Mapfre’s business performance over the past two years has exceeded expectations, prompting the company to raise its targets. This positive momentum is expected to continue despite the economic disruption caused by the war in Iran, according to Mapfre’s Corporate Director of Investor Relations, Capital Markets and M&A, Felipe Navarro.
At the Annual General Meeting held a month ago, Mapfre announced upgraded targets for this year—the final year of its Strategic Plan 2024–2026—including a return on equity (ROE) above 13% and a combined ratio of 93–94%. These targets remain unchanged despite ongoing international tensions. “We haven’t reached this point due to circumstantial factors. We’ve done so because we’ve significantly improved the way the company operates,” Navarro said.
The strong outlook and the limited impact of the turbulence stemming from the war reflect Mapfre’s solid position and diversification in the insurance business, with low exposure to higher-risk areas and disciplined management of investments, efficiency, and solvency.
A success reflected in share price appreciation
Speaking at a meeting with analysts organized by Renta 4, Navarro said that, in light of the results, the Strategic Plan has been “tremendously successful.” The market has recognized this performance: in 2024, Mapfre’s market capitalization stood at around 6.0 billion euros, a figure that has now nearly doubled.
Shareholder remuneration has also benefited from Mapfre’s improved profitability, with the company increasing its dividend in each of the past two years while maintaining a payout ratio above 50%.
Navarro also highlighted artificial intelligence as a key driver of the company’s transformation. The focus is on customer service, where 150 use cases are already in place, impacting more than six million users.
