Slide 1: 6M 2020 Results Analyst & Investor presentation
6M 2020 Results Analyst & Investor presentation July 24th, 2020
Slide 2: Key highlights
Key highlights Insurance units performing well > ‐ Benefitting from lower frequency as well as restructuring and profitability initiatives COVID-19 P&L impacts > ‐ Largest impact has been on the top-line due to confinement measures, lower economic activity, currency movements and an unfavorable envi
Slide 3: Key Figures > 6M 2020
Key Figures > 6M 2020 Δ at constant 6M 2020 Δ exchange rates Revenue 13,277 -11.8% -7.6% Total written and accepted premiums 10,983 -12.3% -7.7% - Non-Life 8,763 -9.7% -5.7% - Life 2,220 -21.4% -14.6% Non-Life Combined Ratio - MAPFRE S.A. 96.7% 0.8 p.p Non-Life Loss Ratio 67.6% 0.1 p.p Non-Life Expe
Slide 4: Adjusted attributable result
Adjusted attributable result 6M 2019 6M 2020 Δ (mn) Δ (%) Attributable result 374.5 270.7 (103.8) -27.7% Weather related and NatCat claims (77.3) (77.3) (1) Direct insurance operations (36.0) (36.0) (2) MAPFRE RE (41.3) (41.3) COVID related claims (MAPFRE RE) (56.9) (56.9) Attributable result exclud
Slide 5: Key figures > by business unit
Key figures > by business unit Premiums – Breakdown by business unit Attributable result Premiums Combined ratio ROE (2) ASISTENCIA 6M 2020 Δ mn Δ% 6M 2020 Δ% 6M 2020 Δ p.p. 6M 2020 Δ p.p. IBERIA 221.2 (10.5) -4.6% 3,978 -8.3% 93.8% -0.0 p.p 11.8% -0.8 p.p 2.7% of which: IBERIA MAPFRE ESPAÑA* 132.9
Slide 6: Shareholders’ equity
Shareholders’ equity Change in shareholders’ equity (€ mn) Currency conversion differences (€ mn) Sensitivity to 1 06.30.2020 Δ % Δ currency pp move in currency Balance at 12/31 previous year 8,854 Total -1,664 ** -424 - Result for the period 271 of which: Dividends -262 US dollar 487 -3 -0.2% 19 Ne
Slide 7: Capital structure & credit metrics
Capital structure & credit metrics Capital structure Solvency II position (€ mn) 12.31.2019 03.31.2020 Subordinated Eligible Own Funds (EOF) 8,976 8,197 debt Bank financing 9% Solvency Capital Requirement (SCR) 4,805 4,625 7% EOF-SCR 4,171 3,572 Senior debt 8% Solvency II ratio 186.8% 177.2% Equity
Slide 8: Investment portfolio & Assets under management
Investment portfolio & Assets under management Investment portfolio – Breakdown by asset class Assets under management 51.3 12.31.2019 06.30.2020 %Δ 2.0 Assets under management 63.6 60.9 -4.3% Other investments (4%) 2.3 Unit Linked (4.5%) of which: 2.7 Cash (5.2%) 1.6 Investment portfolio 53.5 51.3
Slide 9: Fixed income portfolios
Fixed income portfolios Euro area - actively managed (IBERIA & MAPFRE RE) Market value Accounting Yield Market yield Modified (€bn) (%) (%) duration (%) 12.31.2019 7.27 1.95 0.78 8.25 NON-LIFE 06.30.2020 7.15 1.78 0.62 8.22 12.31.2019 6.82 3.53 0.33 6.89 LIFE 06.30.2020 6.56 3.56 0.34 6.77 Other mai
Slide 10: Closing remarks
Closing remarks Insurance units (€428.6 mn net result, +12.7%) > outstanding performance with combined ratio of 93.8%, despite impact of Puerto Rico earthquakes on insurance unit ‐ IBERIA (€221 mn, -4.6%) > remarkable growth in several Non-Life segments with strong profitability trends even with a p
Slide 11: Terminology
Terminology Revenue Top line figure which includes premiums, financial income, and revenue from non-insurance entities and other revenue Combined ratio – Non-Life Expense ratio + Loss ratio Expense ratio – Non-Life (Operating expenses, net of reinsurance – other technical revenue + other technical e
Slide 12: Disclaimer
Disclaimer This document is purely informative. Its content does not constitute, nor can it be interpreted as, an offer or an invitation to sell, exchange or buy, and it is not binding on the issuer in any way. The information about the plans of the Company, its development, its results and its divi