MAPFRE ANNUAL RESULTS - KEY HIGHLIGHTS OF THE YEAR - 2015 скачать в хорошем качестве

MAPFRE ANNUAL RESULTS - KEY HIGHLIGHTS OF THE YEAR - 2015

MAPFRE’s revenues increased by 4.1 percent in 2015, exceeding 26,700 million euros, while premiums amounted to 22,312 million euros which, excluding CatalunyaCaixa’s contribution, represents a 2.3 percent rise. Net earnings stood at 709 million euros, down 16.1 percent, due to the fall in Non-Life underwriting results (mainly as a consequence of the impact of the snowstorms in the United States), the uptick in claims and a higher tax rate in some countries. During 2015, equity totaled 10,408 million euros, down 9.3 percent, due among other factors to the decrease in the value of the financial investment portfolio and the depreciation of key currencies against the euro. Shareholders’ equity stood at 8,574 million euros, and total assets were 63,489 million euros. At the end of 2015, the combined ratio stood at 98.6 percent, which represents an increase of 2.8 percentage points, of which 1.3 percentage points stem from the extraordinary losses resulting from the snowstorms that hit the United States. “Revenues and premiums continue to grow, reflecting customers’ trust in MAPFRE; but we have to take further steps to improve our efficiency and profitability”, stated Antonio Huertas, MAPFRE’s Chairman and CEO. The company has recently approved its strategic plan for the 2016-2018 period, which focuses on profitable growth and has customer orientation, digital transformation, excellence in technical management, strengthening of the internal culture and human talent development as its main axes. MAPFRE’s Chairman and CEO also reviewed the 2013-2015 strategic plan, which has been largely achieved, and underscored that during that period the Group paid its shareholders 1,232 million euros in dividends, exceeding 12 percent annually considering the dividend received and the average increase in the share price. Additionally, Antonio Huertas reaffirmed MAPFRE’s commitment to the Group’s key strategic objectives for 2016, which focus in the main on achieving a combined ratio below 96 percent, an expense ratio of 28 percent and maintaining a pay-out of over 50 percent. Moreover, MAPFRE has made headway in its digital strategy, with the international launch of the VERTI brand for this business as of 2017. Germany and Italy will be the first countries where this brand will be deployed. At present, digital business represents 4 percent of MAPFRE’s total. Along the same line, MAPFRE has reached an agreement with the British company Admiral on the creation of a 50/50 joint venture called Preminen, which will offer online services for comparing insurance rates in several countries, such as that offered in Spain under the Rastreator.com brand.