPFRE GROUP – MAPFRE RE MARCH 2012
Slide 2: MAPFRE GROUP
MAPFRE | RE MAPFRE GROUP
Slide 3: Current Organisational Chart
Current Organisational Chart MAPFRE S.A. GENERAL SECRETARIAT INTERNAL AUDIT FINANCE AREA INVESTMENTS RESOURCES & PROCUREMENTS TECHNOLOGIES & PROCEDURES DIRECT INSURANCE INTERNATIONAL GLOBAL BUSINESSES SPAIN DIRECT INSURANCE 100% MAPFRE 88,9% MAPFRE 91,5% MAPFRE FAMILIAR AMÉRICA RE 100% 1
Slide 4: MAPFRE GROUP - Historical Evolution 1986-2011
MAPFRE GROUP - Historical Evolution 1986-2011* Million € Year Results Employees Revenues before taxes 2011 23,530 1,637 34.390 2010 20,471 1,431 36,744 2009 18,830 1,446 35,225 2008 17,711 1,383 34,603 2007 15,207 1,366 30,600 2006 13,583 1,156 28,091 2005 12,189 872 24,967 2004 10,831 739 19,920 20
Slide 5: MAPFRE GROUP's International Network
MAPFRE GROUP’s International Network 46 Countries UK Belgium Russia Ireland Canada Germany Luxembourg France Hungary Spain Italy Portugal Greece Turkey Japan Tunisia Malta China USA Jordan Algeria Mexico Libya Egypt Bahrain India Taiwan Dominican Republic Dubai Puerto Rico Guatemala Honduras Philipp
Slide 6: MAPFRE RE
MAPFRE | RE MAPFRE RE
Slide 7: MAPFRE RE's Evolution
MAPFRE RE’s Evolution 1982 Constitution of MAPFRE RE, SPAIN 1984 Opening of the Representative Office in MEXICO 1986 Opening of the Representative Office in MANILA 1988 Constitution of MAPLUX RE, LUXEMBOURG Opening of the Representative Office in MILAN Opening of the Representative Office in CARACAS
Slide 8: MAPFRE RE – International Presence
MAPFRE RE – International Presence GEOGRAPHICAL NETWORK Europe Latin America • Madrid (Spain). Head Office • Buenos Aires (Argentina) • Athens (Greece) • Bogota (Colombia) • Brussels (Belgium). Branch Office • Caracas (Venezuela) • Lisbon (Portugal) • Mexico D.F. (Mexico) • London (UK). Branch Offic
Slide 9: MAPFRE RE's Shareholders
MAPFRE RE’s Shareholders Company % MAPFRE S.A. (Spain) 91.5% Ecclesiastical Insurance (UK) 3.8% Societá Cattolica di Assicurazione (Italy) 2.2% Vaudoise Assurances Holding (Switzerland) 1.2% Shelter Mutual Insurance Co. (USA) 1.0% MAAF Assurances (France) 0.3% Data as at 31.12.2011 9
Slide 10: Rating MAPFRE RE
Rating MAPFRE RE Agency Rating Standard & Poor’s (1) A A. M. Best (2) A (1) Outlook Negative: Rating updated on 17th January 2012. (2) Outlook: Rating updated on 14th December 2011. Outlook under review with negative implications. 10
Slide 11: Evolution of Accounted Gross Premium
Evolution of Accounted Gross Premium +10.9% +15.5% +15.5% +11.1% +11.4% +7.5% +18% +31% Figures in € millions 11
Slide 12: Balance Sheet Information
Balance Sheet Information 2011 MAPFRE RE Consolidated 2004 2005 2006 2007 2008 2009 2010 2011 s/ 2010 Gross Written Premium 1,132.6 1,337.4 1,437.7 1,601.2 1,778.6 2,053.7 2,371.6 2,630.7 +10.9% Net Premium Earned 624.1 835.4 877.6 1,005.5 1,137.8 1,311.2 1,479.9 1,749.0 +18.2% Net Incurred Losses
Slide 13: Balance Sheet Information
Balance Sheet Information ∆ 2011 2003 2005 2007 2008 2009 2010 2011 s/ 2010 Investments 973.2 1,713.1 2,004.1 2,173.2 2,487.5 2,685.8 2,905.5 +8.2 % Total Assets 1,429.6 2,545.2 2,879.9 3,130.7 3,476.0 4,087.9 4,363.5 +6.7 % Shareholders’ Funds 325.6 622.7 725.2 742.8 839.7 848.4 847.7 -0.1% R.O.E.
Slide 14: Evolution R.O.E. MAPFRE RE
Evolution R.O.E. MAPFRE RE MAPFRE RE has consistently produced positive results. A Capital Increase has never been required to cover losses. They have been used to finance the company's development. 15,0% 12,5% 10,0% 7,5% 5,0% 2,5% 0,0% 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 200
Slide 15: Gross Premiums by Geographic Area
Gross Premiums by Geographic Area UNDERWRITING YEAR 2012 USA & Spain & Canada Portugal 8% 6% AAA 15% 63,7% Rest of Europe 47% Latin America USA & Canada 24% AAA 5% 0% Spain & Portugal 36% 36,3% Rest of Europe 5% Latin America MAPFRE NON GROUP 54% 15
Slide 16: Distribution of Premium by Type of Business
Distribution of Premium by Type of Business (TOTAL PORTFOLIO) Year 2003 Year 2012 Facultative Facultative 11,3% 9,5% XL 14,5% XL 20,5% Proportional 74,2% Proportional 70,0% 16
Slide 17: Distribution of Premium by Line of Business
Distribution of Premium by Line of Business TOTAL PORTFOLIO (by Underwriting Year) YEAR 2003 YEAR 2012 Lif e, Accident, Health Assistance 8,9% Property Lif e, Accident, 0,9% 55,2% Health M.A.T. 19,7% 6,2% Property 32,9% Bonds & Credit Assistance 6,4% 1,4% M.A.T. 5,7% Motor / TPL 6,7% Bonds & Credit