IN 2009, MAPFRE INCREASED ITS ATTRIBUTABLE RESULT,TO 926.8 MILLION EUROS
CONSOLIDATED REVENUES EXCEEDED 18.8 BILLION EUROS,A 6.3% RISE OVER 2008
WILL ALLOCATE 434.3 MILLION EUROS TO DIVIDENDS, A 6.7% RISE OVER 2008
. The Life, Homeowners and Health insurance lines in Spain as well as the international business drive the Group's growth
. Maintains its clear leading position in the Spanish market and in Non-Life insurance lines in Latin America
. Premiums have increased 9.1%, to 15,606.8 million euros
. The International business contributes 51% of premiums and 34% of results
. Equity has increased 24.1% to 7,093.8 million euros, while net debt decreased by 980 million euros
. Agreements have been signed with Banco do Brasil, Grupo Mundial (Panama) and Finibanco Vida (Portugal), which will enhance international growth
1.-Business development and results:
Revenues (18,830 million euros) are 6.3% higher than those of the previous year. Insurance and Reinsurance premiums amounted to 15,606.8 million euros, an increase of
In Spain, total premiums from Direct Insurance and Accepted Reinsurance amounted to 8,144 million euros. Despite the difficult environment and the increasing competition, MAPFRE still maintains the leading position in the principle business lines in which it operates:
. Premiums at MAPFRE FAMILIAR have exceeded 4,071 million euros, a 3.4% decrease. It is worth mentioning the growth of the Personal line, which reflects the notable performance in sales of Health insurance (9.1%).
. Premiums from Commercial Insurance have decreased 6.7% to 1,505 million euros.
. Premiums at MAPFRE AMÉRICA have exceeded 4,305 million euros, an increase of 19.3% versus 2008, with noteworthy growth in Brazil, Venezuela and Argentina. In Latin America, MAPFRE has strengthened its leading position in Non-life insurance for the fourth consecutive year, with a 6.9% market share, and has
Premiums at MAPFRE INTERNACIONAL (USA, Portugal, Turkey and the Philippines) amounted to 1,640.9 million euros, a 46.6% rise.
. Accepted premiums at MAPFRE RE have exceeded 2,053 million euros, a 15.5% increase, consolidating the company¿s position among the top 20 reinsurance groups in the World.
. The revenues (premiums and income from the sale of services) of the Assistance business have grown 13.6% to 483.8 million euros.
At the end of 2009, the total assets managed by the Group approached 43,106 million euros, a 3.4% increase versus 2008; and total assets under management exceeded 49,573 million euros, a 3.8% increase.
The 2009 net attributable result was 926.8 million euros, a figure 2.9% higher than the previous year.
MAPFRE, with presence in 43 countries at the end of 2009, has 35,225 employees and more than 67,854 agents and brokers. The Group, which has one of the largest networks in Spain and Latin America, has 5,806 own branches in the world (3,278 branches in Spain and 2,528 abroad). Furthermore, MAPFRE has signed 1,201 distribution agreements that complement its commercial distribution capacity.
The Board of Directors will propose the General Meeting to pay a final dividend of 0.08 euros gross per share, so that the total amount allocated to dividends will amount to 434.3 million euros.
3.- 2010 Structure
During 2009, MAPFRE has reorganised the commercial insurance operating unit, which is now comprised by two specialised companies: MAPFRE EMPRESAS, which will underwrite risks and provide services in the Spanish market; and MAPFRE GLOBAL RISKS, which will be included in the Group¿s International Direct Insurance Division and will compete worldwide in the coverage of International insurance programmes for multinational customers and other sectors considered to be global (Aviation, Energy and Marine), in coordination with the insurance subsidiaries that