Link Securities | In a Relevant Fact sent to the CNMV, Mapfre has communicated to the General Directorate of Insurance and Pension Funds the quarterly recalculation of its solvency position. This is to comply with the European Central Bank (ECB)’s requirement in the context of financial stability. It also follows the Insurance Supervisor’s recommendation based on good practices for Internationally Active Insurance Groups.
According to the calculations which have been made public, Mapfre’s Solvency II ratio stood at 205,3% end-March 2022, compared to 206,3% at end-December 2021, including transitional measures. This ratio would be 195,3%, excluding the impact of the afore-mentioned measures.
Eligible own funds reached 9.273 billion euros in the same period, of which 88.1% are of high quality (Tier 1). The ratio remains very solid and stable, backed by a high level of diversification and strict investment and ALM management. Whatsmore, the solvency position remains within the tolerance range established by the Group (target solvency ratio of 200% with a 25 percentage points tolerance).