MAPFRE’s total assets fall 5% as stock market falls and currency depreciation hit

Written by Adam Cadle

02/11/2020

MAPFRE’s total assets have fallen 5% from the close of 2019 and now stand at €68.8bn due to stock market falls, currency depreciation and reduced activity.

In its latest financial update for the first nine months of the year, MAPFRE said group investments amounted to €51.6bn, 3.6% lower than in December of last year. Of these investments, 56% or €28.9bn pertains to sovereign fixed income, while 18.5% or €9.5bn is in corporate fixed income and 5% or €2.5bn is in equities.

The Solvency II ratio stood at 184% in June 2020, with 86% Tier 1 (highest quality) capital, highlighting the group’s stability and resilience, as well as its continued management capacity. This is an improvement of 6.6 percentage points compared to March, resulting from a prudent balance sheet approach and active investment management in a more favourable environment.

Insurance business earnings have grown more than 7% and MAPFRE will pay an interim dividend of €0.05 per share in cash, making for a total dividend payment of €416m in 2020.

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