Mapfre Sa · BME:MAP
Mapfre Sa — Nomura Spanish Investor Conference 2008
24 slides from Mapfre Sa's conference presentation, Jun 18, 2008
Slide 1: An overview of MAPFRE
An overview of Mr. Esteban Tejera General Manager and Member of the Board Mr. Luigi Lubelli Finance Director Nomura Spanish Investor Conference Tokyo, 18th June 2008 Nº 2008 - 14
Slide 2: MAPFRE at a glance
MAPFRE at a glance MAPFRE is an independent Spanish group which carries out activities in the fields of insurance, reinsurance and services primarily in Spain, Europe and the Americas. It has a direct presence in over 42 countries across various business lines, which has consistently provided increa
Slide 3: Corporate structure in 2008 (expected)
Corporate structure in 2008 (expected) MAPFRE S.A. 100% 100% 100% 100% 91.5% MAPFRE MAPFRE MAPFRE 88.8% MAPFRE MAPFRE MAPFRE OTHER FAMILIAR(1) VIDA EMPRESAS AMÉRICA(1) RE ASISTENCIA BUSINESSES 87.5% MAPFRE INTER- NACIONAL INTERNATIONAL DIRECT INSURANCE DIVISION INSURANCE IN SPAIN INSURANCE ABROAD 1)
Slide 4: Current shareholder structure
Current shareholder structure(1) OTHER INVESTORS 21.6% CAJA MADRID 15.0% FUNDACIÓN MAPFRE 63.4%(2) (1) After the capital increase carried out in May 2008 (2) FUNDACION MAPFRE is a non-profit charitable organisation, whose principal aims are: promoting Safety, and especially Road Safety; supporting r
Slide 5: Geographical breakdown of premiums and results (2007)
Geographical breakdown of premiums and results (2007) Premiums(1) Results(2) Life (Abroad) Life (Abroad) Other businesses/ 1.6% 5.2% Holding 1.1% Reinsurance Reinsurance 11.0% 12.3% Life Non-life (Spain) (Spain) 10.1% Life 43.7% (Spain) Non-life 17.3% Non-life (Spain) (Abroad) 62.3% 13.9% Non-life (
Slide 6: Distribution network
Distribution network MAPFRE NETWORK IN 3,090 SPAIN 2,910 2,861 2,788 2,928 2,725 2,637 BANCASSURANCE(1) 1,906 1,953 1,873 1,884 1,902 1,890 MAPFRE NETWORK IN LATIN AMERICA 1,655 1,284 922 705 542 478 MAPFRE NETWORK IN OTHER COUNTRIES 99 102 128 137 51 2002 2003 2004 2005 2006 2007 1) Branches of ban
Slide 7: Premiums
Premiums CAGR 05-07: +10.4% 12,311 10,933 10,110 8,919 7,632 7,742 7,589 5,797 2000 2001 2002 2003 2004 2005 2006 2007 SPANISH GAAP (1) IFRS (2) (1) Data for SISTEMA MAPFRE Million euros (2) Pro forma figures for MAPFRE S.A. All pro forma figures contained herein have been prepared solely for compar
Slide 8: Profit before tax
Profit before tax CAGR 05-07: +25.2% 1,366 1,156 872 739 606 440 316 244 2000 2001 2002 2003 2004 2005 2006 2007 SPANISH GAAP (1) IFRS (2) Million euros (1) Data for SISTEMA MAPFRE (2) 2005-2006: Consolidated pro forma figures for MAPFRE S.A. An overview of MAPFRE 8 Nº 2008 - 14
Slide 9: Combined ratio
Combined ratio(1) 101.3% 98.4% -3.0p.p 96.2% 95.6% 93.9% 92.6% 92.6% 92.0% 2000 2001 2002 2003 2004 2005 2006 2007 SPANISH GAAP (1) IFRS (2) (1) Data for SISTEMA MAPFRE (2) 2005-2006: Consolidated pro forma figures for MAPFRE S.A. An overview of MAPFRE 9 Nº 2008 - 14
Slide 10: Funds under management
Funds under management +17.6% 24,149 3,155 20,536 19,585 1,493 17,564 1,287 4,038 1,103 3,097 3,777 15,281 927 2,680 12,216 2,374 11,010 679 582 1,969 9,066 2,202 458 16,956 2,178 15,200 15,266 13,781 11,979 9,568 8,226 6,429 2000 2001 2002 2003 2004 2005 2006 2007 SPANISH GAAP (1) IFRS (2) Life ass
Slide 11: Investment portfolio
Investment portfolio Portfolio breakdown Breakdown of the fixed income portfolio Other investments BB or lower BBB 1.2% Real estate 3.2% 0.7% 6.0% Unrated A 1.2% Shares and mutual 11.6% funds (incl. unit- linked) 9.7% AAA 39.4% 2006(1) Fixed income and AA cash 45.8% 81.1% €26,616.7 million €20,169.3
Slide 12: Results as at 1st quarter 2008
Results as at 1st quarter 2008 A solid start to the year Revenues 4,979.1 +24.7% Premiums 4,052.4 +19.6% Funds under management 23,358.4 +14.5% Non-life combined ratio 92.5% -0.5p.p. Million Euros Has resulted in … A net result of €286.3 million Quarterly EPS of (+68.7%) €12.58 cents An overview of
Slide 13: Results have maintained an excellent trend
Results have maintained an excellent trend Attributable result Earnings per share +68.7% 286.3 +68.7% 12.58 71.9 3.16 169.7 +26.3% +26.3% 7.46 214.4 9.42 169.7 7.46 3M 2007 3M 2008 3M 2007 3M 2008 Recurrent Extraordinary Recurrent Extraordinary Million Euros Euro cents An overview of MAPFRE 13 Nº 20
Slide 14: Growing market shares in Spain
Growing market shares in Spain, despite a highly competitive environment(1) Market share evolution Year-on-year market share performance 20.5% MOTOR +1.1% 19.4% 1Q 08 1Q 07 Ranking 17.4% NON-LIFE +1.8% Total Market 13.8% 12.3% 1st 14.5% Life 9.9% 6.6% 2nd 15.6% TOTAL +3.0% Non-life 17.0% 16.8% 1st M
Slide 15: Non-life market share in Latin America and ranking
Non-life market share in Latin America and ranking MAPFRE remains the leading Non-life insurer in the Region 1st 1st 6.2% 2nd 6.1% 3rd 5.7% 4th 5.4% 5.2% ... ... 4.5% ... 4.2% 3.9% 1999 2000 2001 2002 2003 2004 2005 2006 An overview of MAPFRE 15 Nº 2008 - 14
Slide 16: Presence, market shares and rankings in Latin America
Presence, market shares and rankings in Latin America(1) DOMINICAN REPUBLIC 14.4% (3rd)(2) MEXICO 4.4% (4th) PUERTO RICO 12.7% (3rd) EL SALVADOR 13.2% (4th) VENEZUELA 7.7% (5th) COLOMBIA 4.2% (10th) BRAZIL PERU 5.9% (6th) 6.6% (4th) PARAGUAY 13.9% (1st) CHILE 5.3% (5th) URUGUAY 5.3% (4th) ARGENTINA
Slide 17: New markets
New markets USA: THE COMMERCE GROUP No.1 in Motor (31.5% market share) and Homeowner insurance (9.8% market share) in the state of Massachusetts. 2007 gross written premiums: USD1.86 bn. Turkey: GENEL SIGORTA 10th largest insurer overall with a 4.2% market share. 2007 gross written premiums: €229.6
Slide 18: MAPFRE: Strategy
MAPFRE: Strategy Increase the financial results, raise the value of the shares and optimise the use of financial resources. Attain above average growth in those markets where the Group operates in Non- Life insurance, Life assurance and Savings. Enhance the efficiency of the Group and its positionin
Slide 19: Overview of MAPFRE's strategic drivers
Overview of MAPFRE´s strategic drivers SPAIN NORTH AMERICA Cross-selling MAPFRE´s expertise Efficiency Expansion of Commerce Bancassurance Hispanic community TURKEY Local management MAPFRE´s systems Expansion of product range LATIN AMERICA Agency network Bancassurance Selective acquisitions An overv
Slide 20: MAPFRE S.A.: 2008-2010 Objectives
MAPFRE S.A.: 2008- 2010 Objectives MAPFRE S.A.’s objectives for the three-year period 2008 – 2010 are the following: Direct Non-lfe Attain in direct Non-life insurance higher growth rates than those obtained by insurance the market of each country. Life assurance Achieve above market growth rates, b
Slide 21: Dividends per share
Dividends per share(1) 0.13 Var 07/06: +44.4% 0 7: 0.09 0 3- GR % CA 34.3 0.06 0.05 0.04 2003 2004 2005 2006 2007 Euros (1) Dividends paid for the fiscal year (interim dividend + final dividend). Figures adjusted for the 5-for-1 share split carried out on 28th October 2006 An overview of MAPFRE 21 N
Slide 22: Share price (base: 100)
Share price (base: 100) MAPFRE S.A. +108.5% IBEX 35 +103.0% DJ STOXX INSURANCE +26.4% 2003 2004 2005 2006 2007 2008 Note: As at 10th June 2008 An overview of MAPFRE 22 Nº 2008 - 14
Slide 23: Investor Relations Department
Investor Relations Department Luigi Lubelli Finance Director +34-91-581-6071 Jesús Amadori Carrillo +34-91-581-2086 Alberto Fernández-Sanguino +34-91-581-2255 Beatriz Izard Pereda +34-91-581-2061 Antonio Triguero Sánchez +34-91-581-5211 Marisa Godino Alvarez Assistant +34-91-581-2985 MAPFRE S.A. Inv
Slide 24: Disclaimer
Disclaimer This document is purely informative. 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. The information about the plans of the Company, its evolution, its results and its divide