All public commitments announced by MAPFRE are maintained, including reaching net zero emissions globally by 2050, or sooner if possible, as we try to accelerate compliance with the objectives established in our Sustainability Plan.

La entrada MAPFRE decides to continue developing its sustainability strategy outside of the Net-Zero Insurance Alliance (NZIA) aparece primero en Noticias Mapfre.

 The solvency position remains within the target range.

MAPFRE has informed the General Directorate for Insurance and Pension Funds of the quarterly recalculation of its solvency position, following the Insurance Supervisor’s recommendations based on best practices for Internationally Active Insurance Groups. The current and previous quarters’ figures are detailed below for comparison purposes:

MAPFRE Group Solvency II ratio stands at 198.1 percent at March 2023, including transitional measures. This ratio would be 189.5 percent excluding the effect of these measures, compared to 191.4 percent at the close of 2022.

Eligible own funds reached over 9.3 billion euros at that date, of which 83 percent are of high quality (Tier 1).

The ratio remains highly stable and solid, backed by high diversification and strict investment and ALM policies.

The solvency position remains within the tolerance range established by the Group (target solvency ratio of 200 percent with a 25-percentage point tolerance range).

La entrada MAPFRE’s solvency ratio stands at 198.1 percent at the end of the first quarter of the year aparece primero en Noticias Mapfre.

• Revenue is up 21% and stands at over €9.1 billion
• The net result reached €128 million (-17%) due to the impact of the earthquake in Turkey, with an estimated net cost of €77 million, as well as the complex Auto environment.
• IBERIA grew above the market, both in Non-Life and Life, with 31% premium growth, supported by the Life Savings business, and continues to be the region with the highest volume in the Group.
• LATAM, where net results took off to €94 million, is the main contributor to earnings.
• Improved Life result (+95%) and Non-Life financial result (+20%), in a better market context.
• The reinsurance unit grew 7% and global risks 11%.
• MAPFRE will pay the final dividend against 2022 results on May 24th.

*DISCLAIMER: MAPFRE S.A. (MAPFRE) hereby informs that the figures in this activity update report are presented under the accounting principles in force in each country, homogenized for comparison and aggregation purposes. These figures should not be considered to be an indication of the future financial information for the first half of 2023 which will be presented in accordance with the International Financial Reporting Standards (IFRS) and within the legally stipulated calendar. Greater detail and additional information are available in the Annex herein.

• The over 20% increase in revenue consolidated the trends from recent quarters and reflects both a relevant increase in business volume as well as an improvement in financial income.
• Premiums grew 19%, with no relevant impact from exchange rates (at constant rates, premiums are up 18%). This growth reflects a general improvement in business, with a 10.3% increase in Non-Life and a 59.5% increase in Life, mainly due to performance in Spain and Brazil.
• Regarding Non-Life, premiums are up over €550 million in the first quarter, with 12.6% in Accident & Health, 10.6% growth in General P&C and 7.1% in Auto. The combined ratio stands at 98.5% (+0.4 p.p.) and the volatility and dispersion from previous quarters marked by the economic scenario remain. General P&C, with a combined ratio of 87.3% (-5.3 p.p.), has compensated the high loss experience that persists in the Auto business, with a combined ratio of 106.3% (+2.5 p.p.). Tariff increases and improved management carried out in the latter line in order to compensate inflation will gradually translate into improvements in the combined ratio. Accident & Health shows a slight improvement in the combined ratio compared to the first quarter of the previous year, reaching 101.8% (-0.4 p.p.). The Non-Life financial result has reached €150 million, increasing 20%.
• In the Life business, premiums are up almost €700 million, driven by the Life Savings business in Spain. The result for this line has benefitted from both good technical performance as well as strong financial income, especially in Latin America. The Life Protection combined ratio stands at 81.6% (-1.3 p.p.). All these factors led to a 95% improvement in the Life net result compared to the previous year.
• The earthquake in Turkey was the main relevant Nat cat event impacting results, and the estimates, which are still subject to a full damage assessment, have a net impact of approximately €77 million, mainly affecting MAPFRE RE (€72 million) and, to a lesser extent, the local insurance company (€5 million). In 2022, the most relevant cat claim for the company was the drought in Brazil, with a €37-million net impact for the Group in the first quarter.
• Regarding our investment portfolio, there was no relevant change in the asset class structure during the quarter, nor were there any relevant impacts on the result or investment valuations as a consequence of the situation with certain financial institutions in the United States and Switzerland. MAPFRE realized €17 million in gains in the quarter, after taxes and minorities (21 million in 2022).
• Regarding the available-for-sale portfolio, €259 million in unrealized gains, net of taxes, have been recorded in 2023, improving the capital position of the subsidiaries. The main variations came from IBERIA, with a €92-million increase, followed by MAPFRE RE with €57 million, and NORTH AMERICA with €53 million.
• Finally, there were no relevant changes in currency conversion differences in the quarter.

IBERIA is growing above the market both in Life and Non-Life 

• Premiums in Iberia reached over €3.3 billion (+31%), with Spain standing out with nearly 3.3 billion (+30%). Premiums in Portugal reached 74 million (+59%).
• The Life business volume is 2.4 times higher than the previous year, reaching almost €1.1 billion, of which 965 million correspond to Life Savings (326 million in 2022).
• Non-Life premiums grew 7.3% and reflect the positive development of the Accident & Health business (+9%), General P&C (+7.1%), and Auto (+4.9%).
• In Auto, tariffs continue to be gradually adapted to the inflationary context and based on individual risk profiles. The fleet reached 6,189,213 insured vehicles, with a slight reduction in the fleet in the first quarter related to risk-selection measures, which led to a more than 5% increase in the average premium.
• The Non-Life result and combined ratio have been affected by the Auto business, with the combined ratio at 106.5% (+6.8 p.p.). This line is affected by the recovery of mobility to pre-pandemic levels; the high inflation scenario and the Baremo update. The improvement in the combined ratio expected during the year will be based on strict cost control, while tariffs on average are expected to increase significantly more than that.
• General P&C lines and the Life Protection business continue contributing positively to results, with combined ratios of 92.4% and 73.2%, respectively.
• The financial result continues to improve in a more favorable environment, with a €37.2 million gross contribution to the Non-Life result (€30 million in 2022).
• The net result reached €67.3 million, of which Spain contributed 64 million and Portugal 3.3 million. Of this amount, 11 million corresponds to realized gains (14 million in 2022). 

Business in LATAM consolidates the strong trends of recent quarters with close to €2.4 billion in premiums and a result of 94 million, the largest contributor to Group earnings. 

Brazil shows strong growth, and its result increased four-fold thanks to improvements in both the technical and financial result 

• In Brazil, premiums reached almost €1.2 billion, up 22%, backed by the favorable development of the Brazilian real, which appreciated 3%. In local currency, premium growth reached 18%. The improvement in written premiums is due, above all, to the positive development of the Agro Insurance and Life Protection business, which grew in euros 44% and 28.5%, respectively.
• The Auto business grew 8%. This line continues to quickly adapt tariffs to inflation. The fleet reached 1,294,740 insured vehicles, with a slight reduction in the quarter related to risk-selection measures.
• The combined ratio dropped significantly to 81.6%, due in part to a 15 percentage point improvement in the Auto line after tariff increases. The combined ratio in Auto stands at 106.6% (-14.8 p.p.). Additionally, the Agro business improved its positive development thanks to a benign quarter after the losses in 2022 from the drought, and the General P&C ratio stands at an excellent 72%. The Life Protection business also has a solid combined ratio, standing at 77.8%.
• The financial result also continues to contribute very positively, with a €23.4-million gross contribution to Non-Life (€19.8 million in 2022).

The result improves in the rest of LATAM, consolidating trends from the previous year

• In LATAM SOUTH CENTRAL, premiums grew 12.1%, while the net result stands at €28 million, with relevant contributions from operations in Colombia and Peru. Written premiums in local currency grew in all countries in the region, with noteworthy growth in Colombia (27%), Chile (14%), Panama (25%) and the Dominican Republic (10%).
• The combined ratio in LATAM SOUTH CENTRAL rose to 102.1% due to the situation in the General P&C line in Chile and Peru.
• In Peru, premiums reached €181 million, up 2.5%, while the net result reached €7.9 million. The combined ratio rose to 104.4% in the quarter, both as a result of the weather-related impacts of the coastal El Niño, as well as from political instability.
• In Mexico, premiums reached €333 million, up by 1.3%, supported by the favorable performance of the Mexican peso, which appreciated 14.6%, while the net result reached €12 million. The combined ratio rose by more than 2 percentage points to 94.9%, mainly due to the Accident & Health business.
• Both the Life Protection business and financial income continue to improve, contributing very positively to the result.

North America business volume increases, with relevant improvements in the Auto combined ratio compared to the previous quarter

• In the North America Regional Area, premiums reached €584 million at March, growing 8.1% in euros and 4.1% in dollars. The largest contributor was the United States with €526 million and 8% growth. Puerto Rico recorded an 8.5% increase, reaching €58 million in premiums.
• The Auto business grew 8.1%. The fleet reached 1,414,304 insured vehicles, with a slight reduction in 2023.
• The Non-Life combined ratio stands at 107.7%, affected by weather-related events (Arctic Freeze) in the United States which caused higher losses in the Homeowners line, with a net cost of €13 million. As of May, tariffs in this line will increase around 15% on average to compensate the rate increase for catastrophic reinsurance coverage.
• The Auto combined ratio stands at 105%, a significant improvement compared to the fourth quarter of 2022 (118%), supported by already implemented tariff increases. Auto rates will go up an additional 6.5% starting in May.
• All of the above has led the region to post losses of €9.3 million. 

EMEA

• In EMEA, premiums reached €437 million, representing 7.7% growth, and reflecting currency and inflation impacts in Turkey. The region recorded losses of €17.8 million, primarily related to the earthquake (5 million net impact), as well as the concentration of large loss claims in the Auto line in Italy.

MAPFRE RE continues growing and contributing to Group earnings

• MAPFRE RE premiums, which include reinsurance and global risks business, grew 8%, reaching over €2.0 billion. On a risk-adjusted basis, the catastrophic business rates are growing above 20%.
• The reinsurance business grew 6.7% while the global risks business advanced more than 11%.
• The estimated cost for the earthquake in Turkey for MAPFRE RE amounts to €102 million, with a net impact for the Group of 72 million.
• The financial result also grew, with a €21.2-million gross contribution to the Non-Life result (9.4 million in 2022). In 2023, net gains of €4.4 million were realized (-0.2 million in 2022).
• The net result reached €33.4 million, and the combined ratio went up to 98.8%. 

ASISTENCIA enters a new phase, with a focus on more digital activity and geographic reorientation

• In 2023, MAPFRE ASISTENCIA has entered a new phase, with the launch of the new brand, MAWDY, present in 23 countries and focused on strategic markets for the group, mainly Europe and Latin America. 

ANNEX

IMPORTANT INFORMATION 

General aspects 

MAPFRE hereby informs that the figures in this document should not be considered to be an indication of the results of MAPFRE Group or of its financial position under the new international standards in force (IFRS 9 & 17), applicable to listed companies as of January 1, 2023, and which MAPFRE will present on a semi-annual basis. 

This document is for information purposes only and its aim is to show the development of the most relevant business indicators of MAPFRE’s units in the first quarter of 2023. Its content does not constitute, nor can it be interpreted as, an offer or an invitation to sell, exchange or buy, and it is not binding on the issuer in any way. 

Certain figures included in this document have been rounded. Therefore, discrepancies in tables between totals and the sums of the amounts listed may occur due to such rounding. 

Basis of presentation of the figures in this document 

The 2023 figures and data included in this document were obtained from the financial statements prepared by MAPFRE Group Companies, according to the applicable accounting principles in each country, and which will be presented to the local supervisors following the established schedules for filing information. 

In order to achieve homogeneity in the results and ratios between units and regions, certain adjustments have been applied to the 2023 figures, the most relevant being: 

The comparative data from the first quarter 2022 reflects the figures reported by the Group under the international accounting principles in force in said year. There are no relevant valuation or presentation differences with the criteria applicable in 2023. 

Impacts of the new IFRS 9 & 17 Standards 

In the first quarter of 2023, there have been no changes in methodology nor in applicable criteria with respect to the information published in the annual report of MAPFRE Consolidated Annual Accounts for the 2022 fiscal year.[1] 

Regarding the transition balance sheet, the consolidated shareholders’ equity of MAPFRE as at January 1, 2022 under the new principles reached €8.3 billion, compared to €8.5 billion presented under the previous principles. The difference between these values is primarily due to the negative impact from the non-financial risk adjustment (-0.3 billion)[2], which are partially offset by the discount in reserves at present value (0.2 billion). Additionally, the CSM (Contractual Service Margin) has been estimated at €2.2 billion as at January 1, 2022. 

Regarding IFRS 9, the most important differences compared to the figures published in this document are:

• Net realized gains in the equity portfolio for the amount of €22 million and which are included in the result for the period, in line with local GAAP, will be presented under IFRS standards in the heading “Other Comprehensive Income” (OCI).
• The increase in unrealized gains in the mutual fund portfolio for the amount of €30 million after taxes, which is included under local GAAP in OCI, will be recorded as a result for the period under the new IFRS standard.
• “Other valuation adjustments” would have a positive impact on the IFRS result for the amount of €3 million.

The remaining information related to IFRS 17 will be published within to the legally stipulated calendar.

[1] See Section “2.5: Comparison of Information” https://www.mapfre.com/media/shareholders/2022/consolidated-annual-accounts-management-report-2022.pdf

[2] This reflects the compensation the Insurance company requires for uncertainty and possible deviations in the calculation of future cash flows.

La entrada Premiums grow 19% and reach nearly €7.8 billion in the first quarter aparece primero en Noticias Mapfre.

• The insurance company is analyzing satisfaction levels for these employees, and the impact that its policies are having on their quality of life.
• The company has committed to ensuring that in 2024, persons with disabilities will represent 3.5% of its workforce.
• This inclusion is part of MAPFRE’s commitment to sustainability.

MAPFRE has implemented its own methodology to measure the impact of integrating employees with disabilities into the company’s workplaces, to gain a better understanding of the contribution its policies are making to improving their quality of life.

The Group’s 1,001 employees with disabilities in 20 countries have responded to a survey by saying that their integration into the workplace has contributed to improving their quality of life (point score of 8 out of 10), thanks to the inclusive work environment existing at the company. The survey also assessed other specific dimensions such as their physical, material, and emotional well-being, the quality of their interpersonal and social relationships, and their professional development within the company. 

As explained by the MAPFRE Group’s Employee Experience Manager, Anastasia de las Peñas, “we’re very satisfied with the results, which reflect our commitment to inclusion”. She believes that companies committed to diversity and inclusion are able to attract talent and enhance employee loyalty, while also increasing motivation and fostering creativity among team members. “Investing in diversity benefits everyone and adds tremendous value, because it allows us to bring together all types of talents and skills. Encouraging diversity is a key part of any company’s competitiveness”, she emphasizes.

3.5% of the workforce by 2024

MAPFRE’s commitment to diversity and inclusion is part of its Sustainability Plan 2022-2024, which includes specific commitments such as ensuring that in 2024, persons with disabilities will represent 3.5% of the company’s workforce. MAPFRE’s Global Disability Program, which has been implemented in more than 20 countries, includes measures to achieve real inclusion of persons with disabilities at the company, while improving quality of life for those employees and their families. In 2022, the company hired 188 persons with disabilities.

La entrada MAPFRE evaluates the success of social inclusion in the workplace, for 1,000 employees with disabilities aparece primero en Noticias Mapfre.

• The highest level of potential is found in India, followed by the Philippines and China
• The Spanish market ranks 35th of the 43 countries analyzed

MAPFRE Economics, MAPFRE’s research arm, has published the report “Real estate markets and the insurance industry,” which shows the interconnections between the two sectors and provides data on the most significant indicators of the real estate industry that influence the development of the insurance industry. These include the housing stock and the mortgage balance, in addition to population projections, gross capital formation of private dwellings, disposable personal income, real estate transactions, housing prices, mortgage interest rates, and the credit gap of households, among others. “The level of development and maturity of the residential real estate market, and the degree of dynamism of the mortgage market are highly relevant factors in the performance of insurance activity,” states Manuel Aguilera, the General Manager of MAPFRE Economics.

The analysis centered on the residential real estate market for a set of eight countries, including Spain. In addition, MAPFRE Economic Research carried out a relative measurement of real estate activity potential first and then, based on this, of its significance for the insurance industry for a group of 43 countries. Specifically, the Indicator of Real Estate Potential for the Insurance Industry (IPIA) aims to assess the relative capacity of the insurance industry to transform the momentum from the real estate market into new insurance demand, based on an analysis of the performance of insurance demand in response to changes in disposable personal income.

The highest level of potential, measured using the IPIA, is found in India, followed by the Philippines and China. “In the case of India, the factor making the smallest contribution in the indicator of potential is that of gross capital formation in housing investment, although other economic and demographic factors improve the country’s position, especially the good performance of its insurance industry in response to increases in disposable personal income,” Aguilera adds.

At the bottom of the ranking lies Japan, which presents indicators that are typical for a very mature market with a shrinking population. It showed weak scores in all the sub-indices that influence the indicator. The lower percentile is rounded out by Romania, Greece, Italy, Finland, South Africa, Slovakia, Malaysia, Spain, the Netherlands, and Switzerland. In fact, Spain ranked 35th out of the countries analyzed.

You can watch the presentation of the report beginning at 4:30 p.m. (Madrid time) here

La entrada MAPFRE Economics creates an index to measure the potential of the real estate market and its impact on the insurance industry in 43 countries aparece primero en Noticias Mapfre.

• The prime office property covers 7,200 square meters and has an occupancy ratio of close to 100%
• The co-investment vehicle launched by both companies in 2018 reaches 500 million with this new asset

The real estate co-investment vehicle formed by MAPFRE and entities of the Swiss Life Group in 2018 to invest in prime offices in Paris has just added a new building to its portfolio. The 7,200 square meter property, located at 73 Boulevard Haussmann, comprises mainly offices with retail units at ground level, and is leased almost entirely to 16 high-quality tenants.

Swiss Life Asset Managers France set up this co-investment fund with MAPFRE in 2018. The fund is managed by Swiss Life Asset Managers France and this last acquisition sees it reach the €500 million milestone as of today.

In addition to this project, MAPFRE and other Swiss Life Group companies created a pan-European co-investment vehicle two years ago to invest in the real estate market, which was seeded with assets valued at 400 million euros and located in Spain, Belgium and Italy.

MAPFRE’s real estate sector transactions are handled via MAPFRE Inmuebles. Since 2018, several funds have been launched with leading partners in the market and the strategic focus remains the same: to seek out prime real estate in the most prestigious areas of European capitals.

About MAPFRE Inmuebles

MAPFRE Inmuebles is the MAPFRE unit through which the insurance group makes investments in the real estate sector. Since 2018, several funds have been launched with experienced partners. Currently, more than €800 million has been committed, and the strategic focus remains unchanged: seeking out prime properties in key markets across Europe’s capital cities.

Moreover, with a constant focus on sustainability, and as part of its Corporate Environmental Footprint Plan 2021-2030, MAPFRE’s aim is to build up a portfolio of buildings holding sustainability certification which, by 2030, will represent at least 50 percent of the total floor space of office buildings the company owns that have more than 3,000 m2 of space at ground level and above.

To this end, MAPFRE is prioritizing acquisitions and complete renovations that meet these criteria. Currently, 14 of its buildings (one leased and the rest owned by MAPFRE, representing 35.5 per cent of its total portfolio) hold this certification, mostly LEED (Leadership in Energy and Environmental Design).

MAPFRE is a global insurance company. It is the benchmark insurer in the Spanish market, the largest Spanish multinational insurance group in the world, the number one insurance group in Latin America and the sixth largest carrier in Europe by Non-Life premium volume. MAPFRE employs more than 31,000 professionals and in 2022, the company’s revenue was almost €29.5 billion, with net earnings of €642 million.

About Swiss Life Asset Managers

Swiss Life Asset Managers has more than 165 years of experience in managing the assets of the Swiss Life Group. This insurance background has exerted a key influence on the investment philosophy of Swiss Life Asset Managers, which is governed by such principles as value preservation, the generation of consistent and sustainable performance and a responsible approach to risks. Swiss Life Asset Managers offers this proven approach to third-party clients in Switzerland, France, Germany, Luxembourg, the UK and the Nordic countries.

As at 31 December 2022 assets under management for third-party clients amount to EUR 106.7 billion. Together with insurance assets for the Swiss Life Group, total assets under management at Swiss Life Asset Managers stood at EUR 253.3 billion. Swiss Life Asset Managers is a leading real estate manager in Europe¹. Of the assets totalling EUR 253.3 billion, EUR 90 billion is invested in real estate. In addition, Swiss Life Asset Managers, in cooperation with Livit, manages real estate totalling EUR 22.2 billion in value. Total real estate under management and administration at the end of December 2022 thus came to EUR 112.2 billion.

Swiss Life Asset Managers employs more than 2100 people in Europe.

Self-determined Life
Swiss Life enables people to lead a self-determined life and look to the future with confidence. Swiss Life Asset Managers pursues the same goal: We think long-term and act responsibly. We use our knowledge and experience to develop future-oriented investment solutions. This is how we support our customers in achieving their long-term investment objectives, which in turn also take account of their client’s needs so they can plan their financial future in a self-determined manner.

¹ INREV Fund Manager Survey 2022 (AuM as of 31.12.2021)

La entrada MAPFRE and entities of the Swiss Life Group through a real estate co-investment fund acquire a building in Paris aparece primero en Noticias Mapfre.

• The inclusion of 150 MW of additional operational photovoltaic modules brings the jointly-held company’s total to 445 MW, which will be further expanded through new green energy projects.

Iberdrola and MAPFRE are reinforcing their strategic partnership in the energy sector in Spain. Both firms have incorporated 150 new photovoltaic megawatts (MW) into the company created two years ago, bringing the total to 445 MW, comprising 295 MW of wind power and 150 MW of photovoltaic power, through Renewable Energy Ibermap, the pioneering jointly-held co-investment vehicle, which envisages the incorporation of more assets in the future.

The new 150 photovoltaic MW come from three solar installations that are already operational in Castilla la Mancha and Extremadura (Almaraz, Olmedilla and Romeral) and which deliver 50 MW each. These plants are in addition to the 295 MW of wind farms already incorporated in 2021, spread across Burgos, Almería, Málaga, Sevilla, Soria and Tarragona.

This transaction increases the joint investment in renewable energy made by two leading companies, while the portfolio is diversified with new solar photovoltaic assets. The inclusion of these new assets sees Iberdrola became the majority shareholder, with 51 percent of the company, while MAPFRE consolidates its position with the remaining 49 percent.

This new shareholder configuration provides a series of advantages, including, for example, the fact that Ibermap will now have a larger and more diversified portfolio, including photovoltaic solar plant assets, which facilitate greater stability and security in cash flows. In addition, the new assets have a longer useful life than those currently held by the vehicle.

Iberdrola shows its commitment to Spain

Iberdrola has been leading the energy transition for two decades, acting as a key driving force in transforming industry, the economy and employment in Spain. The company has launched a historic investment plan of 47 billion euros between 2023 and 2025, which it is deploying to increase its renewable capacity and smart networks and leverage the opportunities presented by the energy revolution in the world’s main economies.

Investment in Spain will come to 6 billion euros by 2025, mainly in renewable energies and smart electricity networks. Iberdrola is underlining its commitment to the energy transition in Spain as the outright leader in renewables, with almost 20,000 MW of renewable energy in the country.

On the back of investments in excess of 140 billion euros over the 20 twenty years, the group is the global leader in renewable energy, with almost 40,000 MW installed worldwide; a volume that makes its generation capacity one of the cleanest in the energy sector.

MAPFRE is committed to ESG alternatives

MAPFRE boosted its commitment to alternative assets in 2018, joining forces with the best partners in the market and always with a strong ESG focus. In addition to the renewable energy sector, it has launched real estate, infrastructure, private equity and private debt funds. It has made total commitments of 1.35 billion euros, which help it diversify an investment portfolio that exceeds 41 billion euros.

MAPFRE is a global insurance company. It is the benchmark insurer in the Spanish market, the largest Spanish multinational insurance group in the world, the number one insurance group in Latin America and the sixth largest carrier in Europe by Non-Life premium volume. MAPFRE employs more than 31,000 professionals and in 2022, the company’s revenue was almost 29.5 billion euros, with net earnings of 642 million euros.

La entrada MAPFRE and Iberdrola reinforce their strategic alliance, reaching almost 450 MW of renewable energy in Spain aparece primero en Noticias Mapfre.

IBIS Iberia 2023 will take place on 19 September 2023 at Lienzo Norte Conference Centre in Avila, Spain. This first-of-its-kind event will continue the 2023 IBIS theme of “Sustainable Strategies for Success”, providing a unique opportunity for attendees to gain insights into the latest trends, best practices, and innovations that can help address challenges and seize opportunities in the Iberian collision repair market.

Organising global collision repair market conferences over multiple decades, IBIS Worldwide has built an enviable reputation as a source of high-level information that adds value to insurance companies, vehicle manufacturers, collision repair operators, and the associated supply chain. As the IBIS Global Innovation Partner, CESVIMAP brings its 40 years of experience in collision sector technological know-how and expertise, ensuring the topics to be discussed are both relevant and value-adding to participants.

IBIS Worldwide CEO Jason Moseley said: “We are delighted to further strengthen our partnership with CESVIMAP, having an aligned vision for the future of the sector. In organising IBIS Iberia 2023 together, it will create a force-multiplier of valuable output helping positively shape the next phase of evolution for the Iberian collision repair market.”

CESVIMAP general manager José María Cancer added: “CESVIMAP is a pillar of MAPFRE Open Innovation, and we have been collaborating with IBIS for years as a Global Innovation Partner. Now, we are proud to organise IBIS Iberia together with the world’s leading repair industry conference company to disseminate the characteristics and future vision of the aftersales market focused on the Iberian market.”

Visit www.ibisworldwide.com or subscribe to its LinkedIn and Twitter feeds (@IBISworldwide) to stay up to date about all IBIS conferences.

If you are interested in attending IBIS Iberia 2023 or becoming one of the IBIS Iberia partners, please contact IBIS Worldwide head of sales Suzie Scott at suzie@ibisworldwide.com.

Please contact Emily Miles at emily@ibisworldwide.com for all other event-related enquiries.

Note for editors:

Since the first IBIS conference in 2001, the International Bodyshop Industry Symposium (IBIS) has become firmly established as the leading global conference and networking provider for automotive collision repair industry leaders and influencers.

The inaugural conference was held at the Celtic Manor Resort in Wales and hosted 120 delegates from 12 countries. Since then, IBIS events have been held at venues on five continents, reaching more than a thousand influencers each year, with the Global Summit annually attracting more than 350 delegates from around 30 countries.

IBIS continues to spread its world-class conferencing in new territories and has recently visited markets across the globe including Ireland, USA, India, South Africa, China, Brazil, Mexico, the Middle East and Turkey.

La entrada IBIS Worldwide and CESVIMAP announce IBIS Iberia 2023 aparece primero en Noticias Mapfre.

• VITTORIA ASSICURAZIONI is the eight-largest insurance company in the Italian non-life market in terms of premium volume.
• Mawdy is an international company operating in 23 countries, and the assistance unit of MAPFRE.
• The joint venture will focus on personal and vehicle assistance services, with the intention of expanding the offer in a second phase.

MAPFRE’s assistance division, recently renamed as MAWDY, and the Italian insurance company VITTORIA ASSICURAZIONI have reached an agreement that will provide assistance services to the Italian market. Both companies will hold 50 percent of the shares in a newly-formed entity, and they expect to leverage synergies and to grow in the Italian market as a result of this new partnership. MAPFRE GROUP and VITTORIA ASSICURAZIONI have been working together since 2011.

The agreement will target B2B2C agreements, selling solutions to its corporate partners. In the beginning, the activity will focus on providing personal and vehicle assistance services, but it aims to expand this offering to include other assistance services in a second phase. Innovation will be one of the key pillars of the value proposition, delivered through the design of digital solutions adapted to the needs of the partners, multichannel communication with the customer, and other aspects.

The agreement includes the appointment of Gian Paolo Aliani Soderi as general manager. He is currently MAWDY’s general manager in Italy (MAPFRE Asistencia Branch and MAPFRE Warranty) and will continue in this role.

After signing the agreement, the new company will be constituted once the transaction has been authorized by the European Union competition authorities.

This agreement enables VITTORIA ASSICURAZIONI to pursue its ambition of broadening its offer to existing and new clients by providing assistance services in an innovative manner based on the extensive experience of its partner.

MAWDY, through MAPFRE WARRANTY and its country-level operation, is developing products related to assistance, automobile protection (especially mechanical warranties), and devices.

MAPFRE GROUP and VITTORIA ASSICURAZIONI have enjoyed a business relationship for over a decade through underwriting reinsurance contracts for motorway assistance, home assistance, travel insurance and health claims management.

“Reliability, trustworthiness and competence are just some of the values that feed the long-standing partnership between Vittoria Assicurazioni and Mawdy. This new agreement, consolidated by more than ten years of collaboration, will allow the Company not only to confirm and increase its commitment to innovation, but also to make its own concrete contribution in the services industry, with particular reference to insurance services that are constantly changing, generating added value for the customer”, comments Cesare Caldarelli, CEO of Vittoria Assicurazioni.

“At Mawdy we are focused on designing solutions that allow our partners to provide a differential offer for their clients. With the agreement reached with Vittoria Asicurazioni, with whom we have been collaborating in the Italian insurance market for more than a decade, we take another step on a path of joint success to create an innovative and personalized proposal”, declares Leire Jiménez, CEO of MAWDY.

About MAWDY

MAWDY is the MAPFRE Group’s assistance unit. Known as MAPFRE Asistencia until 2023, MAWDY is a global company operating in 23 countries, with a presence mainly in Latin America and Europe, and has more than 2,000 employees. MAWDY specializes in digital distribution models with partners and companies from various sectors, to which it provides services and solutions that go beyond insurance and complement the offerings of its business partners. In 2022, the company generated revenues of 432 million euros.

MAWDY is part of MAPFRE, a global insurance company. It is the benchmark insurer in the Spanish market, the largest Spanish multinational insurance group in the world, the number one insurance group in Latin America and the sixth largest carrier in Europe by Non-Life premium volume. MAPFRE employs more than 31,000 professionals and in 2022, the company’s revenue was almost 29.5 billion euros, with net earnings of 642 million euros.

About VITTORIA ASSICURAZIONI

Founded in 1921, VITTORIA ASSICURAZIONI S.p.A. is the eight-largest insurance company in Italy in terms of total 2021 Non-Life premium volume. At the end of 2022, total premiums (Life and Non-Life) amounted to about 1.68 billion euros. The Motor line of business represents 52.8 percent of the company’s total volume. The agent sales network consists of 490 agencies and 1,177 sub-agencies. Northern Italy accounts for 56.3 percent of total business, with the central region representing 28.2 percent and the south 15.4 percent.

MAPFRE – MAWDY Media Contact:

Javier Caamaño – javiercm@mapfre.com – +34 653 12 07 00

VITTORIA Assicurazioni Media Contacts:

Gloria Dal Molin, M. +39 393 8291512, g.dalmolin@doppiaelica.com

Isabella Poretti, T. +39 02409993264, i.poretti@doppiaelica.com

La entrada MAWDY partners with VITTORIA ASSICURAZIONI to provide services in Italy aparece primero en Noticias Mapfre.

• It will be held this Saturday, March 25, between 8:30 pm and 9:30 pm.
• In 2022, more than 50 of the Group’s buildings turned off their lights.
• Since 2009, the Group has participated in Earth Hour, which is a reminder of the main environmental problems, such as global warming.
• By 2022, the insurance company had reduced its energy consumption by 12% compared to 2019 and is working to achieve global neutrality by 2030.

MAPFRE is once again joining the Earth Hour initiative led by WWF, the largest mobilization campaign against climate change. This year, the slogan is “Give an Hour for Earth”, giving society the opportunity to show its concern for the environmental degradation of the planet and the need to act.

The multinational has invited the approximately 40 countries in which it is present to turn off the lights in all its buildings this Saturday, March 25 for 60 minutes, between 8.30 pm and 9.30 pm. In 2022, more than 50 buildings in 12 Group countries joined the initiative.

In 2009, MAPFRE began to collaborate with WWF to show its commitment to the fight against climate change, a challenge it carries out through an ambitious Environmental Footprint Plan, whose ultimate objective is to reduce the company’s carbon footprint.

In 2022, it reduced its energy consumption by 19,339,218 kWh, 12% compared to 2019. This was made possible, among other measures, by the implementation of hybrid work models, optimization of work spaces, investment in energy efficiency, adjustment of air conditioning temperatures and installation of photovoltaic solar panels. In Spain and other countries, 100% renewable energy is also used. Thanks to this decrease in energy consumption, the insurance company avoided releasing 4,095 MT of CO₂e into the atmosphere last year.

MAPFRE is moving forward in its commitment to energy efficiency as a key element of its decarbonization strategy and to achieve carbon neutrality by 2030 in all the countries where it operates.

La entrada MAPFRE will switch off its buildings during Earth Hour as a sign of its commitment to sustainability aparece primero en Noticias Mapfre.