(10.2024) 9M 2024 activity presentation
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
Analyst & Investor presentation
9M 2024
October 29th 2024
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 - 9M 2024
Interim dividend increased on the back of strong profitability
PREMIUMS
€21,622 mn
+4.6%
At constant exchange rates
+6.1%
ROE
10.9% +1.9 p.p
12.0% +2.1 p.p
w/o goodwill writedown *
NON-LIFE
COMBINED RATIO
Accumulated
94.8% -2.0 p.p.
Q3 standalone
92.9% -2.8 p.p.
CAPITAL
Shareholders' equity
€8,434 mn
+4.5%
Solvency II Ratio**
196.6%
NET RESULT
€654 mn +38.9%
€744 mn +36.3%
w/o goodwill writedown *
COMMITMENT TO
SHAREHOLDERS
Dividend paid 2024***
15.5 cents per share
Interim dividend
6.5 cents per share
- Without partial goodwill writedowns of
the United States insurance operations (€75 mn) in 2023 and ofVerti Germany (€90 mn) in 2024 ** Data atJune 2024
*** Includes recently approved interim dividend to be paid onNovember 29th
|
Local accounting |
3 |
ACTIVITY UPDATE - 9M 2024
Profitable growth strategy and diversified business model
IBERIA
Profit is up 15.5%
Highly diversified and
improvements in
technical management
Relevant improvement due
to technical measures
Result is up €89 mn
LATAM
Largest contributor
to earnings
Strong financial income and
profitable Life business
€305mn (+7.7%)
MAPFRE RE
€207 mn (+9.3%)
net result
Solid technical performance and
balance sheet
|
Local accounting |
4 |
ACTIVITY UPDATE - 9M 2024
PREMIUMS
TOTAL PREMIUMS
|
€21,622M+4.6% |
+6.1%* |
MAIN LINES OF BUSINESS
|
Million euros / * At constant exchange rates |
Local accounting |
5 |
ACTIVITY UPDATE - 9M 2024
KEY FIGURES AND RATIOS
KEY FIGURES BY REGIONS AND BUSINESS UNITS
|
Premiums |
Net result |
Non-Life Combined ratio |
||||||
|
9M 2024 |
Δ % |
9M 2024 |
Δ % |
9M 2024 |
Δ % |
|||
|
IBERIA |
7,159.4 |
6.2% |
283.4 |
15.5% |
98.4% |
-0.1 p.p |
||
|
|
3,740.9 |
-5.4% |
187.7 |
3.3% |
74.1% |
-3.9 p.p |
||
|
OTHER LATAM |
3,996.6 |
9.1% |
117.8 |
15.7% |
99.0% |
-2.9 p.p |
||
|
TOTAL LATAM |
7,737.5 |
1.6% |
305.5 |
7.7% |
85.5% |
-3.3 p.p |
||
|
|
2,125.7 |
3.0% |
70.6 |
475.3% |
98.5% |
-8.3 p.p |
||
|
EMEA |
1,090.3 |
8.1% |
(18.6) |
40.1% |
113.2% |
-2.6 p.p |
||
|
TOTAL INSURANCE |
||||||||
|
18,113.0 |
3.9% |
640.9 |
33.8% |
94.7% |
-2.7 p.p |
|||
|
REINSURANCE |
4,845.7 |
6.2% |
178.8 |
6.9% |
96.1% |
0.6 p.p |
||
|
GLOBAL RISKS |
1,442.1 |
-4.4% |
28.4 |
27.7% |
88.2% |
-1.3 p.p |
||
|
TOTAL MAPFRE RE |
6,287.8 |
3.5% |
207.2 |
9.3% |
95.5% |
0.5 p.p |
||
|
ASSISTANCE (MAWDY) |
156.5 |
-5.8% |
4.9 |
102.0% |
94.0% |
-4.5 p.p |
||
|
Holding expenses and other |
(2,934.8) |
1.9% |
(199.5) |
0.5% |
-- |
-- |
||
|
TOTAL |
21,622.4 |
4.6% |
653.5 |
38.9% |
94.8% |
-2.0 p.p |
||
|
TOTAL w/o goodwill writedown |
-- |
-- |
743.5 |
36.3% |
-- |
-- |
||
|
ROE (main markets/units) |
|
|
9M 2024 |
|
|
IBERIA |
13.1% |
|
|
24.0% |
|
OTHER LATAM |
12.6% |
|
MAPFRE RE |
11.7% |
COMBINED RATIOS
|
9M 2024 |
Δ % |
|
|
Non-Life Loss ratio |
67.4% |
-2.1 p.p |
|
Non-Life Expense ratio |
27.4% |
0.1 p.p |
|
Non-Life Combined ratio |
94.8% |
-2.0 p.p |
|
General P&C |
81.1% |
-6.0 p.p |
|
Auto |
104.2% |
-1.7 p.p |
|
Accident & Health |
99.8% |
1.8 p.p |
|
Life Protection Combined ratio |
85.4% |
2.6 p.p |
|
Million euros |
Local accounting |
6 |
ACTIVITY UPDATE - 9M 2024
MAPFRE GROUP
IBERIA
|
Premiums |
||
|
9M 2023 9M 2024 |
Δ % |
|
|
6,686 |
6,758 |
1.1% |
|
2,299 |
2,142 |
-6.8% |
|
1,954 |
2,084 |
6.6% |
|
687 |
687 |
0.1% |
|
Attributable result |
|
|
9M 2023 |
9M 2024 |
170.5 306.6
- 116.5
- 120.7
-0.6 37.3
|
Combined ratio |
|
|
9M 2023 |
9M 2024 |
|
87.1% |
81.1% |
|
68.6% |
64.9% |
|
98.1% |
93.4% |
|
111.0% |
85.0% |
Combined Ratio - main regions
IBERIA
|
Million euros |
Local accounting |
7 |
ACTIVITY UPDATE - 9M 2024
MAPFRE GROUP
IBERIA
|
Premiums |
||
|
9M 2023 9M 2024 |
Δ % |
|
|
4,625 |
4,829 |
4.4% |
|
1,757 |
1,860 |
5.9% |
|
1,176 |
1,246 |
5.9% |
|
480 |
444 |
-7.6% |
|
Insured units |
|
|
Units |
Δ % |
|
(mn) |
|
12.97 -6.7%
5.97 -3.2%
1.31 -5.5%
1.25 -0.2%
|
Attributable result |
|
|
9M 2023 |
9M 2024 |
|
-42.3 |
-16.8 |
|
-6.1 |
-30.6 |
|
-24.3 |
27.9 |
|
5.9 |
11.0 |
|
Combined Ratio |
|
|
9M 2023 |
9M 2024 |
|
105.9% |
104.2% |
|
102.9% |
104.7% |
|
107.4% |
100.8% |
|
102.8% |
101.1% |
Combined Ratio - main regions
IBERIA
|
Local accounting |
8 |
|
Million euros |
|
ACTIVITY UPDATE - 9M 2024
Premium growth > Insurance units
Of which:
PROTECTION: 270 (+4.3%)
SAVINGS: 1,770 (+5.9%)
OTHER: Mainly OTHER LATAM AND EMEA (
Million euros
Life technical-financial result
|
9M 2023 |
9M 2024 |
Δ YoY |
|
|
Total MAPFRE Group* |
573.2 |
540.4 |
-5.7% |
|
Total Insurance Units |
557.1 |
515.7 |
-7.4% |
|
of which: |
|||
|
IBERIA |
173.4 |
194.0 |
11.9% |
|
|
302.5 |
246.6 |
-18.5% |
|
OTHER |
81.1 |
75.1 |
-7.4% |
Life attributable result
|
9M 2023 |
9M 2024 |
Δ YoY |
|
|
Total MAPFRE Group* |
235.2 |
233.4 |
-0.8% |
*Includes reinsurance
|
Local accounting |
9 |
Attachments
Disclaimer
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