It significantly improves compared to 2020 year-end and remains within the target range.
MAPFRE has informed the General Directorate for Insurance and Pension Funds of an update of its solvency position as on December 31, 2021. The current and previous quarters’ figures are detailed below for comparison purposes:
MAPFRE Group Solvency II ratio stands at 206.3 percent as on December 2021, compared to 192.9 percent at the end of December 2020, including transitional measures. This ratio would be 195.2 percent excluding the effect of those measures.
Eligible own funds reached 9.3 billion euros at that date, of which 87 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 Capital Requirement (SCR) reduction as on December 31, 2021 includes the impact of the Bankia Vida exit.
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).