Mapfre Sa · BME:MAP
Mapfre Sa — Shareholder Meeting (2023)
17 slides from Mapfre Sa's shareholder meeting presentation, 2023
Slide 1: Fernando Mata, CFO and Member of the Board
FERNANDO MATA CFO AND MEMBER OF THE BOARD
Slide 2: 2022 Results
2 2022 RESULTS MAPFRE continues to have a SOLID BUSINESS MODEL and STRONG BALANCE SHEET Diversification based on Highest revenue in MAPFRE's three pillars: geographic, Leadership position in history and highest premium business and balance sheet. strategic markets. volume in 5 years . Technical rigo
Slide 3: Key Figures
3 KEY FIGURES 29,510 +8.3% 24,540 +8.7%* +10.8% 642 -16.1% ATTRIBUTABLE REVENUE PREMIUMS EARNINGS 98% 8.2% 216.8% NON-LIFE COMBINED RATIO ROE SOLVENCY II RATIO** Million euros. / * Without BANKIA or two-year policy in Mexico and at constant exchange rates. / **Data until September 2022
Slide 4: January Data: A Robust Start to the Year
4 JANUARY DATA A ROBUST START TO THE YEAR +24% + €250M 25.2% €50M TURKEY SHAREHOLDERS’ PREMIUMS DEBT EARTHQUAKE EQUITY IMPACT
Slide 5: Consolidated Revenue
5 CONSOLIDATED REVENUE €29,510M MAIN LINES OF BUSINESS DIRECT INSURANCE 19,342 +8.3% 7,658 +10.8%* 5,912 5,199 1,823 2,481 2,025 +2.1%* 2,544 2,426 NON-LIFE LIFE FINANCIAL OTHER INCOME GENERAL AUTOMOBILE HEALTH & LIFE LIFE P&C ACCIDENT PROTECTION SAVINGS +12% +6.4% -8.0% +3.7% +16.6% +9.7% +14.2% +1
Slide 6: Earnings Breakdown
6 EARNINGS BREAKDOWN ROE 8.2% 823 722 642 -147 -314 -442 NON-LIFE LIFE OTHER CONCEPTS* TAXES NON-CONTROLLING NET EARNINGS INTERESTS -23.2% +75.2% -16.1% 2021 2022 Hyperinflation (12.5) (41.2) Corporate operations 62.6 18.5 ADJUSTED RESULT 715.1 664.8 -7% ADJUSTED ROE 8.4% 8.4% Million euros. Millone
Slide 7: Change in Non-Life and Life Protection Combined Ratio
7 CHANGE IN NON-LIFE AND LIFE PROTECTION COMBINED RATIO DECEMBER DECEMBER DECEMBER COMBINED RATIO 2020 2021 2022 AUTOMOBILE 91.7% 100.8% 106.1% GENERAL P&C 95.0% 91.8% 87.9% HEALTH AND ACCIDENT 94.1% 100.1% 100.1% TOTAL NON-LIFE 94.8% 97.5% 98.0% LIFE PROTECTION 85.4% 94.6% 83.1%
Slide 8: Premiums and Earnings by Business Unit
8 PREMIUMS AND EARNINGS BY BUSINESS UNIT INSURANCE MAPFRE RE ASISTENCIA LATAM €20,508M +13% €7,221M +15% 7,626 8,976 +25% PREMIUMS 5,671 4,852 2,590 2,117 2,007 1,317 1,551 214 IBERIA BRAZIL LATAM LATAM NORTH AMERICA EURASIA REINSURANCE GLOBAL RISKS ASISTENCIA NORTH SOUTH 0.4% +45% -3% +23% +25% -3%
Slide 9: Group Balance Sheet
9 GROUP BALANCE SHEET TOTAL ASSETS €59,626M 63,854 59,626 -6.6% DECEMBER 2021 DECEMBER 2022 SHAREHOLDERS’ EQUITY 8,463 7,289 €7,289M -13.9% 642 343 44 -447 -1,756 DECEMBER 2021 RESULT FOR DIVIDENDS UNREALIZED CURRENCY CONVERSION OTHER DECEMBER 2022 THE PERIOD CAPITAL GAINS DIFFERENCES Million Millon
Slide 10: Investments and Cash
10 INVESTMENTS AND CASH FIXED INCOME 27,185 PUBLIC DEBT 19,779 INVESTMENT PORTFOLIO €41,388M Spain 8,903 Rest of Europe 4,230 78.6% United States 1,009 -10.3% Brazil Latin America - Other 2,734 2,005 FIXED INCOME Other countries 899 AND OTHER CORPORATE DEBT 7,406 ASSETS UNDER MANAGEMENT Investment p
Slide 11: Capital and Solvency
11 CAPITAL AND SOLVENCY SOLVENCY II RATIO *Data until September 2022 CAPITAL STRUCTURE 216.8 % * €11,295M Tier 1 74% 8,357 (84%) EQUITY 7.6% SENIOR DEBT Tier 2 and 3 1,479 (16%) 14.4% SUBORDINATED 3.9% DEBT BANK DEBT DEBT RATIO 26% Million euros.
Slide 12: New International Accounting Standards
12 NEW INTERNATIONAL ACCOUNTING STANDARDS IFRS 9: Financial investments IFRS 17: Insurance contracts Entail changes in the valuation of assets and liabilities New balance sheet and income statement structure DOES NOT AFFECT: • Risk strategy and appetite • Cash generation and dividend policy • Solven
Slide 13: The MAPFRE Share in 2022
13 THE MAPFRE SHARE IN 2022 219,031 3,080 0.21 76.5% 8.7 NUMBER NUMBER EARNINGS PRICE/ PER OF OF SHARES PER SHARE BOOK VALUE SHAREHOLDERS (million) (€ cents) 13
Slide 14: Composition of Shareholders
14 COMPOSITION OF SHAREHOLDERS FREE FUNDACIÓN MAPFRE FLOAT 69.8% INSTITUTIONAL 16.2% INDIVIDUALS 13.4% OTHER SHAREHOLDERS 30.2% TREASURY STOCK 0.6%
Slide 15: Sustainable and Generous Remuneration for Our Shareholders
15 SUSTAINABLE AND GENEROUS REMUNERATION FOR OUR SHAREHOLDERS DIVIDEND PAID IN 2022 + €2,100M IN DIVIDENDS 447M 14.5 TOTAL € PAID OUT cents per share YIELD ON DIVIDEND PAID OVER AVERAGE SHARE PRICE 8.3% OVER 5 YEARS DIVIDEND FOR THE FISCAL YEAR 2020 2021 2022 12.5 cents 14.5 cents 14.5 cents
Slide 16: Share Price Evolution
16 SHARE PRICE EVOLUTION MARKET CAPITALIZATION at 12/31/22 € 5,574M MAPFRE +0.2% IBEX 35 -5.6% STOXX INSURANCE 600 -1%
Slide 17: Thank you very much
17 Thank you very much FERNANDO MATA CFO and Member of the Board