head mapfreqAntonio Huertas announced this Thursday that the insurance company is diving into a review.Car insurance prices that will cause “more than half of customers to pay more” even though “many customers will pay less”. Execution does not mean that the process will be executed in a general way, but “personalized according to customer profile and risk type” and justified this. make this business profitable in the context of a sharp increase in costs due to inflation. “It is not true when it is said that there will be no increase in motor insurance prices. you have to be aware and realistic“, published a veiled reference to one of its competitors.
the orchards underlined that the results of the automobile business were not good “for any company in the world”, as it shows affiliate United States of America entered casualties for the first time (16.2 million). In Spain, he claimed, cousin half hectare went down between 2% and 3% in the last decade due to strong competition, but inflationary spiral makes it unsustainable due to its cost. repair and replace Cars. That’s why Mapfre will review prices to “continue to make its business sustainable” in the long run. service quality to protect its customers and employment and the interests of its shareholders.
The executive has likewise secured it. supervisory bodies In many countries where Mapfre operates, they are facilitating price hikes out of concern for the sustainability of the business. Moreover, he admitted that: “customer part” automobile in spain do not accept increase, however, showed that he was convinced of it. there will be no majority nor related. “Customer in general value many other thingsMapfre is not always the cheapest company and number one Almost all auto insurance in this country six million vehicles insured and has a market share of approximately 20%. It is true that it is difficult to increase, because once these levels are reached we attack target of all competitors”, he underlined.
More cost, less extraordinary
insurer 642 million won euro last year 16.1% less than before If one excludes from comparison, 167 million capital gains acquired in 2021 from the sale of its alliance with bankia with CaixaBank and 104 million devoted to an extraordinary plan incentive terminations and other measures to increase efficiency, recurring benefit I would fall less 7%. The effect of this decrease inflation (which increases the cost of claims connected with the provision of a service for the benefit of the customer), accident rate at work cars (both due to increased activity after the end of the period covid restrictions according to the cost of repairs), and two disasters: followed him from the basin Parana River in Brazil and Paraguay (112 million for agricultural insurance) and hurricane fiona in Puerto Rico (31 million).
Despite the drop in profits, the company this Thursday New dividend of 0.85 euros To its shareholders, per share added to the already paid 0.6 euros 447 million €Although in recent years profit percentage Distributed increments up to 69.5%. “We never considered the lowest dividend, we understand that adequate financial capacitykeep it at very high levels solvency what we have, to maintain it. in the front piece we have protect our shareholdersWe don’t want to make any negative surprises. we would even increase in subsequent years “To the extent that the result can improve,” Huertas said. stock increase about 1.5%
more benefits
Finance director looking at 2023, fernando matapointed out that profit will increaseIf the accident rate is normal and no extraordinary disaster occurs above normal, price increase increase in motor insurance and interest rates. Regarding the latter, Huertas encouraged individuals to go to their offices rather than buy. treasure letters: “We offer much more, the Treasury bond product is a something very basic It’s very good right now that it doesn’t have any additional protections and it’s all public debt because profitability is interestingbut when an insurance product approaches or equals this profitability and also offers a complete protection program, life, disability and death coverageIt’s much more interesting.”
The executive likewise participated in the recent demand of the business sector before the crisis. United We Can review: “The company must be defended, the company is the engine of this country“It accounts for 80% of employment,” he said. political tension stop focusing responsible politicians on the issue. real problems in society and our country and they’re being redirected to things less relevant”. He also criticized the Government’s increase in the inter-professional minimum wage (SMI) without meeting with CEOE employers and “moment”just to make a decision, without taking into account the different situations of the different productive sectors. “politically very sellable”.
Source: Informacion
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