Mapfre Sa · BME:MAP
Mapfre Sa — H1 2026 Earnings Presentation
16 slides from Mapfre Sa's earnings presentation, Jul 24, 2026
Slide 1: Results presentation 6M 2026
24 July, 2026 Results presentation 6M 2026 1
Slide 2: Antonio Huertas, Group executive chairman
24 July, 2026 Results presentation 6M 2026 Antonio Huertas Group executive chairman of Mapfre 2
Slide 3: Solid and growing results
Solid and growing results Increased net +9.4% Premiums Combined ratio earnings €16.1BN € 624 M +1.1% 92.8% Iberia grows 16.6% LATAM €218M Strong contribution from Brazil North America EMEA Mapfre Re’s net ROE earnings are up premiums earnings 12.5% grow by +14% 10.5% €186M 13.4% excl. extraordinary
Slide 4: Acquisition of Safety Insurance
Acquisition of Safety Insurance Will drive Will generate Will accelerate Will create value growth profitability innovation for stakeholders ▪ Reinforcing ▪ Increased earnings ▪ Greater investment ▪ Shareholders leadership in per share in data analytics and ▪ Agents Massachusetts technology ▪ Cost an
Slide 5: José Luis Jiménez, Member of the board and CFO
24 July, 2026 Results presentation 6M 2026 José Luis Jiménez Member of the board and CFO 5
Slide 6: Key data
Key data Non-life Revenue Net earnings Premiums combined ratio €19.0BN € 624M €16.1BN 92.8 % +1.5% +9.4% +1.1% -0.3 p.p. 6
Slide 7: Premiums
Premiums Premiums +1.1% 4,635 Main lines of 4,427 0.5% business € 16.1BN 3,364 12,314 2,052 1,695 1,448 3,813 +2.3% NON-LIFE LIFE GENERAL REINSURANCE MOTOR ACCIDENT LIFE LIFE P&C & HEALTH SAVINGS PROTECTION +0.3% +3.8% -1.1% -0.6% +1.4% +8% -0.6% +8.7% 7 Million euros / *At constant exchange rates
Slide 8: Premiums and earnings by business unit
Premiums and earnings by business unit Assistance Insurance Mapfre Re MAWDY 5,348 €13,548M €4,339M 5,979 +5.5% +1.8% -1.5% PREMIUMS 3,099 3,351 2,249 1,286 935 988 262* IBERIA BRAZIL OTHER LATAM NORTH AMERICA EMEA REINSURANCE GLOBAL RISKS ASSISTANCE -0.5% +4.1% +6.6% -6.9% +10.5% +0.3% -7% +10.4% 27
Slide 9: Investments and cash
Investments and cash Investment portfolio Fixed income 35,142 € 51.0BN +5.5% Government debt 23,920 Asset distribution* Spain 8,701 Rest of Europe 5,382 United States 1,748 Equities and Brazil 3,191 Fixed income mutual funds Other Latin American countries 4,146 and other 82.8% 9.8% Other markets 752
Slide 10: Evolution
Evolution Combined ratios 6M 2025 6M 2026 ROE (Main markets/business units) Non-life ratio 93.1% 92.8% -0.3 p.p. General P&C 81.2% 81.1% -0.1 p.p. June 2026 Motor 99.6% 98.4% -1.2 p.p. Accident and health 95.8% 97.9% +2.1 p.p. Iberia 14.6% Life protection ratio 84.1% 87.9% +3.8 p.p. Total LATAM 14.1
Slide 11: IFRS 17&9
IFRS 17&9 Homogenized local accounting IFRS 17&9 Indicator (Homogenized local accounting / IFRS 17&9) 6M 2025 6M 2026 Δ% 6M 2025 6M 2026 Δ% Premiums 15,947 16,127 1.1% - - - Insurance revenue* - - - 13,165 13,622 3.5% Combined ratio 93.1% 92.8% -0.3 p.p. 91.1% 90.4% -0.7 p.p. Net result 570 624 9,4%
Slide 12: Financing of Safety acquisition
Financing of Safety acquisition Financing structure Funded with: Approximately 10 p.p. 1 impact on the Solvency II € 700M of Tier 2 debt € 500 of senior debt M ratio and 2 7 p.p. on leverage and the remainder in bank debt Mapfre does not expect an A bridge facility will provide certainty and impact
Slide 13: Acquisition of Safety Insurance
24 July, 2026 Acquisition of Safety Insurance Jaime Tamayo CEO of Mapfre North America 13
Slide 14: Safety Insurance acquisition: clear strategic and financial rationale
Safety Insurance acquisition: clear strategic and financial rationale ▪ Insurance carrier with a solid track record and a strong presence in the agent channel Transaction terms ▪ Will boost Mapfre’s market leadership to and structure Strategic 25% Motor 17% Homeowners strength ▪ Expanded scale in a
Slide 15: Solid and growing results
Solid and growing results +9.4% Earnings € M Group profitability Positive outlook is growing despite uncertainty Diversified and resilient Safety Insurance: disciplined and profitable growth. business model Coherent with our strategy 15
Slide 16: Results presentation
24 July, 2026 Results presentation https://twitter.com/MAPFRE https://www.linkedin.com/company/mapfre/ https://www.instagram.com/mapfre/ 6M 2026 16