Solvency II ratio improves eight points to over 200 percent, the midpoint of the reference framework and twice the capital required by the regulator, to gain fourth place in the top six of Europe’s leading insurers.
The calculation reflects an improvement in MAPFRE’s eligible own funds as a result of a positive development of financial variables, in an environment recovering from the crisis associated with COVID-19, and places MAPFRE behind Allianz, Generali and Talanx, but ahead of AXA and Zurich (see notes to editors).
MAPFRE has informed the General Directorate for Insurance and Pension Funds of the 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.
MAPFRE’s results are detailed below, along with the results calculated at the close of 2020 for comparison purposes:
| 12/31/2020
4,622 |
3/31/2021
4,695 |
|
| Solvency Capital Requirement (SCR) | ||
| Eligible own funds to cover the SCR | 8,917 | 9,436 |
| Solvency ratio (SCR coverage) | 192.9% | 201.0% |
Figures in millions of euros
The ratio remains very close to 200 percent, the midpoint of the tolerance range established by the company of +/- 25 points.
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