mapfre-asistencia.com
E M E A I
R e g i o n a l
2 0 1 4
Your life. Our world
Takaful or Islamic
ReinsuranceIn Mediterranean
28th November, Barcelona
mapfre-asistencia.com
TakafulIslamic Insurance
Differences between Models ind
ex
Your life. Our world
MAPFRE ASISTENCIA
Takaful in the world
Fatwa
New products
Model
Potencial market
Countries 47
Employees 36,669
Intermediaries 68,207
5 continents
47 countries
More than 23 million clients
Recognitions:
We are a multinational team which works
to constantly achieve advancements in
service, and develop a successful
relationship with our clients, distributors,
providers, shareholders and society
Reliability, Integrity, Dedication to service,
Innovation in leadership and a Committed
team are our
values
the trusted global insurer
Third yearquarter 2014
end of reporting period: 30/09/2014
Consolidatedincome
€ 25,889.3M € 20,242M
Premiums € 21,835.5M € 16,857M
Imputed earnings € 790.5M € 672,8M
Combined ratio Non-life
96.1% 95.8%
Source: http://www.mapfregrupo.com/ccm/content/documentos/accionistas/ficheros/inf
ormes_trimestrales/2014/2014-11-05_Quarterly_Financial_report_9M_2014.pdf
2013
the trusted global insurer
NUMBER ONE Non-life insurer in Latin America
SIXTH-RANKED Non-life insurer in Europe
SECOND-RANKED Non-life insurer in Europe in terms of solvency
THIRD-RANKED global assistance insurer
NUMBER ONE insurer on the Spanish market
THIRTEENTH-RANKED global reinsurer
the trusted global insurer
S&P´s Comments:
Business Risk Profile: Strong
Ratings
BBB+/Stable
Source: http://www.mapfregrupo.com/corporativo/accionistas/en/cinformativo/ratings_eng.shtml
Strong brand recognition and leading, profitable positions in MAPFRE's core insurance markets of Spain and Latin America, as well as in the international reinsurance market.
Broad, successful diversification by business line and by geography.
Source: http://www.mapfregrupo.com/ccm/content/documentos/accionistas/ficheros/rating/2014-07-11_Mapfre_Report.pdf
A/Stable
Financial Strength
Holding Company
Financial Risk Profile: Strong
Credit risk exposure is a relative weakness, owing to significant exposure to Spanish investments.
Strong financial flexibility, with demonstrated access to capital markets through multiple sources.
Other Assements
Enterprise risk management: Adequate with strong risk controls, particularly for underwriting
Management and governance: Proven ability to grow profitably
Liquidity: Excellent, with liquid assets and strong cash flows Sovereign risk: Rated three notches higher than the long-
term rating on Spain
Definition:
Comes from the Arabic word Kafala, which means "guaranteeing each other" or "joint guarantee".
The Takaful is based on mutual cooperation, responsibility, insurance, protection and assistance between groups of participants.
It’s a form of mutual insurance that complies with the principles of Sharia (*).
(*) The moral code and Islamic law.
Takaful
Your life. Our world
Definition:
It’s an agreement between an Islamic insurance companyand insurance applicants (individuals or legal entities),which states that the applicants are accepted as membersif they agree to pay a contribution.
This contribution is a free gift to a fund, and providedthat the contributor be compensated in case ofoccurrence of the risk under the terms of the insurancepolicy, technical standards and the articles of association.
Islamic
insurance
Your life. Our world
Differences
between Models
Your life. Our world
Takaful
The Takaful and
the Insurance
Insurance
MutualsSharia
(Islamic Law)
Your life. Our world
Main figures:
2008 : Billion US$ 5,323
2009 : Billion US$ 6,975
2010 : Billion US$ 9,148
2011 : Billion US$ 11,999
2012 : Billion US$ 13,918
Your life. Our world
Global Takaful
Contributions
Growth a 16% per year
GCC
FAR EAST
AFRICA
MIDDLE EAST
EAST INDIAN CONTINENT
LEVANTOTHERS
38
18
139
8
42
78
Number of
islamic operators
Your life. Our world
Africa
East IndianSub Continent
Far East
GCC
Levant
Middle East (Non Arab)
Others
4%
9%
4%
19%
6%
38% 20%
Market Share of Islamic
Insurance Operators
Your life. Our world
50%
16%
5%
10%
9%
6%4% Motor
Fire (Excluding Energy)
Engineering
Accident/GTPL/EL/WC (excludingMedical)
Marine Hull
Marine Cargo
Medical
Takaful main
Business lines
Your life. Our world
3896 4370 49345645
63527149
80441531
19362246
2721
3296
3993
4386
1077
1314
1462
1703
1984
2311
2693
378
432
472
527
588
657
753
193202
215
227
239
253
267
34
74
86
136
215
341
540
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
2009 2010 2011 2012 2013 2014 E 2015 F
Saudi Arabia Asean GCC Africa South Asia NORTH AFRICA
Key Takaful business
lines in major markets
Your life. Our world
Your life. Our world
• Hannover Re opened in 2006 Retakaful a specific structure in Bahrain
Allianz was also installed in 2006 Bahrain to develop the niche Takaful
SCOR requested approval Retakaful Malaysia in 2007
Munich Re announces end of September 2007 Retakaful marketing products in South-east from its subsidiary in Kuala Lumpur (Malaysia)
Global Retakaful leaders
global solutions for assistance, services and speciality risks
For companies in the insurance, automotive, finance, tourism and major corporate groups sector, as well as for individuals and brokers
Competitive advantages which help you improve and enhance your business right from the outset
Innovative products and services which improve your quality of life, and that of your clients
With the backing and support which comes from being part of the strong MAPFRE Insurance Group
That’s our world.
Your life. Our world
improving your and your clients’ quality of life
for more than 25 years
about
us
1986MAPFRE ASISTENCIA is established
1987International expansion commences
1990Travel Insurance product is launched
2003Speciality Risks product is launched
2005ITIJ awardfor Best International Assistance Company
2007Launch of FUTURA, a smart platform for assigning assistance services
2010Online sales to individuals commences
2011ITIJ award for Best Travel Insurer
Launch of MAiassist, An assistance app for SmartphonesYour life. Our world
1,142 M€income
€ 50MEarnings
(EBT)
92.6%Combined ratio
1,572Corporate
clients
198Mbeneficiaries
104.554Minsureds
6,005 employees
presence on 5 continents
7Massistances
2013WTO Affiliated
MemberITIJ award for
Best Travel Insurer
Rating
Baa1/Positive Outlook
Source: http://www.mapfregrupo.com/corporativo/accionistas/en/cinformativo/ratings_eng.shtml
global presence, local experience
Global, regional and local customer service (24 hours a day, 365 days a year)
Your life. Our world
44 countriesdirect presence
107 countrieswith business ties
Global coverage
57 Offices12 Contact Centres36 24/7 Contact Centres
NORTHAM6 Offices1 Contact Centres3 24/7 Contact C.
LATAM NORTH7 Offices7 24/7 Contact C.
LATAM SOUTH8 Offices1 Contact Centres7 24/7 Contact Centres
BRAZIL1 Office1 Contact C.
IBERIA2 Offices 1 24/7 Contact C.
EMEA 22 Offices7 Contact Centres14 24/7 Contact C.
APAC11 Offices3 Contact Centres4 24/7 Contact C.
FOR
COMPANIES
YOUR VEHICLE. OUR WORLD
YOUR LIFESTYLE. OUR WORLD
SEC
TOR
INSURANCE
FINANCE
CORPORATE
GROUPS
YOUR ROAD. OUR WORLD
YOUR HOME. OUR WORLD
YOUR HEALTH. OUR WORLD
YOUR TRAVEL. OUR WORLD
FOR
BROKERS
COMPLETE AND INNOVATIVE SOLUTIONS ADAPTED TO EACH CLIENT’SNEEDS
TE
CH
NO
LO
GY
I N N O V A T I O N
GLOBAL COVERAGE
ASSISTANCE, SERVICES AND SPECIALITY RISKS
YOUR VEHICLE. OUR WORLDYOUR TRAVEL. OUR WORLD
YOUR LIFESTYLE. OUR WORLD
FOR
INDIVIDUALS ASSISTANCE, SERVICES AND SPECIALITY RISKS
BRANDS
GLOBAL SOLUTIONS
TRAVEL
AND
TOURISM
products and brands
AUTOMOTIVE
MAPFRE ASSISTANCE Got a Fatwa (*) As Re Takaful company
In Travel Assistance in January 2014, from
Sheikh Mokhtar Sellami
(*) Formal Islamic legal opinion
Chairman of the Supervisory Charaiqueboard of Zaytuna Bank
Your life. Our world
Fatwa
RETAKAFUL WINDOW
ASSISTANCE Company. SERVICE Co TAKAFUL Company
MAPFRE RETAKAFUL WORKFLOW
SERVICEAGREEMENT
TRAVEL ASSISTANCEPRODUCTSERVICES
Providers network Insurers
SERVICECONTRACT
RE-TAKAFUL TREATY
Your life. Our world
Model
RE-TAKAFUL TRAVEL ASSISTANCE AGREEMENT-Between-
TAKAFUL INSURANCE COMPANYWith their address at: ___________________
___________________________________ The Country(Hereinafter called "The Takaful Insurance Company")
Of the one part.And
MAPFRE ASISTENCIA COMPAÑIA INTERNACIONAL DE SEGUROS Y REASEGUROS, S.A.,
with their address at :C/ Sor Angela de la Cruz, n°6 E- 28020 Madrid, España,
(Hereinafter called "The Company")of the other part
Your life. Our world
Agreement
Roadside Assistance
Extended Warranty
Brown & White
GAP
PPI
Home Assistance
MAPFRE ASISTENCIA
New Takaful Products
Your life. Our world
The Windows Model
In the windows model, a conventional Reinsurance company (MAPFRE ASISTENCIA) offers Islamic policies,
via the same channels it uses for their conventional Reinsurance services.
No Branches Dedicated & No Subsidiaries separate legal entity
MAPFRE ASSISTANCE
Re-Takaful Business Model
Your life. Our world
MAPFREASISTENCIA
Actual market
Your life. Our world
MAPFRE ASISTENCIAPotential market
mapfre-asistencia.com
Your life. Our world
Thank you!