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Mapfre, S.A. (OTCPK:MPFRF) Q3 2024 Earnings Convention Name November 4, 2024 12:30 PM ET
Firm Contributors
Leandra Clark – Head of Investor RelationsFernando Mata Verdejo – Chief Monetary Officer, and Third Vice ChairmanJose Luis Jimenez – Deputy Chief Monetary OfficerFelipe Navarro – Deputy Normal Supervisor of Finance, and Treasurer
Convention Name Contributors
Leandra Clark
Good afternoon. Welcome to MAPFRE’s Earnings Name for the September 2024 Outcomes. That is Leandra Clark, Head of Investor Relations at MAPFRE.
Becoming a member of us at this time are key members of our administration staff, Fernando Mata, CFO, and Third Vice Chairman; Jose Luis Jimenez, Deputy CFO; and Felipe Navarro, Deputy Normal Supervisor of the Finance space and treasurer.
We admire you becoming a member of us for at this time’s name. We’ll present an outline of our monetary efficiency for the third quarter and enterprise traits. And after, we are going to open the ground for Q&A. You need to use the Ask a Query hyperlink at any level in the course of the name.
I’ll now hand the ground over to Fernando Mata.
Fernando Mata Verdejo
Good morning, everybody. Thanks, Leandra. Thanks all for becoming a member of us at this time. I am happy to current our outcomes for the third quarter. Web earnings is up 39%, and stands at EUR654 million after a EUR90 million impairment and goodwill in Verti, Germany. With out this impact, we could have posted a superb EUR744 million for the primary 9 months, over EUR280 million within the third quarter, and an adjusted ROE of 12%.
Development stays robust, though we’re dealing with a drag from currencies, and tariffs are normalizing in some markets. Premiums are up 4.6% and 6% at fixed trade charges. Profitability was pushed by enhancements in technical administration throughout all markets. The stability sheet is stronger each on the asset facet with the goodwill write-down in addition to the legal responsibility facet with an much more
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