It improves eight points and reaches over 200 percent, the midpoint of the reference framework and twice the capital required by the regulator

MAPFRE has informed the General Directorate for Insurance and Pension Funds of an update

of the calculation of its Solvency II position as on March 31, 2021. Following a request from the Spanish supervisor, the SCR will continue to be calculated quarterly as a result of the COVID-19 crisis.

The results are detailed below, along with the results calculated at the close of 2020 for comparison purposes:

12/31/20203/31/2021
Solvency Capital Requirement (SCR)4,6224,695
Eligible own funds to cover the SCR8,9179,436
Solvency ratio (SCR coverage)192.9%201.0%
Figures in millions of euros

 

The Solvency II ratio reflects an improvement in eligible own funds as a result of a positive development of financial variables, in an environment recovering from the crisis associated with COVID-19. The ratio remains very close to 200 percent, the midpoint of the tolerance range established by the company of +/- 25 points.