Results September 2020
Revenue September 2020
Premiums September 2020
Non-Life premiums went down 8.3 percent, marked primarily by lower issuing in the Auto and General P&C lines, from the effect in the latter segment of the PEMEX policy that was underwritten in 2019. Written Auto premiums fell 16.7 percent, primarily as a result of lower issuing in Brazil, the United States, Italy, Spain and Turkey.
By Non-Life business type, General P&C is the most important line, with 4.3 billion euros in premiums. Auto holds second place, with over 4.2 billion euros, and Health and Accident is in third place with 1.3 billion euros in premiums.
Life premiums fell 23.8 percent. Of these, Life-Protection fell 13.6 percent, primarily from the decline in this business and the currency effect in Brazil. Life-Savings premiums fell 36.4 percent, primarily from the fall in issuing in Spain in a complicated economic environment for the sale of these products.
Combined ratio September 2020
Net result September 2020
Balance sheet
Balance sheet September 2020
Total assets reached 68.8 billion euros at September 30, 2020 and fell 5.1 percent compared to the close of the previous year. These changes include the relevant depreciation of the main currencies in Latin America and the Turkish lira.
The Group’s shareholders’ equity has been primarily impacted by the effects of the COVID-19 crisis, as well as by the aforementioned strong currency depreciation.
Assets Under Management
Solvency II
The Solvency II ratio for MAPFRE Group stood at 183.8 percent at June 2020, compared to 186.8 percent at the close of December 2019. Despite the sharp fall in stock markets and the volatility in general in financial investments, the ratio maintained great solidity and stability, backed by high levels of diversification and strict investment and ALM policies.
- High quality capital base: 86% of eligible own funds are Tier 1.
- Fully loaded Solvency II ratio: 170.6% (excluding impact of transitional measures on technical provisions and equity).
186.8%
183.8%
Strategic Plan 2019-2021
Based on the transformation we need as a company, we are articulating our strategy around three pillars: client orientation, excellence in technical and operational management and culture and talent. The transformation will be present in everything that we do, it will be transversal and it will act as an authentic accelerator across the entire organization.
Client orientation
We are 100-percent client-oriented, and place the client at the center of everything we do so that we can continue to be your trusted insurance company. With the client orientation pillar, we are working to understand your needs and offer you value propositions that are innovative and tailored to each client profile.
Excellence in technical and operational management
We consider excellence in technical and operational management to be a fundamental goal, and key to achieving adequate profitability in the market.
Culture and talent
We believe that it is essential to be able to count on the people and culture of MAPFRE as the bedrock of our whole business. Our people’s effort and commitment drives transformation and helps us to anticipate change by leveraging progress in the digital age. Equal opportunities, diversity and labor inclusion are the transversal principles at the center of our strategy.
Relevant events
Standard & Poor’s maintains MAPFRE’s rating with a stable outlook
October 2020
MAPFRE AM Good Governance tops its category
October 2020
MAPFRE launches CUPÓN ACTIVO, a new Unit Linked tied to the Eurostoxx Select Dividend 30 index
October 2020
MAPFRE is strengthening its Life-Savings insurance product range with the launch of CUPÓN ACTIVO, a new single premium Unit Linked with a duration of just under 4 years, tied to the Eurostoxx Select Dividend 30 index and with guarantee at maturity of 90% of the capital.
Fitch maintains MAPFRE’s insurer financial strength rating
September 2020
MAPFRE’s Solvency II ratio stands at 184% at the close of the first half of the year
September 2020
MAPFRE reinforces management teams in its principal markets
September 2020
MAPFRE and Abante join forces with Macquarie to launch a 200-million-euro infrastructure fund
September 2020
MAPFRE and Sudameris Bank join forces in Paraguay to promote their bancassurance business expansion
August 2020
MAPFRE launches RENTA DIVIDENDO EUROPA, a new Unit Linked tied to the EuroStoxx 50
July 2020
MAPFRE strengthens its offer of Life Savings insurance products with the launch of RENTA DIVIDENDO EUROPA, a new Unit Linked tied to the performance of a stock portfolio with high quarterly dividend yield, listed on the European EuroStoxx50 index.
Santander and MAPFRE to jointly distribute Non-Life insurance in Portugal
July 2020
MAPFRE AM and GSI launch a social impact fund with a first goal of 50 million to finance companies
July 2020
Dividends and Shareholders
MAPFRE continues creating value for its shareholders
The MAPFRE S.A. Board, at its meeting held on October 30, agreed to pay an interim dividend against 2020 results of 0.05 euros gross per share. This dividend will be paid on December 22. With this payment, the Company will have dedicated a total of 416 million euros toward shareholders in 2020.
On June 25, the final dividend of 0.0858 euros gross per share was paid, after having proportionately applied the amount corresponding to treasury stock to the remaining shares.
Share Performance
MAPFRE – IBEX 35 – Stoxx Insurance
Share price evolution: December 31, 2019 – September 30, 2020
