Mapfre, S.A. (MPFRF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Mottray's activity update for the first quarter of 2026. This is Leandra Clark, Head of Investor Relations and Capital Markets. Thank you very much for joining us. We are pleased to have with us Jose Manuel Enchausti, Vice President of Mottray, who will open the presentation with some remarks and an overview of recent business trends. He will be followed by Jose Luis Jimenez, our Group CFO, who will review the main financial highlights. and Felipe Navarro, Deputy General Manager of the Finance Area, will walk you through the balance sheet as well as the 2025 embedded value figures, which were also released this morning on our website. Before we go into the details, I would like to mention that we have adapted the format of this presentation to reflect your feedback on disclosure. We are aware that many analysts are modeling our business on a regional rather than segment approach. and we have adapted the presentation accordingly. We hope this updated format better meets your needs, and as always, we are open to any further feedback. As a reminder, Mott Prairie reports its IFRS financial information on a half-year basis. The information included in this activity update has been prepared under the accounting policies applicable in each country, which generally do not apply IFRS 17 and 9. Finally, as a reminder, you can submit questions at any point during the call using the Ask a Question link, and we will address them during the Q&A session at the end of the presentation. And with that, I will now hand the floor over to Jose Manuel Enchausti. Thank you, Leandra. Good morning, everyone, and thank you for joining us today. Let me begin by highlighting the strength of MAFRA results this quarter. with a net profit of 311 million, an excellent pe...