(02.2025) Analyst presentation 12M 2024
SPANISH SECURITIES AND EXCHANGE COMMISSION (CNMV)
In accordance with article 227 of Law 6/2023, of
OTHER RELEVANT INFORMATION
Please find attached the documentation to be presented to investors in upcoming meetings.
General Counsel
Activity Update
12M 2024
Analyst & Investor
Presentation
February 12th 2025
DISCLAIMER
This document is for information purposes only and its aim is to show the development of the most relevant business indicators of MAPFRE's units in the period. Its content does not constitute, nor can it be interpreted as, an offer or an invitation to sell,
exchange or buy, and it is not binding on the issuer in any way.
Certain numerical figures included in the presentation have been rounded. Therefore, discrepancies in tables between totals and the sums of the amounts listed may occur due to such rounding.
2
ACTIVITY UPDATE - 12M 2024
Record result thanks to the successful implementation of the Strategic Plan
|
NON-LIFE |
|||||||||||
|
PREMIUMS |
|||||||||||
|
NET RESULT |
|||||||||||
|
COMBINED RATIO |
|||||||||||
|
€ |
|||||||||||
|
€902 mn +30.3% |
|||||||||||
|
28,122 mn |
Accumulated |
||||||||||
|
+4.5% |
94.4% -2.8 p.p. |
||||||||||
|
€992 mn +29.3% |
|||||||||||
|
Q4 standalone |
|||||||||||
|
At constant exchange rates |
|||||||||||
|
+6.6% |
93.4% |
w/o goodwill writedown* |
|||||||||
|
ROE |
|||||||
|
CAPITAL |
|||||||
|
Shareholders' equity |
|||||||
|
10.9% +1.9 p.p. |
€8,508 mn |
||||||
|
+5.4% |
|||||||
|
Solvency II Ratio** |
|||||||
|
12.0% +2.0 p.p |
202.4% |
||||||
|
w/o goodwill writedown * |
|||||||
- Without the impact on results from the partial goodwill writedownof
Verti Germany (€90 mn) in 2024, and for comparison purposes withoutthe United States insurance operations partial goodwill writedown (€75 mn) in 2023
|
** as of |
Local accounting |
3 |
ACTIVITY UPDATE - 12M 2024
Record dividend is proof of our commitment to shareholders
2024 final
dividend
9.5 cents per share
Dividends against
2024 results*
€493 mn
16 cents per share
Payout
≈55%*
Dividend
yield
≈6.9%**
*Total dividends against 2024 fiscal year includes the interim dividend of €0.065 paid in November and a final dividend of €0.095 proposed by the Board of Directors to be approved at the AGM on
|
** Based on 2024 dividends paid and average share price |
|
|
Local accounting |
4 |
ACTIVITY UPDATE - 12M 2024
Technical excellence with strong improvements in main businesses
IBERIA
Highly diversified
Improvements in
technical
management
|
RESULT |
€367 mn |
|
+6 mn yoy |
|
|
NET |
|
|
+52 mn yoy, excluding 2023 Bankia |
|
impacts
LATAM
Largest contributor
to earnings and
premiums
Strong financial
income and profitable
Life business
€408 mn
+34 mn yoy
Relevant
improvement due to technical measures
€98 mn
+99 mn yoy
MAPFRE RE
Solid technical
performance and
balance sheet
Absence of large
catastrophic events
€325 mn
+81 mn yoy
|
Local accounting |
5 |
ACTIVITY UPDATE - 12M 2024
PREMIUMS
TOTAL PREMIUMS
€28,122 mn+4.5%+6.6%*
MAIN LINES OF BUSINESS
|
Local accounting |
6 |
|
Million euros / * At constant exchange rates |
|
ACTIVITY UPDATE - 12M 2024
KEY FIGURES AND RATIOS
KEY FIGURES BY REGIONS AND BUSINESS UNITS
|
Premiums |
Net result |
Non-Life Combined ratio |
||||
|
12M 2024 |
Δ % |
12M 2024 |
Δ % |
12M 2024 |
Δ % |
|
|
IBERIA |
9,097.5 |
3.0% |
366.9 |
1.6% |
98.9% |
-0.9 p.p |
|
|
4,800.5 |
-6.5% |
255.1 |
9.5% |
72.8% |
-5.9 p.p |
|
OTHER LATAM |
5,164.5 |
10.5% |
152.7 |
8.7% |
98.8% |
-3.0 p.p |
|
TOTAL LATAM |
9,965.0 |
1.6% |
407.8 |
9.2% |
84.8% |
-4.1 p.p |
|
|
2,768.9 |
3.2% |
97.6 |
-- |
98.7% |
-6.7 p.p |
|
EMEA |
1,524.6 |
18.1% |
(30.3) |
34.8% |
113.9% |
-2.6 p.p |
|
TOTAL INSURANCE |
23,356.0 |
3.3% |
842.0 |
22.7% |
94.9% |
-3.0 p.p |
|
REINSURANCE |
6,562.5 |
7.3% |
285.6 |
32.6% |
94.0% |
-2.0 p.p |
|
GLOBAL RISKS |
1,819.3 |
4.5% |
39.7 |
35.9% |
87.8% |
-2.7 p.p |
|
TOTAL MAPFRE RE |
8,381.8 |
6.7% |
325.3 |
33.0% |
93.6% |
-2.0 p.p |
|
ASSISTANCE (MAWDY) |
209.0 |
-2.2% |
4.7 |
-13.3% |
94.4% |
-3.5 p.p |
|
Holding expenses and other |
(3,825.1) |
-1.6% |
(270.3) |
-10.6% |
-- |
-- |
|
TOTAL |
28,121.7 |
4.5% |
901.6 |
30.3% |
94.4% |
-2.8 p.p |
|
TOTAL w/o goodwill writedown |
-- |
-- |
991.6 |
29.3% |
-- |
-- |
|
ROE (main markets/units) |
|||
|
12M 2024 |
|||
|
|
25.9% |
||
|
TOTAL LATAM |
17.9% |
||
|
MAPFRE RE |
14.0% |
||
|
IBERIA |
11.4% |
||
|
COMBINED RATIOS |
|||
|
12M 2024 |
Δ % |
||
|
Non-Life Loss ratio |
67.4% |
-2.2 p.p |
|
|
Non-Life Expense ratio |
27.1% |
-0.6 p.p |
|
|
Non-Life Combined ratio |
94.4% |
-2.8 p.p |
|
|
General P&C |
80.9% |
-6.7 p.p |
|
|
Auto |
104.6% |
-1.4 p.p |
|
|
Accident & Health |
98.6% |
-0.3 p.p |
|
|
Life Protection Combined ratio |
85.5% |
2.9 p.p |
|
|
Local accounting |
7 |
|
|
Million euros |
||
ACTIVITY UPDATE - 12M 2024
MAPFRE GROUP
IBERIA
|
Premiums |
||
|
12M 2023 12M 2024 |
Δ % |
|
|
8,491 |
8,617 |
1.5% |
|
2,549 |
2,722 |
6.8% |
|
2,929 |
2,752 |
-6.1% |
|
880 |
870 |
-1.2% |
|
Attributable result |
|
|
12M 2023 |
12M 2024 |
216.6 403.7
50.2 146.9
134.0 162.9
|
17.6 |
50.3 |
|
Combined ratio |
|
|
12M 2023 |
12M 2024 |
|
87.6% |
80.9% |
|
100.0% |
94.5% |
|
69.8% |
63.2% |
|
100.8% |
84.3% |
Combined Ratio - main regions
IBERIA
|
Million euros |
Local accounting |
8 |
ACTIVITY UPDATE - 12M 2024
MAPFRE GROUP
IBERIA
|
Premiums |
||
|
12M 2023 12M 2024 |
Δ % |
|
|
6,109 |
6,484 |
6.1% |
|
2,388 |
2,538 |
6.3% |
|
628 |
573 |
-8.9% |
|
1,542 |
1,642 |
6.5% |
|
Insured units |
|
|
Units |
Δ % |
|
(mn) |
|
12.91 -4.6%
5.93 -3.0%
1.23 0.7%
1.28 -5.3%
|
Attributable result |
|
|
12M 2023 12M 2024 |
|
|
-67.6 |
-26.1 |
|
-17.9 |
-43.6 |
10.0 14.4
-28.6 39.5
|
Combined Ratio |
|
|
12M 2023 |
12M 2024 |
|
106.0% |
104.6% |
|
103.6% |
105.4% |
|
102.5% |
101.2% |
|
107.1% |
101.2% |
Combined Ratio - main regions
IBERIA
|
Local accounting |
9 |
|
|
Million euros |
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Attachments
Disclaimer
Did prices jump in January? Inflation report will provide latest update on consumer costs
(02.2025) Activity report 12M 2024
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