MAPFRE ‘on track’
- November 16, 2016
- Posted by: Simon Wait
- Category: Industry News
Antonio Huertas, chairman and CEO of MAPFRE, is convinced the company is on track to meet the financial and strategic objectives assumed for 2016-2018.
The message came as part of the MAPFRE Investor Day which saw 80 analysts and financial experts meet in Madrid. The initiative forms part of the company’s focus on transparency, designed to enhance the quality and quantity of the information MAPFRE’s different stakeholders receive about the company.
While discussing the progress made in the strategic plan implemented this year, Antonio affirmed that while the commitments undertaken by the company are indeed ambitious, he is convinced that MAPFRE has the right strategy, resources and human team it needs to meet these objectives.
Antonio told delegates, ‘We have no doubt that meeting these commitments is the lever we need to place MAPFRE in a solidly competitive position with respect to the digital transformation the sector will see in the coming years.’
The 2016-2018 strategic plan focuses on profitable growth and is based on four key pillars: client orientation, digital transformation, excellence in technical and operational management, and culture and human talent.
The plan also incorporates financial targets, such as reaching revenues of €31,000 million at the 2018 year end, paying out at least 50% of the Group’s profits during the period to shareholders, maintaining the average combined ratio below 96% and securing an average ROE of at least 11%.