‘We should grow steadily and profitably in the coming years’ – MAPFRE CEO

During the company’s Annual General Meeting, the chairman and CEO of MAPFRE, Antonio Huertas, reviewed the company’s progress throughout 2020 and the measures that the Group implemented in an effort to combat COVID-19. The Group recorded an operating result of 658 million euros, with net earnings of 527 million euros, in 2020.

Outlining the commitments for 2021, a year in which the Group is expecting to produce revenues similar to those of 2020 – with premium growth of around three percent – Mr Huertas noted that MAPFRE projects attributable net earnings of more than 700 million euros for 2021, and to continue creating value for shareholders, with a ROE (return on equity) of around 8.5 percent.  

“In 2020, a year marked by the pandemic, we were able to very successfully meet our objective of rewarding shareholders with an excellent dividend despite the circumstances of the market and supervisory authorities, while maintaining a high solvency margin with adequate control of liquidity in all our operations,” the CEO maintained.

“We have a healthier balance sheet, an excellent solvency position, better-performing technical foundations and operational transformation underway, all of which should enable us to grow steadily and profitably in the coming years,” he continued.

In his address, the chairman and CEO of MAPFRE recalled that the development of the digital business had been strengthened to support profitable growth, as had the commitment to innovation, by, for example, developing on/off insurance solutions, cybersecurity in connected vehicles or developing integrated mobility and safe-driving platforms.

Mr Huertas also addressed equality objectives approved by the Group for 2019–2021, stating that MAPFRE had exceeded the goal of having 45 percent of job positions of responsibility filled by women and having three percent of the global workforce comprised of people with disabilities.

The CEO also referred to the sustainability plan that the Group is developing, through which—in addition to showing its commitment to the environment, the most vulnerable and the SDGs (Sustainable Development Goals)—MAPFRE seeks to continue to be a company in which people and their development are the main focus of action.