Resultados

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 December 2018

MAPFRE’s consolidated revenue in 2018 reached 26.6 billion euros, and the attributable result amounted to 529 million euros.

Due to the moderation of medium and long-term expectations for profit growth in our insurance operations in the United States, Italy and Indonesia, there was an extraordinary goodwill writedown of 173.5 million euros. Excluding this effect, net result would have amounted to 702.3 million euros, which represents an increase of 0.3 per cent.

Million euros.

Revenue December 2018

The Group’s consolidated revenue reached 26.6 billion euros, with a reduction of 5 percent, mainly due to the depreciation of the main currencies in the countries where MAPFRE operates, and the fall in financial yields.

At constant exchange rates, revenue would have grown 0.8 percent.

Million euros.

Premiums December 2018

Premiums from direct insurance and accepted reinsurance reached 22.5 billion euros, with a reduction of 4 percent, primarily due to the effect of currency depreciation and a discreet development of premium issuing in the following countries: Brazil, United States, Turkey, Colombia, Chile and Argentina.

Issuing in Spain includes a group Life policy for the amount of 282 million euros.

Eliminating the effect of the PEMEX policy that was issued in the first half of 2017 and is not recurrent as it is issued every two years, and the effect of the group Life policy issued in 2018, the decrease in premiums would stand at 3.2 percent.

Non-Life premiums fell by 6 percent, while Life premiums grew 2.8 percent. By Non-Life business type, Automobile is the most important line, with 6.9 billion euros in premiums. General P&C holds second place, with 5.6 billion euros, and Health and Accidents is in third place with 1.3 billion euros.

At constant exchange rates, premiums would have grown 2.1 percent – 0.2 percent in Non-Life and 8.5 percent in Life. Eliminating the effect of the PEMEX policy and the group Life policy, premiums would have grown 3 percent.

Million euros.

Combined ratio December 2018

The improvement in the combined ratio is based on an excellent loss experience in Spain, as well as the improvement in the GLOBAL RISKS and North America business units, which were very affected last year by claims with a high level of intensity. MAPFRE RE performed in line with expectations, despite the impact of Typhoon Jebi.

Net result December 2018

The attributable result reached 528.9 million euros, a reduction of 24.5 percent. This result includes:

  • An extraordinary goodwill writedown of 173.5 million euros
  • The cost of certain catastrophic events that have impacted MAPFRE RE
  • The fall in net financial income
  • The costs coming from the reorganization in the US and the writedown of tax receivables in Global Risks
  • The restatement for hyperinflation in Argentina
  • The depreciation of currencies where MAPFRE operates.

Million euros.

Balance sheet

Balance sheet December 2018

Total assets reached 67.3 billion euros and fell 0.4 percent compared to the close of the previous year. The most relevant changes correspond to variations in Financial Investments, the increase in Technical Provisions and the reduction in Equity. This reduction is a result of the decrease in both non-controlling interests and in shareholders’ equity, in an environment of falls, primarily in European equity markets, and of the impact of negative currency conversion differences.

In September, MAPFRE issued subordinated debt amounting to 500 million euros, which was placed among over 80 investors in various countries, and with a coupon of 4.125 percent.

Million euros.

Assets under management

200.2%

207.9%

Solvency II

  • The Solvency II ratio stood at 208 percent to September 2018, compared to 200 percent at the close of 2017. The ratio maintained great solidity and stability, backed by high levels of diversification and strict investment and ALM policies.
  • High quality capital base: 88% of eligible own funds are Tier 1.
  • “Fully loaded” Solvency II ratio: 188.6% (excluding impact of transitional measures on technical provisions and equity).

Strategic Plan 2016-2018

Client orientation

Clients have always been the focal point of our efforts each and every day. Our goal in this three-year period is to generate profound insight into our clients, and to transform our processes and offering in order to address their current and future needs, as well as enhancing the client experience in all markets, and with all products.

Excellence in technical and operational management

MAPFRE is aiming to bolster those areas that have traditionally formed the basis of its insurance activities. To achieve this we will optimize each product, improving services to ensure that we are more competitive and deliver on performance and profitability targets.

Digital transformation

The objective is to improve our capacity to interact with clients, with simpler procedures that empower clients to manage their own products. We will optimize tools in order to provide more services, enhance quality and generate greater value for clients.

Culture and human talent

A culture of hard work, productivity and efficiency has always been a hallmark of MAPFRE. We will introduce new policies to nurture talent, leadership and teamwork, and to capitalize on the full potential of our personnel in strategic areas.

Relevant events

MAPFRE, participates in the financial summit Spain Investors Day

MAPFRE, participates in the financial summit Spain Investors Day

January 2018

MAPFRE participates in the VIII edition of the international financial summit Spain Investors Day. The event was held in Madrid and attended by large, listed Spanish companies, important members of the Spanish Government and international investors.

MAPFRE converts its 1 billion euro syndicated credit line

MAPFRE converts its 1 billion euro syndicated credit line

February 2018

MAPFRE has converted its 1 billion euro syndicated credit line into a sustainable loan, thereby becoming the first insurance company in the world to execute a transaction of this nature, strengthening its commitment to sustainability and corporate social responsibility.

More information
MAPFRE and Swiss Life to set up a real estate vehicle

MAPFRE and Swiss Life to set up a real estate vehicle

March 2018

MAPFRE and Swiss Life have agreed to establish a real estate co-investment vehicle that will invest in prime office locations of the main French cities, and will be managed by Swiss Life Asset Managers, Real Estate France.

More information
Standard & Poor’s raises MAPFRE’s rating outlook from stable to positive

Standard & Poor’s raises MAPFRE’s rating outlook from stable to positive

March 2018

The rating agency Standard & Poor’s has raised MAPFRE’s rating outlook from stable to positive, as a result of the expectations for improvements in business in Brazil, Spain and MAPFRE RE.

MAPFRE takes a 25% stake in La Financière Responsable

MAPFRE takes a 25% stake in La Financière Responsable

April 2018

MAPFRE and the French asset management boutique, La Financière Responsable (LFR), have presented in Paris their collaboration agreement, with which MAPFRE takes a 25% stake in LFR, as part of its commitment to a policy of responsible investment.

Agreement with Puy du Fou for a theme park project in Toledo

Agreement with Puy du Fou for a theme park project in Toledo

June 2018

MAPFRE has reached an agreement with the French company Puy du Fou to become a shareholder in the project to build a theme park based on the history of Spain, in the province of Toledo.

Agreement to update the strategic alliance with Banco do Brasil

Agreement to update the strategic alliance with Banco do Brasil

June 2018

MAPFRE and Banco Do Brasil have reached full agreement to update their strategic alliance in the insurance business, which gave rise to BB MAPFRE, incorporated in May 2010, and which over the course of the last eight years has consolidated itself as one of the leading insurance groups in Brazil.

More information
MAPFRE, one of the top ten insurance companies in Europe in 2017

MAPFRE, one of the top ten insurance companies in Europe in 2017

July 2018

MAPFRE is among the 10 main insurance companies in Europe, according to the 2017 edition of the annual ranking prepared by MAPFRE’s Economic Research and published by Fundación MAPFRE.

More information
MAPFRE, included among the most sustainable companies in the world, according to the Dow Jones Sustainability World Index

MAPFRE, included among the most sustainable companies in the world, according to the Dow Jones Sustainability World Index

September 2018

MAPFRE is included among the 15 Spanish companies present on the Dow Jones Sustainability World Index, which monitors the performance of companies focused on sustainability and social responsibility.

More information
MAPFRE signs a strategic agreement with Amazon in Spain

MAPFRE signs a strategic agreement with Amazon in Spain

October 2018

MAPFRE and Amazon signed the first alliance in Spain between an insurance company and the e-commerce multinational. The agreement could be extended to the rest of the international markets where MAPFRE is present.

MAPFRE opens insur_space, an acelerator for insurtech startups

MAPFRE opens insur_space, an acelerator for insurtech startups

November 2018

MAPFRE unveiled insur_space, its new insurtech startup accelerator, which has been created with the aim of developing new solutions to meet the needs of the different types of clients.

More information
MAPFRE strengthens its bancassurance agreement with Bankia

MAPFRE strengthens its bancassurance agreement with Bankia

December 2018

MAPFRE and Bankia have reached an agreement to reorganize their bancassurance alliance. MAPFRE VIDA will acquire 51% of Caja Granada Vida and Caja Murcia Vida y Pensiones, for 110 million euros.

Dividends and Shareholders

MAPFRE continues creating value for its shareholders

The Board of Directors proposed a final dividend for 2018 of 0.085 euros gross per share. With this, the total dividend paid against 2018 earnings reaches 0.145 euros gross per share, which implies a payout ratio of 84.4 percent.

Share Performance

MAPFRE – IBEX 35 – Stoxx Insurance

Share Price evolution: January 1, 2018 – December 31, 2018

* Dividend paid in the 12 months prior
** According to the information released by BME (Spanish Stock Exchange operator)

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