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Result Setembro 2020

A MAPFRE quer que os seus acionistas conheçam a informação da companhia, seus resultados, o pagamento de dividendos e os acontecimentos relevantes. O Boletim do Acionista resume os dados mais significativos sobre a atualidade do Grupo no período. Além disso, aqui você pode encontrar o arquivo histórico dos boletins, bem como o formulário de inscrição para recebê-lo.

Results September 2020

MAPFRE’s consolidated revenue in the third quarter of 2020 amounted to 19.1 billion euros, equivalent to an 11.9 percent decrease, and the attributable result stood at 450 million euros, representing a 2.7 percent fall with respect to the previous year.

Million euros.

Revenue September 2020

The Group’s consolidated revenue in the third quarter of 2020 reached 19.1 billion euros, with a decrease of 11.9 percent, mainly due to the fall in written premiums and lower financial income. The depreciation of the main currencies on our balance sheet has also played an important role in the decline, as at constant exchange rates revenue would have only fallen 6.2 percent.
Million euros.
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Premiums September 2020

Premiums from direct insurance and accepted reinsurance reached 15.5 billion euros, with a decrease of 11.9 percent, due in part to the effects on new business of the confinement of the population from COVID-19, and to the strong depreciation of the main currencies in Latin American countries and in Turkey. At constant exchange rates, premiums would have only fallen 5.5 percent.
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.

Million euros.
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Combined ratio September 2020

The Group’s combined ratio stood at 95.2 percent at the close of September, affected by the direct impacts from COVID-19, NatCat events and large man-made losses, which have been partially offset by a strong fall in frequency across main markets, mainly in Motor. The combined ratio of the insurance units stood at 93 percent, improving 2.9 percentage points.

Net result September 2020

The accumulated attributable result to September 2020 reached 450 million euros, falling 2.7 percent, affected by the earthquakes in Puerto Rico, as well as by the impact of COVID-19 related claims. Lower frequency in Non-Life lines, especially Auto, has offset COVID-19 related claims and the fall in the financial result. The attributable result of insurance entities amounted to 610 million euros, which represents a 7.5 percent increase compared to the previous year.
Million euros.
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Balance sheet

Balance sheet to 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.

Million euros.

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%
Billion euros.
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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.
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Relevant events

Acuerdo con Puy du Fou para el proyecto de un parque temático en Toledo

Standard & Poor’s maintains MAPFRE’s rating with a stable outlook

October 2020
Standard & Poor’s announced its decision to maintain MAPFRE’s rating, thanks to “the strong diversification of the Group by countries and business lines, supporting its leading position in its main markets”.
El MAPFRE AM Good Governance alcanza el liderazgo de su categoría

MAPFRE AM Good Governance tops its category

October 2020
So far this year, MAPFRE AM Good Governance, a global equity fund that invests in companies with good corporate governance, is achieving returns of nearly 17 percent and is 20 points above its benchmark, making it one of the best funds in its category.
MAPFRE lanza «RENTA DIVIDENDO EUROPA», un nuevo Unit Linked ligado al Índice EuroStoxx 50

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 mantiene el rating de fortaleza financiera aseguradora de MAPFR

Fitch maintains MAPFRE’s insurer financial strength rating

September 2020
The Fitch agency has decided to maintain MAPFRE’s financial strength credit rating at A+, with a stable outlook, due to the “strength of MAPFRE’s business profile, as well as its solid capital levels and earnings”.
MAPFRE sitúa el ratio de Solvencia II en el 184% al cierre del primer semestre del año

MAPFRE’s Solvency II ratio stands at 184% at the close of the first half of the year

September 2020
It improves seven points compared to the first quarter, and remains within the range set by the company of 25 points above or below 200 percent.
MAPFRE refuerza los equipos directivos en sus principales mercados

MAPFRE reinforces management teams in its principal markets

September 2020
MAPFRE has approved a broad renewal of its management teams to advance its strategic objectives, and accelerate the company’s transformation agenda, strengthening capacities in the main regions where it operates.
MAPFRE y Abante se alían con Macquarie para el lanzamiento de un fondo de infraestructuras de 200 millones

MAPFRE and Abante join forces with Macquarie to launch a 200-million-euro infrastructure fund

September 2020
MAPFRE Infraestructuras FCR, managed by Abante, will invest in funds run by the Australian firm Macquarie, which is the world’s largest infrastructure investor. MAPFRE will be the principal investor in the vehicle, targeted at institutional investors and private banking.
MAPFRE y Sudameris Bank acuerdan una alianza en Paraguay para impulsar la expansión de su negocio de bancaseguros

MAPFRE and Sudameris Bank join forces in Paraguay to promote their bancassurance business expansion

August 2020
MAPFRE PARAGUAY, insurance market leader, has joined forces with Sudameris Bank to expand its presence in the country.
MAPFRE lanza «RENTA DIVIDENDO EUROPA», un nuevo Unit Linked ligado al Índice EuroStoxx 50

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 y MAPFRE distribuirán conjuntamente seguros de no vida en Portugal

Santander and MAPFRE to jointly distribute Non-Life insurance in Portugal

July 2020
Through the Santander network in Portugal, the bank will be the exclusive distributor of MAPFRE’s automobile, SME multirisk and third-party liability insurance.
MAPFRE AM y GSI lanzan un fondo de impacto social con un primer objetivo de 50 millones para financiar empresas

MAPFRE AM and GSI launch a social impact fund with a first goal of 50 million to finance companies

July 2020
MAPFRE AM and Global Social Impact Investments SGIIC (GSI) are joining forces to provide financing to companies with high social impact on both frontier and emerging markets.
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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

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