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Αθήνα, 22-02-2017

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Δημοσίευση: Τετάρτη, 16 Νοέμβριος 2016 15:10

MAPFRE reaffirms its 2016-2018 objectives

Nextdeal newsroom

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Antonio Huertas, Chairman and CEO of MAPFRE, indicated that he was convinced the company is on track to meet the financial and strategic objectives assumed for 2016-2018 at the last Annual General Meeting held in March 2016.

 

This is the main message the company's management wished to extend to the more than 80 analysts and financial experts that met today in Madrid, for the first MAPFRE Investor Day. This initiative forms part of the company's focus on transparency, in order to enhance the quality and quantity of the information MAPFRE's different stakeholders receive about the company.

While discussing the progress made in the strategic plan implemented this year, Mr. Huertas affirmed that while the commitments undertaken by the company are indeed ambitious, he is convinced that MAPFRE has the right strategy, resources and human team it needs to meet these objectives.

"Moreover," Mr. Huertas underscored, "we have no doubt that meeting these commitments is the lever we need to place MAPFRE in a solidly competitive position with respect to the digital transformation the sector will see in the coming years."

The 2016-2018 strategic plan focuses on profitable growth and is based on four key pillars: client orientation, digital transformation, excellence in technical and operational management, and culture and human talent.

The plan also incorporates financial targets, such as reaching revenues of 31,000 million euros at the 2018 year end, paying out at least 50 percent of the Group's profits during the period to shareholders, maintaining the average combined ratio below 96 percent and securing an average ROE of at least 11 percent.

Some of the company's top executives participated in the Investor Day. The event was presented by Esteban Tejera, MAPFRE's Vice Chairman, and by Fernando Mata, currently the corporate manager for Strategy and Development, and as from January, the new C.F.O. upon Mr. Tejera's retirement. The two executives spoke of the company's financial position and progress with the strategy.

In addition, José Manuel Inchausti, MAPFRE's CEO for the Iberia territorial area, explained the group's position in Spain and Portugal, while Aristóbulo Bausela, as from January the CEO of LATAM, and Wilson Toneto, MAPFRE CEO in Brazil, did the same for Latin America.

Jaime Tamayo and Alfredo Castelo, who in January will become MAPFRE's CEOs in the International Area and in North America respectively, brought investors up to date on the group's position in their markets. Eduardo Pérez de Lema, CEO of MAPFRE RE, spoke of the group's reinsurance business, while José Luis Jiménez, corporate general manager for Investment, discussed management of the company's assets.

MAPFRE is a global insurance company with a presence across five continents. The benchmark insurer in the Spanish insurance market, it is also the leading multinational insurance group in Latin America and one of the top 10 insurance groups in Europe in terms of premium volume. MAPFRE employs more than 38,000 professionals and services approximately 34 million clients worldwide. In 2015, its revenues exceeded 26.7 billion euros and its net profit amounted to 709 million euros.

   
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