Revenue December 2019
The Group’s consolidated revenue reached 28.5 billion euros, with an increase of 7 percent, mainly due to the rise in premium issuing and greater financial income.
Premiums December 2019
Premiums from direct insurance and accepted reinsurance reached 23 billion euros, with an increase of 2 percent, primarily due to positive development in countries like Spain, Mexico, Peru and the Dominican Republic.
Non-Life premiums grew 3 percent, marked mainly by the effect of issuing the multi-year PEMEX policy in Mexico, which was renewed in June. IBERIA’s contribution to Non-Life business is also noteworthy, increasing over 4%. Life premiums increased by 0.2 percent, of which Life-Protection grew 8 percent, primarily from the positive development of this business in Brazil (+12 percent) and Spain (+10 percent). However, Life-Savings fell 6 percent, primarily from the fall of issuing in Spain and Malta, in a complicated economic environment for the sale of these products.
By Non-Life business type, Auto is the most important line, with over 6.6 billion euros in premiums. General P&C holds second place, with over 6.2 billion euros, and Health and Accident is in third place with over 1.3 billion euros in premiums.
Combined ratio December 2019
The Group’s combined ratio remained stable and stood at 97.6% at the close of December, with remarkable improvements in Brazil, North America and Latam North, thanks to the measures taken to achieve profitable growth. The combined ratio of the insurance units improved 1.3 percentage points and stood at 96.5%.
MAPFRE shareholders received on December 23rd, the dividend paid from the 2019 financial year results. To be specific, shareholders received 0.0606 euros gross per share, after having applied the amount corresponding to treasury stock proportionately to the remaining shares. This dividend was agreed by the Board of Directors in September.
The CFO and Member of the Board of MAPFRE, Fernando Mata, participated in the VIII Edition of the “Empresas que aportan valor al accionista” (“Companies that offer value to the shareholder”) sessions, organized by the journal el Economista. The principles of responsible investment fit perfectly into MAPFRE’s social commitment and are a part of the company’s DNA. As such, investments that combine the assets’ financial returns with their social returns are a focus of the company.
MAPFRE AM, the MAPFRE’s asset management unit, and its French partner, La Financière Responsable (LFR), have launched a new fund that invests in companies that promote the inclusion of people with disabilities. MAPFRE “Inclusión Responsible” has been included in the United Nations Global Compact report as an example of best practices.
MAPFRE launches “PIAS 6M”, a new Life Saving product with unlimited duration and revisable interest. It is a long-term insurance savings product that can be taken out with a single or regular premium, and also makes it possible to make additional contributions at any time.
S&P is raising the ratings on the group’s holding company MAPFRE S.A. and its senior unsecured bonds to ‘A-‘ from ‘BBB+’, along with the issuer credit and insurer financial strength ratings on MAPFRE RE, to ‘A+’ from ‘A’, so it is placed one notch above the rating of the Spanish sovereign bond. S&P’s has also raised MAPFRE’s senior unsecured bonds to ‘A-‘ from ‘BBB+’, as well as its junior subordinated bonds to ‘BBB’ from ‘BBB-‘.
Fernando Mata, CFO and member of the Board of MAPFRE, José Luis Jiménez, Chief Investment Officer, and Natalia Núñez, Investor Relations and Capital Markets Director, met with MAPFRE shareholders in Madrid and Barcelona to talk about the results for the first nine months of the year, as well as macroeconomic forecasts that will affect business.
MAPFRE strengthens its Life-Savings insurance offer with the launch of Valor Activo II, a new Unit Linked product, with a single premium and a duration of 2 years and 2 months, tied to the performance of the Eurostoxx Select Dividend 30 index.
MAPFRE launches Puente Garantizado, a Pension Plan especially designed for clients who do not want to take on any risk with their retirement savings, and who want to invest with the security that their capital is guaranteed at maturity.
MAPFRE AM, MAPFRE’s asset management company, has been listed in the “Avant Gardist” category of the Hirschel and Kramer (H&K) Responsible Investment Brand Index (RIBI), which identifies the European firms in the sector who are most committed to Socially Responsible Investment.
MAPFRE, through its asset-management company, MAPFRE AM, has finalized a strategic alliance with New York-based Boyar Asset Management, to strengthen both its research capabilities and returns in this asset class.