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October 29, 2024 Newswires No comments

(10.2024) 9M 2024 activity presentation

Spanish Markets via PUBT

Madrid, October 29, 2024

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. (MAPFRE) 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

Analyst & Investor presentation

9M 2024

October 29th 2024

DISCLAIMER

MAPFRE S.A. hereby informs that the figures and ratios in this activity report are presented under the accounting principles in force in each country, homogenized for comparison and aggregation between units and regions. As such, certain adjustments have been applied, the most relevant of which are the following: the elimination of the goodwill amortization in Spain and the elimination of catastrophic reserves in some Latin American countries. In Malta and Portugal, the applicable local accounting is IFRS 17 & 9. MAPFRE Group presents its financial statements under the international accounting standards in force (IFRS 9 and 17) applicable to listed companies on a half-year basis.

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 - 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 of Verti Germany (€90 mn) in 2024 ** Data at June 2024
*** Includes recently approved interim dividend to be paid on November 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

NORTH AMERICA

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
BRAZIL	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

NORTH AMERICA	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%
BRAZIL	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

KEY FIGURES > GENERAL P&C

MAPFRE GROUP

BRAZIL

IBERIA

NORTH AMERICA

	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

BRAZIL

IBERIA

NORTH AMERICA

Million euros	Local accounting	7

ACTIVITY UPDATE - 9M 2024

KEY FIGURES > AUTO

MAPFRE GROUP

IBERIA

NORTH AMERICA

BRAZIL

	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

NORTH AMERICA

BRAZIL

Local accounting	8
Million euros

ACTIVITY UPDATE - 9M 2024

KEY FIGURES > LIFE BUSINESS

Premium growth > Insurance units

Of which:

PROTECTION: 270 (+4.3%)

SAVINGS: 1,770 (+5.9%)

OTHER: Mainly OTHER LATAM AND EMEA (Malta)

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%
BRAZIL	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

Mapfre SA published this content on October 29, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on October 29, 2024 at 07:33:46.120.