Revenue June 2019
The Group’s consolidated revenue reached 15.1 billion euros, with an increase of 6.8 percent, mainly due to the rise in premium issuing and greater financial income.
Premiums June 2019
Premiums from direct insurance and accepted reinsurance reached 12.5 billion euros, with an increase of 4.7 percent, primarily due to positive development in countries like Spain, Mexico, Chile, Peru and the Dominican Republic. Spain stands out with excellent growth of +5.1 percent, with solid development in Non-Life lines: Health (+5.0 percent), Auto (+2.3 percent), and Homeowners (+4.9 percent), and above all the Life line which grew 10.3 percent.
At the close of June 2019, the multiyear PEMEX policy was renewed in Mexico for the amount of 445.1 million euros.
Non-Life premiums grew 5.1 percent, marked primarily by the effect of issuing the PEMEX policy, while Life premiums grew 10.7 percent, of which, Life-Protection grew 10.8 percent, primarily from the positive development of this business in Brazil (+18.3 percent), and Life-Savings grew (+10.6 percent) as a result of the elevated growth of this business in Spain (+11.3 percent). By Non-Life business type, Auto is the most important line, with almost 3.5 billion euros in premiums. General P&C holds second place, also with close to 3.5 billion euros, and Health and Accident is in third place with 950 million euros in premiums.
Combined ratio June 2019
The excellent development of the combined ratio is based on the fantastic behavior in LATAM, especially in Brazil, and in NORTH AMERICA, thanks to the measures implemented within the framework of the profitable growth strategy and the strict risk underwriting and selection approach. IBERIA’s and MAPFRE RE’s combined ratios remain at excellent levels.
Net result June 2019
The attributable result to June 2019 reached 374.5 million euros, a decrease of 2.9 percent. This result includes:
- An increase in the Non-Life technical result, with significant improvements in LATAM, especially in Brazil, as well as in North America.
- Lower capital gains realized in the period.
- Lower contribution from the Life business.
With regard to MAPFRE’s acquisition (through its subsidiary MAPFRE VIDA) from BANKIA S.A. of 51% of the share capital of the insurance entities Caja Granada Vida, Compañía de Seguros y Reaseguros, S.A. and Cajamurcia Vida y Pensiones de Seguros y Reaseguros, S.A, announced via relevant fact this past December 5, 2018 (registration number 272,126), MAPFRE hereby gives notice that, having obtained the corresponding administrative authorizations, said acquisition has been completed in the terms set out in the above mentioned relevant fact notification.
MAPFRE has become a member of SpainSIF, the non-profit organization that is a point of reference for all financial entities regarding sustainable and responsible investment in Spain.
WiZink and MAPFRE have signed a collaboration agreement by means of which the bank will sell MAPFRE auto and homeowners insurance to its clients. Thanks to this agreement, WiZink clients will be able, by phone, to take out TÚ ELIGES auto insurance in its various forms of coverage, from third party to full coverage, as well as FAMILIAR and TOTAL homeowners insurance.
MAPFRE and SANTALUCÍA have formalized a strategic alliance for the joint development of their respective funeral businesses in Spain. The result of this alliance will be a leading group in the Spanish funeral market with direct and indirect reach extending to 100 percent of the territory, and one of the main players in the European market, providing more than 70,000 funeral services.
MAPFRE clients will be able to benefit from up to a 10% discount in their purchases on Amazon.es. The e-commerce company will apply discounts to MAPFRE clients who shop on Amazon.es, and MAPFRE will reimburse the clients with Tréboles (1 trébol = 1 euro), which they will be able to use for the renewal of their insurance policies.
MAPFRE Inclusión Responsable combines profit with social impact; it is developed in collaboration with La Financière Responsable and will be sold all over Europe. It is the first fund of its kind in the world.
On June 25, MAPFRE shareholders received the payment of the final dividend against 2018 results of 0.0857 euros gross per share. As such, the total dividend paid against 2018 results reaches 0.145 euros per share, totaling 447 million euros, the same amount as the previous year.
With regard to MAPFRE’s acquisition (through its subsidiary MAPFRE ESPAÑA) from BANCO SANTANDER of 50.01% of a newly created company which will sell auto, commercial multi-risk, SME multi-risk and third party liability insurance, to be exclusively distributed in the BANCO SANTANDER network in Spain, announced via relevant fact (number 274035) on January 21, 2019, it is hereby informed that once the corresponding authorizations were received, said acquisition was completed in the terms stated in the above mentioned publication.