Order Prints

February 12, 2025 Newswires

(02.2025) Analyst presentation 12M 2024

Spanish Markets via PUBT

Madrid, February 12, 2025

SPANISH SECURITIES AND EXCHANGE COMMISSION (CNMV)

In accordance with article 227 of Law 6/2023, of March 17, on the Securities Market and Investment Services, MAPFRE, S.A. hereby gives notice to the Spanish Securities and Exchange Commission of the following

OTHER RELEVANT INFORMATION

Please find attached the documentation to be presented to investors in upcoming meetings.

José Miguel Alcolea Cantos

General Counsel

Activity Update

12M 2024

Analyst & Investor

Presentation

February 12th 2025

DISCLAIMER

MAPFRE S.A. (MAPFRE) hereby informs that the figures and ratios in this activity presentation, unless stated otherwise, are homogenized local accounting figures obtained from the financial statements prepared by MAPFRE Group companies, presented under the accounting principles in force in each country. For comparison and aggregation purposes, certain adjustments have been applied between units and regions, the most relevant being: the elimination of the goodwill impairment in Spain and the elimination of Nat Cat reserves in some countries in Latin America. In Malta and Portugal, the local accounting applied is IFRS 17 & 9.

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.

MAPFRE S.A. does not undertake to update or revise periodically the content of this document.

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.

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 without the United States insurance operations partial goodwill writedown (€75 mn) in 2023

** as of September 2024	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 March 14th

** 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

NORTH AMERICA

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

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

BRAZIL	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

NORTH AMERICA	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

BRAZIL	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

KEY FIGURES > GENERAL P&C

MAPFRE GROUP

IBERIA

BRAZIL

NORTH AMERICA

	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

BRAZIL

NORTH AMERICA

Million euros	Local accounting	8

ACTIVITY UPDATE - 12M 2024

KEY FIGURES > AUTO

MAPFRE GROUP

IBERIA

BRAZIL

NORTH AMERICA

	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

BRAZIL

NORTH AMERICA

	Local accounting	9
Million euros

Attachments

Disclaimer

Mapfre SA published this content on February 12, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on February 12, 2025 at 08:27:04.840.