MAPFRE’s attributable earnings for 2021 amounted to 765 million euros, showing an increase of 45.3 percent on the previous year, thanks to solid business results in the Iberia and North America regional areas, where earnings growth exceeded 15 percent in both cases, and the good performance of the reinsurance business and the extraordinary profit (167 million euros) generated by the termination of the alliance with Bankia.
Part of this gain, 104 million euros, has been assigned to shoring up the company’s future profitability, adapting and improving the operational efficiency of its businesses in Spain and Italy, as well as optimizing the Group’s financial structure.
These earnings illustrate the great resilience of the Group, which in 2021 dealt with COVID-related claims totaling more than 460 million euros. A breakdown of this impact by business line is shown in the accompanying table.
The Group’s revenues increased by 7.2 percent in 2021, exceeding 27.3 billion euros, while premiums reached 22.2 billion euros, up 8.2 percent. This increase in premiums comes on the back of a favorable evolution of the business in the Iberia regional area, in Latin America (where practically all countries saw growth) and in the reinsurance business.
MAPFRE‘s investments totaled 46.2 billion euros, of which almost half correspond to sovereign fixed income. The Group’s ROE increases by almost 3 percentage points, reaching 9 percent at the end of 2021.
The impact of COVID-related claims amounts to 460 million euros in 2021, 79 percent of which are in LATAM.
The dividend returns to pre-pandemic levels, with 14.5 cents per share charged against the results for the 2021 financial year.