1 2 KEYS TO THE FIRST QUARTER
IMPACT OF FOCUS ON PROFITABLE FINANCIAL CONVERSION GROWTH STRENGTH DIFFERENCES
NOTABLE ESPAÑA MAPFRE RE Dollar –13% IMPROVEMENTS
Real –16% Net Net Mexico Solvency Italy earnings earnings Germany Lira –16% Argentina Ratio -7.7% +22% Chile All currencies are down against the euro Excluding 2017 extraordinary items RECOVERY 200% Life Savings affected by PENDING prolonged low interest +17% Brazil rate environment U.S.A. 3 DEPRECIATION OF CURRENCIES
Var. MARCH 2018 vs. MARCH 2017 U.S. dollar -13.2% Brazilian real -16.3% Turkish lira -16.1% Mexican peso -6.2% Colombian peso -10.7% Chilean peso -5.8% Peruvian sol -12.5% Argentine peso -31.9% Panamanian balboa -13.2% Dominican peso -17.1% Honduran lempira -13.3% Indonesian rupiah -14.7% 4 THE FIGURES AT A GLANCE
ATTRIBUTABLE EARNINGS NON-LIFE COMBINED RATIO +4% w/o M extraordinary 187 items -9.3% 96.5% - 1 p.p PREMIUMS 6.2BN -0.4% at -7.2% constant exchange rates ROE
CONSOLIDATED REVENUE 9% w/o cat. 7.3BN -7.6%
Figures in euros 5 CONSOLIDATED REVENUE
CONSOLIDATED REVENUE 7.3BN -7.6% 4.9BN
1.2BN 625M 435M
-4.8% -15.5% -21% +12%
NON-LIFE LIFE FINANCIAL OTHER PREMIUMS PREMIUMS INCOME +2.2% -9.6%
GROWTH AT CONSTANT EXCHANGE RATES
Figures in euros 6 EARNINGS BREAKDOWN
NET EARNINGS €187M -9.3% +4% excluding extraordinary items
280M 187M 130M
-40M -103M -81M
+10.7% -42.3% -34.7% -20.6% - 28.8% NON-LIFE LIFE OTHER TAXES NON- NET EARNINGS CONCEPTS* CONTROLLING INTERESTS
Figures in euros Includes other activities, Holding expenses and adjustments for hyperinflation 7 PREMIUMS/EARNINGS BY GEOGRAPHIC AREA
PREMIUMS NET EARNINGS INSURANCE 156M 5.2BN -7% LATAM NORTH RE +114% 1.1BN IBERIA 118M -3% 63M
LATAM 38M 8M INTERNATIONAL 0.1M -3M ASISTENCIA GLOBAL RISKS -21% +22% - +70% 227M 267M INSURANCE RE GLOBAL ASISTENCIA -18% -16% RISKS
Figures in euros Data do not include consolidation adjustments. 8 BREAKDOWN BY COUNTRY/UNIT
GROUP ROE 9% w/o cat.
13% 12.6% 12.4% 9.3% 5.2% 5.1% 3.8%
RE LATAM SPAIN BRAZIL EURASIA LATAM U.S.A. SOUTH NORTH 9 REGIONAL COMBINED RATIOS
GROUP COMBINED RATIO +96.5%
1.7 p.p.
90.3% Auto 106.2% 104.9%
96.6% 97% 98.3% 91.1% 92.1%
MAPFRE IBERIA LATAM LATAM BRAZIL EURASIA NORTH RE NORTH SOUTH AMERICA 0.3 p.p. 2.5 p.p. 2.5 p.p. 2.2 p.p. 0.2 p.p. 4.2 p.p. 4.8 p.p. 10 INSURANCE BUSINESS PREMIUMS REGIONAL BREAKDOWN
SPAIN: THE GROWTH ENGINE IBERIA -2% 2.3BN IN PREMIUMS 619M 581M 2.3BN 537M 534M
+6%+6% +6%+6% -+3%+3%19% --+3%19%19%
32M GENERAL HEALTH AND LIFE AUTO P&C ACCIDENT -2% -22% NON-LIFE premiums are up 4.9% SPAIN PORTUGAL (market: 3.9%)
Figures in euros 11 BUSINESS PREMIUMS REGIONAL BREAKDOWN – LATIN AMERICA
LATAM NORTH 1.8BN IN PREMIUMS -11% 211M 154M
% % BRAZIL +5 -7 -16% LATAM MEXICO CENTRAL AMERICA NORTH 0% 1BN LATAM SOUTH 365M
395M 124M 87M 74M 53M
LATAM % % % % SOUTH +5 -10 -17 -15 -8% PERU COLOMBIA ARGENTINA CHILE
Figures in euros 12 BUSINESS PREMIUMS REGIONAL BREAKDOWN – INTERNATIONAL
1.1BN IN PREMIUMS -11%
562M 541M 486M -15% 151M 146M 115M M -14% -8% % % % 103 76M -23 +3 -1 % -10 -10%
NORTH EURASIA U.S.A. TURKEY GERMANY ITALY MALTA PUERTO AMERICA RICO
Figures in euros 13 SHAREHOLDERS’ EQUITY
8.47BN to March 2018 -145M -1.7%
8.61BN 187M -262M -121M +51M 8.47BN
BALANCE RESULT FOR CONVERSION BALANCE DIVIDENDS OTHER 01/01/2018 THE PERIOD DIFFERENCES 03/31/2018
Figures in euros 14 GROUP OVERVIEW
TOTAL ASSETS INVESTMENTS & CASH
50.6BN 67.6BN 69.3BN
+2.5%
84% FIXED INCOME AND OTHER DECEMBER MARCH 2017 2018 4% CASH 4% REAL ESTATE MANAGED SAVINGS* 8% VARIABLE INCOME AND FUNDS Life technical provisions 29.2BN -0.3% Pension funds 5BN +4.8% €28.2BN in sovereign debt Mutual funds and other 5.2BN +1.6% €16.7BN in Spanish sovereign debt
Figures in euros March 2017 vs. March 2018 15 STRUCTURE AND SOLVENCY
CAPITAL SOLVENCY STRUCTURE
* €12.8BN SOLVENCY II RATIO 200% EQUITY 81%
SENIOR DEBT 8% Tier 1 €8.3BN (93%)
SUBORDINATED DEBT 5%
ESG DEBT** 6% Tier 2 €599M (7%)
COVERAGE RATIO 18.9% *12/31/2017
**Environmental, Social and Governance. 16 DIVIDEND PAYMENT
FINAL . The AGM approved payment of a final DIVIDEND dividend of 8.5 euro cents gross per share.
AGAINST 2017 . The Board of Directors agreed to make the RESULTS payment on June 14 next.
Total dividend for 2017 €2.5BN €447M in shareholder remuneration, completely in cash, PAYOUT OF 64% over the last 5 years 17 CONCLUSIONS
Confidence Temporary We need to start in generating volatile seeing recovery results interest rate in Brazil and the situation U.S.A.