MAPFRE GROUPFebruary 2013

ORGANIZATION CHART

MAPFRE S.A.

SPAIN & PORTUGAL INSURANCE INTERNATIONAL INSURANCE GLOBAL BUSINESSES

100% 99.2% 91.5%

2

MAPFRE FAMILIAR

MAPFRE VIDA

MAPFRE EMPRESAS

MAPFRE AMÉRICA

MAPFRE INTERNACIONAL

MAPFRE RE

MAPFRE ASISTENCIA

MAPFRE GLOBAL RISKS

100%

100%

100%

99.2%

100%

91.5%

100%

100%

MAPFRE SEGUROS GERAIS

100%

Year

Million €

EmployeesRevenues

Resultsbefore taxes

2012 25,301 1,372 35,586

2011 23,530 1,637 34,390

2010 20,471 1,431 36,744

2009 18,830 1,446 35,225

2008 17,711 1,383 34,603

2007 15,207 1,366 30,600

2006 13,583 1,156 28,091

HISTORICAL EVOLUTION 1986-2012*

3* 2005-2012 NIIF; 1986 – 2004 PGC

2006 13,583 1,156 28,091

2005 12,189 872 24,967

2004 10,831 739 19,920

2003 9,473 606 18,605

2001 8,933 316 16,756

1998 4,546 178 15,219

1995 3,249 203 11,292

1992 2,419 37 9,028

1989 1,214 49 5,369

1986 434 20 2,823

46 Countries

Canada

Turkey

Russia

China

UK

Tunisia

Portugal

Ireland

France

Belgium

Italy Spain

Germany Luxembourg

Hungary

Greece

MaltaJapan

MAPFRE GROUP’s INTERNATIONAL PRESENCE

4

Honduras

Direct Insurance

Reinsurance

Assistance

USA

Mexico

Paraguay

Uruguay Chile

Peru

Argentina

El Salvador

Colombia Venezuela

Guatemala

Ecuador

Costa Rica Panama

Dominican Republic Puerto Rico

Nicaragua Philippines

Egypt

Jordan

Bahrain India

China

Brazil

Dubai

Algeria

Tunisia

Libya

Global Risks

MaltaJapan

Taiwan

Australia

MAPFRE REFebruary 2013

MAPFRE RE’s EVOLUTION

1982 Constitution of MAPFRE RE, SPAIN

1984 Opening of the Representative Office in MEXICO

1986 Opening of the Representative Office in MANILA

1988 Constitution of MAPLUX RE, LUXEMBOURG

Opening of the Representative Office in MILANOpening of the Representative Office in CARACAS

Acquisition of CAJA REASEGURADORA, CHILE

1989 Acquisition of CIAR, BELGIUM

1990 Opening of the Representative Office in BUENOS AIRES

1991 Opening of the Representative Office in LISBON

Acquisition of REASEGURADORA HEMISFERICA, COLOMBIAOpening of the Representative Office in LONDON

1993 Opening of the Representative Office in ATHENS

6

1994 Conversion of the LONDON Representative Office into Branch Office

1995 Incorporation of ITSEMAP

1996 Opening of the Representative Offices in LIMA and SAO PAULO

1997 New Branch Office in BRUSSELS

2000 Creation of MAPFRE REINSURANCE CORPORATION (MRC) in NEW JERSEY, USA

2004 New Branch Office of MRC in TORONTO, CANADA

2005 MAPFRE RE accredited in NEW YORK, USA

2006 New Branch Office in MUNICH

2007 Transfer of MRC Toronto Branch to MAPFRE RE

2008 Constitution of MAPFRE RE do BRAZIL (local reinsurer)

Reinsurance representative within MAPFRE SA Rep. office in BEIJING

2011 New Branch Office in Paris (Life & Personal Lines)

Conversion of the MILAN Representative Office into Branch Office

Conversion of the BUENOS AIRES Representative Office into Branch Office

INTERNATIONAL PRESENCE

•

•

•

•

•

Milan (Italy). Branch Office

London (UK). Branch Office

Lisbon (Portugal)

Brussels (Belgium). Branch Office

Madrid (Spain). Head Office

• Santiago (Chile)

• Mexico D.F. (Mexico)

• Caracas (Venezuela)

• Bogota (Colombia)

Buenos Aires (Argentina)•

Latin AmericaEurope

GEOGRAPHICAL NETWORK

7

Manila (Philippines)

Beijing (China) Rep. in MAPFRE S.A.

•

•

•

•

New Jersey (USA)

Toronto (Canada). Branch Office

Munich (Germany). Branch Office

Milan (Italy). Branch Office

•

•

AsiaUSA / Canada

• São Paulo (Brazil)

• Santiago (Chile)

Paris (France). Branch Office - (Life & Personal Lines)•

MAPFRE RE’s SHAREHOLDERS

COMPANY %

MAPFRE S.A. (Spain) 91.5%

Ecclesiastical Insurance (UK) 3.8%

8Data as at 31.12.2012

Societá Cattolica di Assicurazione (Italy) 2.2%

Vaudoise Assurances Holding (Switzerland) 1.2%

Shelter Mutual Insurance Co. (USA) 1.0%

MAAF Assurances (France) 0.3%

RATING MAPFRE RE

Agency Rating

Standard & Poor’s (1) BBB +

A. M. Best (2) A

9

(1) Outlook Negative : Rating updated on 25th October 2012.

(2) Outlook Negative : Rating updated on 26th June 2012.

P&L ACCOUNT INFORMATION

MAPFRE RE CONSOLIDATED 2004 2005 2006 2007 2008 2009 2010 2011 2012∆ 2012

s/ 2011

Gross Written Premium 1,132.6 1,337.4 1,437.7 1,601.2 1,778.6 2,053.7 2,371.6 2,630.7 2,844.5 +8.1%

Net Premium Earned 624.1 835.4 877.6 1,005.5 1,137.8 1,311.2 1,479.9 1,749.0 1,786.2 +2.1%

Net Incurred Losses -381.8 -563.6 -514.3 -619.4 -741.6 -843.9 -987.5 -1,258.9 -1,229.4 -2.3%

Net Commissions and -214.7 -268.8 -302.3 -318.4 -346.5 -388.4 -422.2 -497.1 -513.1 +3.2%

10

Net Commissions and Expenses

-214.7 -268.8 -302.3 -318.4 -346.5 -388.4 -422.2 -497.1 -513.1 +3.2%

Net Technical Result 27.5 3.0 61.0 67.7 49.7 78.9 70.3 -7.3 43.6 697.3%

Financial Income 34.6 51.4 54.7 64.0 97.9 80.0 103.2 115.0 77.5 -32.6%

Result before taxes 62.1 54.4 115.7 131.7 147.6 158.9 173.4 107.7 121.1 +12.4%

Net Result (after taxes) 41.1 32.3 77.2 87.8 103.6 112.6 124.1 78.6 87.1 +10.8%

€ Million

BALANCE SHEET INFORMATION

2003 2005 2007 2008 2009 2010 2011 2012∆ 2012 s/ 2011

Investments 973.2 1,713.1 2,004.1 2,173.2 2,487.5 2,685.8 2,905.5 3,240.2 +11.5 %

Total Assets 1,429.6 2,545.2 2,879.9 3,130.7 3,476.0 4,087.9 4,363.5 4,612.8 +5.7 %

11

Shareholders’ Funds 325.6 622.7 725.2 742.8 839.7 848.4 847.7 968.6 +14.3%

R.O.E. 8.9% 5.3% 12.8% 14.1% 14.0% 14.4% 9.3% 9.7 --

€ Million

EVOLUTION OF ACCOUNTED GROSS PREMIUM

1.500

2.000

2.500

3.000

+18%

+11.4%

+11.1%

+7.5%

+15.5%

+15.5%

+10.9%

+8.1%

12

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Premiums 469,2 542,0 606,3 687,9 760,1 866,4 1.132,6 1.337,0 1.437,7 1.601,2 1.778,6 2.053,7 2.371,6 2.630,7 2.844,5

0

500

1.000

+18%

+31%

€ Million

EVOLUTION R.O.E.

MAPFRE RE has consistently produced positive results.

A Capital Increase has never been required to cover losses.

They have been used to finance the company's development.

10,0%

12,5%

15,0%

13

0,0%

2,5%

5,0%

7,5%

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

SG IFRS

GROSS PREMIUMS BY GEOGRAPHIC AREA

USA & Canada

Spain &Portugal

6%

Rest ofEurope

LatinAmerica

24%

AAA15%

USA & Canada

8%

55,1%

Underwriting Year 2013

14

Spain &Portugal

41%

Rest of Europe

6%

Latin America

44%

AAA1%

8%Europe

47%24%

44,9%

MAPFRE NON GROUP

DISTRIBUTION OF PREMIUM BY TYPE OF BUSINESS

XL

Facultative11,3%

Facultative9,5%

Year 2003 Year 2013

Total Portfolio

15

XL14,5%

Proportional74,2%

Proportional70,0%

XL20,5%

DISTRIBUTION OF PREMIUM BY LINE OF BUSINESS

(by Underwriting Year)

YEAR 2013YEAR 2003

Property55,2%

Bonds &

M.A.T.6,2%

Assistance0,9%

Life, Accident, Health8,9%

Total Portfolio

Property30,7%

Assistance

Life, Accident, Health18,0%

16

CAT13,2%

Agricultural2,7%

Motor / TPL6,7%

Bonds & Credit6,4%

CAT19,5%

Agricultural5,2%

Motor / TPL14,3%

Bonds & Credit5,9%

M.A.T.5,1%

Assistance1,3%