Mapfre Sa · BME:MAP
Mapfre Sa — FY2020 Earnings Presentation
31 slides from Mapfre Sa's earnings presentation, Feb 11, 2021
Slide 1: Filing to the Spanish Securities and Exchange Commission
Madrid, February 11, 2021 SPANISH SECURITIES AND EXCHANGE COMMISSION Please find attached the documentation to be presented to the press in upcoming meetings. Ángel L. Dávila Bermejo General Counsel
Slide 2: Results Presentation 2020
RESULTS PRESENTATION 2020 55 poo et MAPFRE
Slide 3: MAPFRE has passed the 2020 stress test
MAPPRE DAS PASS#0 Tre 2020) STRESS TEST ® MAPFRE
Slide 4: Slide 4
Slide 5: Strategy against
STRATEGY AGAINST
Slide 6: MAPFRE has passed the 2020 stress test
MAPFRE HAS PASSED THE 2020 STRESS TEST ° ' The COVID-19 crisis has produced asymmetric economic impacts on the P&L and balance sheet REPORTED CLAIMS LINE AMOUNT HEALTH 59 BURIAL 30 LIFE PROTECTION 83 TRAVEL ASSISTANCE [Travel insurance) 23 OTHER LINES (Homeowners, Multirisk etc.) 14 IBNR 44 TOTAL IN
Slide 7: The figures at a glance
THE FIGURES AT A GLANCE _ NON-LIFE = COMBINED RATIO PREMIUMS a Be ATTRIBUTABLE 20,482 = EARNINGS 94.8% -11.1% , oe -2h%** -2.2%* CONSOLIDATED REVENUES 25,419 -10.7% SOLVENCY RATIO 180% Million eures. “Variations at constant exchange rates and excluding the two-year PEMEX policy. **Excluding goodwill
Slide 8: As a result... generous and sustainable remuneration for our shareholders
Slide 9: Results Presentation 2020 - Fernando Mata, CFO
RESULTS PRESENTATION 2020 FERNANDO MATA CORONAVIRUS CFO and Member of the Board ra PANDEMIC ® MAPFRE
Slide 10: Revenues and premiums
REVENUES AND PREMIUMS , CONSOLIDATED REVENUES €25,409M -10.7% TOTAL PREMIUMS -11.1% -20,482. ~ y_CC23.066 20,482 16,110 +1.1% -1.9% -3.3% -7% Peorscccccaod WRITTEN UNDERLYING PEMEX DROP IN ERIA CURRENCY WRITTEN PREMIUMS PREMIUM EFFECT LIFE SAVINGS CONVERSION PREMIUMS 2019 GROWTH 2020 2,437 2,500 NON
Slide 11: Earnings breakdown
EARNINGS BREAKDOWN NET EARNINGS €527M -13.6% 873 -5% -25% NON-LIFE LIFE Million euros. “Includes other activities, Holding costs and hyperinflation adjustments. **Catastrophic events and goodwill writedowns. 10 ADJUSTED GROUP EARNINGS 2019 2020 NET EARNINGS CATASTROPHIC EVENTS GOODWILL WRITEDOWNS AD
Slide 12: Group overview
GROUP OVERVIEW " TOTAL ASSETS 72,510 69,153 -4.6% DEC. 2019 DEC. 2020 €7,860M SHAREHOLDERS’ ne EQUITY 8,854 Total €4,069M Life policyholders €2,787M “Js % Group net €1,282M 275 BALANCE RESULT FOR DIVIDENDS UNREALIZED CURRENCY BALANCE 01/01/2019 THE PERIOD CAPITAL GAINS CONVERSION 01/01/2020 DIFFEREN
Slide 13: Investments and cash
INVESTMENTS AND CASH INVESTMENT PORTFOLIO €44,893M -16.1% FIXED INCOME AND OTHER 81% EQUITY AND FUNDS 9% REAL ESTATE 5% Million eures. Variations against December 2019. FIXED INCOME €31,532M | 23,396 | Spain 12,761 Rest of Europe 4,401 United States 1,524 Brazil 2,245 Latin America - Rest 1,697 Othe
Slide 14: Capital and solvency
CAPITAL AND SOLVENCY CAPITAL STRUCTURE €12,832m SENIOR DEBT 8», BANK DEBT 7% SUBORDINATED DEBT DEBT RATIO 2020 23% SOLVENCY SOLVENCY II RATIO 180%" Tier 1 €7,373M (86%) Tier 2 €1,196M (14%) 3 Quarter ® MAPFRE
Slide 15: Premiums/earnings by business unit
PREMIUMS/EARNINGS BY BUSINESS UNIT " PREMIUMS NET EARNINGS INSURANCE 16,691 -13% RE 5,687 790 wine +2% GLOBAL RISKS 1,256 ASISTENCIA 2 15 - 619 24 -28% INSURANCE REINSURANCE GLOBAL ASISTENCIA RISKS Million euros. ® MAPFRE Data do not include consolidation adjustments.
Slide 16: All insurance combined ratios are below 100%
ALL INSURANCE COMBINED RATIOS ARE BELOW 100% 15 COMBINED RATIO GROUP 94.8% (-29p.».) INSURANCE COMPANIES 92.9% (¥-3.6 p.p.) 101.2% 93.3% 93.9% 90.5% LATAM NORTH IBERIA GLOBAL RISKS LATAM NORTH EURASIA REINSURANCE SOUTH AMERICA F -épp. HF -~L2pp. H-2épp. -20.3pp. F-Spp. -27pp. H -72pp. @ s2pp. ® MAPF
Slide 17: Distribution of premiums
DISTRIBUTION OF PREMIUMS GENERAL P&C 28% REINSURANCE 25% Data do not include consolidation adjustments. AUTOMOBILE 24% LIFE 17% HEALTH 6% ® MAPFRE 6
Slide 18: Insurance business regional breakdown: Iberia
INSURANCE BUSINESS REGIONAL BREAKDOWN 6,862 IBERIA 9 PREMIUMS €6,999M -9% NET EARNINGS €453M -9% COMBINED RATIO 92% ROE 10.6% Million euros. SPAIN 137 +1% PORTUGAL 2,134 +5% 1,677 ”7 verti Premiums €18.5M 715 +3% AUTOMOBILE GENERAL P&C LIFE HEALTH AND ACCIDENT ® MAPFRE
Slide 19: Insurance business regional breakdown: Brazil
INSURANCE BUSINESS REGIONAL BREAKDOWN BRAZIL 9 1,432 PREMIUMS €3,085M -22% NET EARNINGS €102M +5% GENERAL COMBINED RATIO P&C 87.6% (-4.6 p.p.) ROE 11.3% Million euros. ‘Variations in local currency. 1,210 LIFE AUTOMOBILE 8 © MAPFRE
Slide 20: Insurance business regional breakdown: North America
INSURANCE BUSINESS REGIONAL BREAKDOWN NORTH AMERICA 9 UNITED STATES PREMIUMS 1,743 €2,098M -10% ~11% NET EARNINGS €76M -3% COMBINED RATIO 97.7% Million euros. ‘*Variations in local currency. | 1,562 —— NORTHEAST 181 | 31% | OTHER STATES w 355 PUERTO RICO ® MAPFRE
Slide 21: Insurance business regional breakdown: LATAM North
INSURANCE BUSINESS REGIONAL BREAKDOWN * LATAM NORTH 9 771 _ PREMIUMS ES ES €1,575M -20% [ieio 325 _ 67 NET EARNINGS MERICA = 2 €70M +10% 804 ROE +24% +117% 15.8% MEXICO DOMINICAN PANAMA = ® MAPFRE
Slide 22: Insurance business regional breakdown: LATAM South
INSURANCE BUSINESS REGIONAL BREAKDOWN * LATAM SOUTH PREMIUMS €1,450M -9% NET EARNINGS €59M +7% 141 +26%" -18% COLOMBIA ARGENTINA ROE 10.3% PERU ® MAPFRE Million euros. ‘*Variations in local currency.
Slide 23: Insurance business regional breakdown: Eurasia
INSURANCE BUSINESS REGIONAL BREAKDOWN * EURASIA 9 Auto CR PREMIUMS €1,483M -13% NET EARNINGS €31M +106% COMBINED RATIO 98.9% ® MAPFRE
Slide 24: Share price
SHARE PRICE A3.5% «ot 7 . . . 7 . Bt-Dec Sten Feb Ste WApr Stay 30-un DhMl SAug Sep 3-Oct WNov 31-De ——~MAPFRE IBEX35 -——STOXX Insurance 600 (Europe) -—— Spanish Banks Share price movement from December 31, 2019 to December 31, 2020 Source: Bloomberg and own calculations. Spanish banks. periniel| CA
Slide 25: Results Presentation 2020 - Antonio Huertas, Chairman and CEO
MAPFRE RESULTS PRESENTATION 2020 ANTONIO HUERTAS Chairman and CEO of MAPFRE
Slide 26: Business strengths
BUSINESS STRENGTHS — I BRAZIL €445M 190. EARNINGS INSURANCE BUSINESS USA Northeast €102M sean €110M 25 of 26 Insurance Unit 4 countries delivering positive results «625m CORE countries lead | earnings contribution BUSINESS CONTINUITY IS ASSURED, as is the protection of our STAKEHOLDERS The key prior
Slide 27: Financial strength, ratings and quality of capital
Financial Pa Strength a“ ratings: Fitch Quality Ve ] ») X SS S of Capital : i> a, Technical result - Insurance Cash position: Combined Ratio
Slide 28: Dividend: our commitment to shareholders is proven
DIVIDEND OUR COMMITTMENT TO SHAREHOLDERS IS PROVEN Dividend paid in 2020: 13.5 cents per share l €4,1 6M paid out in dividends in 2020 — 8., Dividend yield 73. Payout we 1 3 Cents . per share 2020 9 €416M 2019 €447M 2018 ® €447M 2017 @ €447M 2016 @ €400M 27 ® MAPFRE
Slide 29: MAPFRE, the heart that moves us
MAPFRE THE HEART THAT MOVES US
Slide 30: ESG indicators and responsible investment
j . 29 wa ’ f C C) re ea rep \ ) r ates GLOBAL UNDERTAKINGS OBJETIVOSE ESG INDICES ~~ 88 - £ e) Po @ = ey rn Rl 7 ® a a 8 Dow Jones WE . Sustainability FiNANCE nvestment 6 indexes ESG INDICATORS RESPONSIBLE INVESTMENT 9 0% Gender Equality Carbon Neutrality Workforce Inclusion 46.3% of vacancies for
Slide 31: Results Presentation MAPFRE
RESULTS MAPFRE PRESENTATION WJ 5 4 | came ine, Lad Vi ST" peace rAABAL E