Grupo Mutua Madrilea has presented its results for 2020, the year in which it recorded a net profit of 304.1 million euros, which is 5.2% more than the previous year. Premium income reached 5,580.7 million euros, which also represents a growth (of 2.3%, specifically) compared to 2019. The number of policyholders grew by 0.5% and already exceeds 13 , 53 million.
The result of the insurance business grew by 14%, to 333.3 million euros, while the result of the investments fell by 3.9%, to 67.9 million euros, and the international business increased its profit by 14% , up to 20.3 million.
In a year marked by the health crisis, premium income from the non-life line grew by 2.9%, to 5,418.5 million euros. The group leads the national insurance ranking in this category. Mutua also has the first position in health insurance.
For its part, the auto branch generated 1,577.6 million in premium income (a growth of 0.9%). The group increased its market share to 14.2%, which places it in second position. In multi-peril-household income grew 2.3% to a total of 617 million and the number of insured increased 3.1%.
Regarding asset management, Mutuactivos became the independent manager with the highest volume of fund-raising, pension plans and savings insurance, by organically increasing managed assets by 609 million euros, which allowed close the year with a total managed assets of 8,452 million euros.
Grupo Mutua Madrilea closed last year with a Solvency II ratio of 304%, compared to the average of 237.7% for the sector.
The president of the group, Ignacio Garralda, highlighted that Mutua has successfully completed its Strategic Plan 2018-2020, which has been characterized by “stability” and the fulfillment of its qualitative objectives, which were to consolidate its position as Leader in non-life insurance, to be the non-bank leader in asset management in Spain through Mutuactivos, to continue with its process of geographic diversification, by products and services, and to strengthen its presence in Latin America.
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