Results
Revenue March 2019
Premiums March 2019
The development of premiums is in line with the Group strategy for “profitable growth”, which aims to improve the profitability of mainly Non-Life insurance.
Non-Life premiums grew by 0.7 percent, while Life premiums grew 13.7 percent, with a 6.6 percent increase in Life-Protection in the latter. By Non-Life business type, Auto is the most important line, with almost 1.8 billion euros in premiums. General P&C holds second place, with 1.5 billion euros, and Health and Accidents is in third place with 0.8 billion euros in premiums.
At constant exchange rates, premiums would have grown by 3.9 percent; 1.0 percent in Non-Life and 15.3 percent in Life.
Combined ratio March 2019
Net result March 2019
The attributable result reached 188.1 million euros, a rise of 0.6 percent. This result includes:
- An increase in the Non-Life technical result, with improvements in North America, Brazil, and the rest of LATAM.
- The fall in Non-Life net financial income.
- Higher results from the Life business both in Spain as well as Brazil.
Balance sheet
Balance sheet to March 2019
Total assets reached 71.3 billion euros at March 31, 2019 and grew 5.9 percent compared to the close of the previous year. These changes include increases in Financial Investments and in Technical Provisions, due to the growth from insurance activity and market movements.
The Increase in Shareholders’ equity reflects the improvement in the market value of financial assets available for sale, and the positive development of currency conversion differences, primarily from the appreciation of the US dollar.
Assets Under Management
Solvency II
The Solvency II ratio stood at 190 percent to December 2018, compared to 200 percent at the close of 2017. The ratio maintained great solidity and stability, backed by high levels of diversification and strict investment and ALM policies.
- High quality capital base: 87% of eligible own funds are Tier 1.
- “Fully loaded” Solvency II ratio: 173% (excluding impact of transitional measures on technical provisions and equity).
Strategic Plan 2019-2021
Client orientation
Our team is 100% client oriented. We are committed to a competitive model, which puts clients at the center of everything we do, with the aim of offering an optimal experience at every moment of contact with MAPFRE. We want to know, understand and enhance customer loyalty; increase productivity in all our channels and innovate in products, services and experiences for our clients.
Excellence in technical and operational management
We work to improve our efficiency, adapting our structure to offer an excellent service, with a global, flexible and open technology that enables us to increase our competitiveness.
Culture and talent
Strengthening the commitment of everyone working at MAPFRE, we wish to continue adapting to changes with new skills that allow us to face future challenges.
We continue working to become a benchmark for sustainability. MAPFRE is a group committed to sustainable development and, especially, with the fight against climate change.
Relevant events
MAPFRE, participates in the financial summit, Spain Investors Day
January 2019
MAPFRE teCuidamos clients have accumulated 1.6 million euros in savings in 2018 in gas stations and insurance policy renewals. This has been possible thanks to the agreement with close to 1,500 service stations all over the country, which offer up to a 5% discount.
Santander Spain and MAPFRE sign an alliance to distribute Auto, SME and Commercial insurance
January 2019
MAPFRE and Santander signed an agreement by virtue of which, until December 2037, the financial entity will exclusively distribute Auto, Commercial Multirisk, SME Multirisk and Third Party Liability insurance from a new company, to which MAPFRE will contribute 82.2 million euros for control of 50.01% and Santander Seguros will be the owner of the remaining 49.99%.
Fitch raises MAPFRE’s insurance financial strength rating one notch
January 2019
The rating agency Fitch has raised MAPFRE’s insurance financial strength rating one notch from ‘A’ to ‘A+’, which translates to better ratings for five Group entities: MAPFRE ESPAÑA, MAPFRE VIDA, MAPFRE RE, MAPFRE GLOBAL RISKS and MAPFRE ASISTENCIA. Also, the rating agency has confirmed MAPFRE’s issuer rating as ‘A-’.
MAPFRE AM launches an investment fund based on the economy’s behavior
February 2019
MAPFRE AM recently released an investment fund on the market, the main objective of which is to exploit the inefficiencies caused by the behavior of market players. It is called MAPFRE Behavioral Fund, and it is now part of the portfolio of investment products offered by the MAPFRE Group asset management company.
MAPFRE meets with its shareholders in Barcelona and Madrid to explain the 2018 results
MAPFRE held meetings on February 25 and 26 in Barcelona and Madrid, respectively, to explain the key figures from 2018 to its non-institutional shareholders. This is the third consecutive year that MAPFRE has carried out this initiative, with the aim of developing a closer relationship with this collective.
MAPFRE launches “Valor Activo”, a Unit Linked product tied to Eurostoxx50
March 2019
MAPFRE launches “Valor Activo”, a single-premium Unit Linked Life-Savings insurance product with a 2-year duration, tied to the development of the Eurostoxx50 stock index.
“Transforming ourselves for growth and improved profitability” MAPFRE’s new strategic plan for the next three years
March 2019
At its Annual General Meeting, MAPFRE presented the Group’s new strategic plan for the 2019-2021 period, under the slogan “We’re transforming ourselves for growth and improved profitability”. This plan is underpinned by client orientation, excellence in technical and operational management and in human talent and culture, with transformation driving all these pillars, and focusing on the two cornerstones driving Group activity: the client and business profitability.
MAPFRE closes a bancassurance agreement with Actinver in Mexico
March 2019
MAPFRE closed a strategic alliance in Mexico with the wealth management company Actinver, which allows MAPFRE to continue growing in this market. The agreement includes the exclusive sale in the Actinver channel of all the bancassurance products the insurer has in the country.
Dividends and Shareholders
MAPFRE continues creating value for its shareholders
The Board of Directors approved a final dividend for 2018 of 0.085 euros gross per share, which will be paid on June 25, 2019. With this, the total dividend paid against 2018 earnings reaches 0.145 euros gross per share, which implies a payout ratio of 84.4 percent.
Share Performance
MAPFRE – IBEX 35 – Stoxx Insurance
Share price evolution: January 1, 2019 – March 31, 2019
