Slide 1: Results Presentation January - September 2023
27 October, 2023 Results Presentation January - September 2023
Slide 2: Challenging economic environment
CHALLENGING ECONOMIC ENVIRONMENT 1 2 3 4 5 6 Economic Geopolitical Higher Growth More complex Technological context: complexity frequency of risks supervision disruption (AI) inflation, climatic events interest rates, etc. 2
Slide 3: 9M 2023 - MAPFRE delivers in spite of uncertainty
9M / 2023 - MAPFRE DELIVERS IN SPITE OF UNCERTAINTY 1 2 3 HISTORIC GROWTH GEOGRAPHIC AND BUSINESS PROGRESS IN TECHNICAL in revenues and DIVERSIFICATION MANAGEMENT premiums Life, Brazil and reinsurance Combined ratio improves by lead profitable growth almost two points 4 5 6 AUTOMOBILE BUSINESS VERY
Slide 4: Main figures
9M / 2023 – MAIN FIGURES €546M 20,679 24,596 +12% +10.9% +10.8% 471 EXCL. GOODWILL WRITEDOWN IN USA -3.6% PREMIUMS REVENUE ATTRIBUTABLE EARNINGS 9.1% 96.8% -1.7 p.p. 197.3% 8.2% EXCL. GOODWILL WRITEDOWN IN USA NON-LIFE SOLVENCY ROE COMBINED RATIO RATIO* 4 Million euros / *Data to June 2023
Slide 5: What's going on at MAPFRE? - Insurance
9M / 2023 – WHAT’S GOING ON AT MAPFRE? - INSURANCE LIFE NON-LIFE Excellent growth (+20%) Strong advance in premiums: +8.7% and improved profitability (+7%) Combined ratio improvement consolidates AUTOMOBILE FINANCIAL INCOME Laser sharp focus on pricing Investment and underwriting to get back result
Slide 6: January – September 2023
27 October, 2023 January – September 2023
Slide 7: Revenue
9M / 2023 - REVENUE PREMIUMS AND REVENUE CONSOLIDATED REVENUES €20,679M +10.9% €24,596M +10.8% 16,294 MAIN LINES DIRECT INSURANCE 6,686 4,625 4,385 3,916 1,698 1,995 1,951 NON-LIFE LIFE FINANCIAL GENERAL P&C AUTO HEALTH LIFE LIFE AND OTHER & ACCIDENT PROTECTION SAVINGS +8.7% +20% +10.1% +12.5% +3.9%
Slide 8: Earnings breakdown
9M / 2023 – EARNINGS BREAKDOWN RESULT 894 €546M 546 +12% 573 471 -159 -319 -75 -444 OTHER NON- OPERATING RESULT GOODWILL NET EARNINGS NON-LIFE LIFE TAXES CONTROLLING CONCEPTS* WRITEDOWN INTERESTS 2022 + €568M + €536M - €88M - €220M - €308M + €488M - + €488M Million euros / *Includes other activities
Slide 9: Investments and cash
9M / 2023 – INVESTMENTS AND CASH INVESTMENT PORTFOLIO FIXED INCOME 29,452 €42,323M +2.3% SOVEREIGN DEBT 21,334 SPAIN 8,881 FIXED INCOME REST OF EUROPE 4,053 AND OTHER UNITED STATES 1,656 EQUITIES 82.3% AND FUNDS BRAZIL 3,312 LATIN AMERICA - OTHER 2,507 8.1% OTHER MARKETS 925 CORPORATE DEBT 8,118 OFF
Slide 10: Premiums and earnings by business unit
9M / 2023 – PREMIUMS AND EARNINGS BY BUSINESS UNIT ASSISTANCE INSURANCE MAPFRE RE (MAWDY) 6,744 LATAM €17,432 +12% €6,073 +9% 7.615 PREMIUMS 4,564 3,952 3,663 2,064 1,008 1,509 350 * IBERIA BRAZIL LATAM - OTHER NORTH AMERICA EMEA REINSURANCE GLOBAL RISKS ASSISTANCE +17% +7% +16% +4% -2% +9% +11% +8%
Slide 11: Evolution: combined ratios and ROE
9M / 2023 - EVOLUTION COMBINED RATIOS 2022 2023 ROE (main markets/units) NON-LIFE COMBINED RATIO 98.4% 96.8% -1.7 P.P. Sept. 2023 GENERAL P&C 89.9% 87.1% -2.8 P.P. AUTOMOBILE 105.5% 105.9% +0.4 P.P. IBERIA 10.6% BRAZIL 24.4% HEALTH AND ACCIDENT 99.8% 98.0% -1.8 P.P. LATAM - OTHER 14.5% LIFE PROTECTI
Slide 12: January - September 2023
27 October, 2023 January - September 2023
Slide 13: Proven commitment to shareholders
9M / 2023 PROVEN 2023 € 447M COMMITMENT 2022 € 447M TO SHAREHOLDERS 2021 € 416 M 6 cents per share € 447M ≈8 % * Average annual dividend yield 2020 € 416 M over the last 2023 interim dividend 2023 dividend four years 2019 € 447M *Calculated on the average share price 13
Slide 14: We're accelerating our transformation to better adapt to the prevailing context
WE’RE ACCELERATING OUR TRANSFORMATION to better adapt to the prevailing context NEW TEAM NEW STRUCTURE LEVERAGING OPPORTUNITIES 14
Slide 15: Management structure
Corporate Area *Member of Executive Committee **Member of Executive Committee and the Board of Directors ***Will be succeeded by José Luis Gurtubay on March 31, 2024 JANUARY 2024 MANAGEMENT STRUCTURE
Slide 16: Public strategic commitments 2023 - 2024
9M / 2023 – HIGH LEVEL OF COMPLIANCE WITH OBJECTIVES PUBLIC STRATEGIC COMMITMENTS 2023 - 2024 +12%* 96.8% 9.1% 5%-6% +/- 96% 9%-10% GROWTH COMBINED RATIO ROE +/- 197.3% 24.8% 23%-25% Data to Q3 2023 200% SOLVENCY MARGIN DEBT LEVEL *At constant exchange rates
Slide 17: Conclusion
9M / 2023 - CONCLUSION
Slide 18: Thank you
Earnings Presentation 9M / 2023 THANK YOU https://twitter.com/MAPFRE https://www.linkedin.com/company/mapfre/ https://www.instagram.com/mapfre/