Results December 2021
Revenue December 2021
Premiums December 2021
Premiums from direct insurance and accepted reinsurance reached over 22.2 billion euros, with an 8.2 percent increase, primarily due to the previously mentioned policy in Mexico, the favorable development of issuing in the reinsurance business, and the positive commercial performance of Life-Savings products in Spain. At constant exchange rates, premiums would have grown 10.7 percent.
Non-Life premiums grew 7.2 percent, thanks to the positive performance in Mexico, Spain, Brazil and Colombia, especially in General P&C and Health lines. On the other hand, the 3.8 percent reduction in issuing in the Auto line comes primarily from Italy, the United States and Turkey, countries in which MAPFRE has decided to reduce its risks in this line.
By Non-Life business type, General P&C is the most important line, with almost 6.6 billion euros in premiums. Auto holds second place, with almost 5.4 billion euros. Health & Accident is in third place with almost 1.6 billion euros.
Life insurance premiums grew 11.8 percent thanks to improved Life-Savings business, which was supported by higher sales of unit-linked products, as well as some relevant group policies in Spain. Life-Protection grew 3 percent, primarily from improved business in Mexico and Colombia
Combined ratio December 2021
Net result December 2021
Balance sheet to December 2021
Total assets reached over 63.9 billion euros at December 2021 and decreased 7.7 percent compared to the close of the previous year, primarily due to the exit of the BANKIA VIDA operation from MAPFRE’s scope.
The Group’s shareholders’ equity is slightly down on the year, mainly due to the reduction of unrealized capital gains on fixed income securities as a result of interest rate increases.
Assets Under Management
The Solvency II ratio for MAPFRE Group stood at 193.8 percent with figures at September 2021, compared to 192.9 percent at the close of December 2020, including transitional measures. This ratio sits comfortably near the midpoint of our target range and is aligned with our risk appetite.
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: 181% (excluding impact of transitional measures on technical provisions and equity).
Strategic Plan 2019-2021
Excellence in technical and operational management
Culture and talent
MAPFRE launches Cupón Revalorización Dólar
MAPFRE has launched a new unit linked single-premium savings product, with returns tied to the EURUSD index, which reflects the exchange rate between the euro and the US dollar.
MAPFRE, the only Spanish insurer recognized in the Sustainability Yearbook 2022
MAPFRE, in the Bloomberg Gender Equality Index 2022
Close to half of MAPFRE employees in Spain signed up for the company’s new stock option plan
MAPFRE, recognized as the most valuable insurer in Spain
MAPFRE has received 571 million euros for the termination of its agreement with Bankia
MAPFRE and CaixaBank signed, on December 29, the termination of their bancassurance agreement, a process that began due to a change in ownership last March, once Bankia’s integration process into CaixaBank had been approved.
MAPFRE forges a network of bancassurance partnerships to strengthen its leadership in Latin America
Meeting with Banco do Brasil, MAPFRE’s largest bancassurance operation in the world
MAPFRE launches InverSelect 30, a new unit linked tied to the Eurostoxx Select Dividend 30 index
MAPFRE participates in the XIV Forum of “Companies that Create Value for Shareholders,” held by EL ECONOMISTA
MAPFRE, in the top 10 Ibex Companies providing shareholders with the highest quality information
Dividends and Shareholders
MAPFRE continues creating value for its shareholders
On November 30, 2021, the interim dividend of 0.0606 euros gross per share was paid, after having proportionately applied the amount corresponding to treasury stock to the remaining shares.
The final dividend proposed at the Annual General Meeting is 0.085 euros gross per share. As such, the total dividend against the 2021 fiscal year reaches 0.145 euros gross per share, which implies a payout ratio of 58.4 percent.