Poster with the new Mechanical Breakdown Warranty image designed for Latin America

page 6 / SIAM NEWS - March 2007

GRUPO MAPFRE

MAPFRE forecasts revenues of 14.5 billion euros in 2007

On 27 March MAPFRE held its first generalsharholders meeting as a public limited com-pany. During the meeting José ManuelMartínez announced the Group’s main objectives for2007, the year in which MAPFRE achieved its goal ofbecoming a public limited company, upholding the same principles of performance and responsibi-lity that it has always followed. The chairman highlighted, among others, the following challengesfor Grupo MAPFRE in 2007:

• To achieve revenues in excess of 14.5 billioneuros, 1 billion more than the figure for 2006.

• To increase the size of MAPFRE, both by meansof organic growth and through acquisitions, andto continue to further entering new markets.

• To exceed the average growth rate of the sector.

• To maintain the Group’s management capacityand corporate reputation.

José Manuel Martínez also announced that in 2007Grupo MAPFRE expects to increase revenues byover 1 billion euros to exceed 14.5 billion euros bythe end of the year. He also emphasised that thepriority strategy in countries in which Grupo MAPFRE is already present is organic developmentbased on its direct distribution network, the largestInsurance network in Spain and Latin America.However, MAPFRE will maintain a policy of acquisi-tions and business agreements with a view to com-pleting its growth and accessing new markets.

MAPFRE’s chairman highlighted some recent opera-tions: the agreements with SOCIETA CATTOLICA DIASSICURAZIONI (Italy), CAJA CASTILLA LA MANCHAand BBVA (Spain); the addition of MUTUA VALEN-CIANA (Spain); the acquisition of 80 percent ofGENEL SIGORTA (Turkey); and the recent agreementwith Bankinter (Spain) by which MAPFRE VIDA willacquire 50 percent of BANKINTER VIDA Y PENSIO-NES which, under MAPFRE’s management, will distribute its products through the bank’s commer-cial channels.

José Manuel Martínez also emphasised the impor-tance of training and seeking to attain maximumefficiency in order to exceed the average growth rateof the market, in spite of the difficulties if we consi-der MAPFRE’s current size in some markets, espe-cially Spain. To achieve this goal, two large divisionshave been created: FAMILY and INTERNATIONALDIRECT INSURANCE, maintaining the operative spe-cialisation of each Unit, which has been one of thecorner stones of MAPFRE’s success.

Finally, he stressed two aspects which are essentialfor Grupo MAPFRE’s growth: its management capa-city and corporate reputation, both of which must beincreased in order for MAPFRE to continue to per-manently expand.

Grupo MAPFRE results in 2006

In 2006, MAPFRE obtained total revenues of13,583 million euros, almost 9 percent higherthan the previous year. Insurance andReinsurance premiums amounted to almost11,000 million euros, a growth of over 8 percent.

There was a significant increase in premiumsfrom abroad, which now represent almost 40 per-cent of the total premiums and which in 2006grew at a rate of over 20 percent reaching 3,780.5million euros. Direct Insurance premiums inAmerica amounted to 2,461.7 million euros, anincrease of 26.5 percent over 2005, consolidatingMAPFRE’s position as the leading Non-Life insu-rer in Latin America.

Pre-tax and minority holdings profit stood at1,156.1 million euros, an increase of 32.6 percentover the figure achieved in 2005; and net profitreached 610.2 million euros, an increase of 33.1percent. Of this net profit, 330.2 million wereentered in the accounts by MAPFRE, S.A. (pre-viously CORPORACIÓN MAPFRE), and 280 millioncorrespond to the business included in MAPFRE,S.A. in January 2007.

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MAPFRE’S OBJECTIVES: TO INCREASE IN SIZE AND MAINTAIN MANAGEMENT CAPACITY AND CORPORATE REPUTATION.

SIAM NEWS - March 2007 / page 7

New institutional advertising campaign “Greatness is a state of mind”

This is the slogan for MAPFRE’s new institutio-nal advertising campaign. The aim of this slo-gan is to reflect the real size of the company,while also highlighting the close relationship with itsclients, its social commitment and corporate repu-tation, including the foundational activities. On 1January MAPFRE embarked on a new phase as apublic limited company, in which it aims to becomeone of the world’s leading insurance companies.

The recurring theme inthe various advertisingmaterials designed forthe press, television,radio, Internet, outdooradvertising and cine-mas is the question:“What does being agreat company mean?”Each of these elementsalso combines differentarguments (corporate,financial and social) toexplain that MAPFRE isone of the world’s lar-gest insurance compa-nies “not just because

of its size, but also because of its principlesand values, its commitment and the way itdoes things” and therefore: “greatness is astate of mind”. The campaign also aims tofurther a sense of pride among those whoform part of MAPFRE, reinforcing an inte-grated, global brand image.

Of all the materials designed, the television advertisements are particularly outstanding. Employing moreavant-garde production techniques, they use key aspects of the company’s identity (the colour red and thebridge) to symbolise the tremendous energy which epitomises MAPFRE. This is one of the most strikingpost-production effects of the various scenes filmed in Buenos Aires (Argentina) and Sydney (Australia).

page 8 / SIAM NEWS - March 2007

MAPFRE ASISTENCIA celebrated theinauguration of its subsidiary in Jordanin great style on 6 February. The com-pany organised an event at the Intercontinen-tal Hotel in the capital, Amman, which was attendedby senior management of the leading insurancecompanies in the Middle East. Also present wereManuel Lorenzo García Ormaechea, the SpanishAmbassador in Jordan; Rafael Senén, chairman ofMAPFRE ASISTENCIA; and José Manuel Martínez,director of the Regional for Asia, the Middle Eastand Africa, among others.

Future clients of the Jordanian company were ableto find out first hand what MAPFRE ASISTENCIA is,what activities it carries out and how it is positionedon the market from the company’s Chairman (whogave the welcome speech) and the general managerof the new office, Wissan H. Sawalha.

From this representative office, MAPFRE ASISTEN-CIA will carry out its personal and vehicle assistan-ce business in the area of the Near East, mainly inSyria, Lebanon, Palestine and Jordan itself. Theopening of this office represents a boost to MAPFREASISTENCIA’s activity in this part of the world andadds a new delegation to the company’s currentAsian offices in Bahrain, China and the Philippines.

The contact details of MAPFRE ASISTENCIA’s repre-sentative office in Jordan are:

Swefieh Area, Yehia Elsaraireh Str.Alfouz Bld. 1st Floor – Office nº 102P.O. Box 144 67611814 AmmanThe Hashemite Kingdom of JordanTel.: +962 6 588 5451Fax: +962 6 588 5450E-mail: wisawal@mapfre.com

Official inauguration

of the subsidiary in Jordan

NEW OFFICE IN POLAND

In the last issue of SIAM NEWS we reported on the commencement of operations in Poland, whereMAPFRE ASISTENCIA now has its own office.Situated in the capital, Warsaw, this new delegationwill mainly market Special Risk products.

MAPFRE ASISTENCIA operates throughout Europeand has its own offices in: Belgium, Italy, France,Hungary, Russia, Portugal, Greece, Germany,Ireland, United Kingdom, Luxemburg and Poland.These subsidiaries enable the company to offer anenhanced service to local and international clientsand to extend its business in each country.

The current contact details for MAPFREASISTENCIA’s delegation in Poland are:

MAPFRE ASISTENCIAPl. Pilsudskiego, 300-078. VARSOVIAPOLONIA

Wissan H. Sawalha (left), Rafael Senén, José Manuel Martínez and OmarBaba, general manager of GULF ASSIST

NEWS

MAPFRE ASISTENCIA is already present in 40 countries. This year

it expects to open new offices in:Egypt, Algeria, India, Libya and Dubai

The Chartered Insurance Institute,CII, of the United Kingdom hasawarded its official accreditationto the MAPFRE ABRAXAS e-learningprogramme for its vehicle dealer net-work, for its contribution to continuingprofessional development. This is thefirst time this award has been made inthe British motor sector.

The e-learning programme for vehicle dealer net-works forms part of the IT and services solutionswhich MAPFRE ABRAXAS offers its partners, rela-ting to finance and insurance systems and regula-tory compliance.

With 90,000 members, the CII is the world’s largestprofessional organisation for those working in theinsurance, savings and financial services sectors. It

works to promote higher standards of competenceand integrity through the provision of training andqualification to employees at all levels and in allsectors of the industry.

Tamsin Mills, Director of the CII’s Accreditation andConsulting Services said: “recent reports drawn upby the British Government confirm that a globalincrease in qualification of workers in the UnitedKingdom is a key objective. We should congratulateMAPFRE ABRAXAS on this initiative, which hasincreased the technical know-how and understan-ding of insurance-related matters of its commercialpartners, in relation to the distribution of productssuch as GAP, Warranty, PPI and MOT Insurance. Aswell as demonstrating the company’s commitmentto improving training, it also enables it to offer con-sumers a better service”.

EL SALVADOR ASISTENCIA continues to extendits participation in the Clínicas Naranja (medi-cal center), a medical assistance project whichforms part of the Tarjeta Naranja programme inwhich the company is a strategic partner and colla-borator. In addition to the four assistance services italready provided (medical advice, ambulance dis-patch, medical visit and visits to the programme’sclinics) our company in El Salvador is now responsi-ble for the new Dentistry and Paediatric specialitieswhich have been greatly welcomed by its patients.

In addition to a basicpatient diagnosis, theDentistry specialityincludes an educatio-nal module on dentalhygiene, as one of theobjectives of theClínicas Naranja is tohelp raise awarenesson health mattersamong the country’sless privileged social

classes. The paediatric servi-ce is provided once a week bya paediatrician.

These new specialities areoffered at the San Salvadorclinic, situated in the capitalcity. The other three clinicswhich form part of the pro-gramme are in the cities ofSanta Ana, Sonsonete andSan Miguel. In 2006 the fourclinics also offered a seriesof sessions on medical spe-cialities including, amongothers: Gynaecology, InternalMedicine and CardiovascularMedicine (see SIAM NEWS25) in which checkups were offered by the participa-ting doctors. These sessions commenced in 2007with Dentistry.

SIAM NEWS - March 2007 / page 11

MAPFRE ABRAXASAccreditation of the British CII

EL SALVADOR ASISTENCIA includes Paediatricsand Dentistry in the Clínicas Naranja

SIAM NEWS - March 2007 / page 13

VENEASISTENCIA

8th PROVIDER CONVENTION

On 9 December VENEASISTENCIA gatheredtogether its most important asset, its provi-ders, at the San Carlos International RacingTrack where, for a fewhours, they set asidetheir uniforms to takepart in go-kart andmotorcycle competi-tions.

At the end of the competitions therewas an exhibition ofthe various roadsideassistance vehicles of VENEASISTENCIA,the country’s leadingroadside assistancecompany: from towtrucks, to the vehicles

and motorcycles of the Loss Appraisal departments,Ambulances and Mediphone Advance Units, all bea-ring signage with the company’s new logo.

The day ended with the presentation of prizes to thecompetition winners and plaques and diplomasawarded to the year’s most outstanding providers.

ISO 9001:2000 CERTIFICATION

In December VENEASISTENCIA signed the secondfollow-up audit of its quality management systemwith the certification company Bureau Veritas.This audit ratifies its first year under the ISO9001:2000 standard in the design and marketing oftelephone assistance products and services for tra-vel, home and medical services, as well as the pro-vider management processes required in assistanceservices.

ANOTHER YEAR AT THE FUN RACE

For the fourth year running, VENEASISTENCIAparticipated in the Fun Race competition, anextreme event for 4x4 vehicles held every yearin various parts of the Venezuelan rainforest. VENEASISTENCIA provided its tow truck units toresolve anyincident suffe-red by theparticipatingvehicles.

SIAM NEWS - March 2007 / page 17

Mechanical Breakdown Warranty nowhas its own image in Latin America

WARRANTY NEWS

FOR CLIENTES

The Mechanical Breakdown Warranty brand nowhas its own corporate and commercial imagefor the Latin America region. It has been desig-ned by the MAPFRE ASISTENCIA InternationalCommercial & Marketing Directorate, who workedin continuous collaboration with the managers of theLatin America Regional involved.

The new logo, which will head the various adverti-sing and marketing actions carried out by the LatinAmerican companies from now on, is a simple grap-hic design consisting of a front view of a car and thename of the product, making it simple to identifywhat the product is, what it offers or what it consistsof and who it is aimed at.

This corporate logo will also be inserted in the newcommercial and marketing materials that have beendesigned for client dealers and end clients (vehiclepurchasers). For the first group these include,among others: posters (two versions), a sticker, lea-flet and the hook for the vehicle rearview mirror. Forthe end client the image has been prepared for theconditions, the leaflet and their container or “takeone” and for vehicle stickers.

MAPFRE ASISTENCIA has been marketing theMechanical Breakdown Warranty in Latin Americasince the middle of last year and with this project thecompany aims to identify the product as a unique pro-duct throughout Latin America, attaining customerloyalty with a simple, modern and recognisable image.

Stickers

Hook

Leaflet

Stickers

Leaflet

FOR DEALERS

SIAM NEWS - March 2007 / page 45

Some films whose first and second versionswere great box-office hits return to the scre-ens in 2007, together with a full-length featurefilm of that television family from Springfield. Inchronological order this year’s releases are:Spiderman 3 and Pirates of the Caribbean 3: AtWorld’s End, in May; Ocean’s Thirteen, Shrek theThird and Fantastics 4 in June; Harry Potter and the

Order of the Phoenixand The Simpsons inJuly, which close thefirst half of the year.

Our literary recommendation in this issue ofSIAM NEWS is Orhan Pamuk, who on 10December, coinciding with the anniversary ofthe death of Alfred Nobel, founder of the NobelPrizes, was awarded the Nobel Prize for Literatureby the Swedish Academy in recognition of his lite-rary achievements and his commitment to humanrights.

Orhan Pamuk is one of the most outstanding con-temporary Turkish novelists. His work has beentranslated into 34 languages and published in a hun-dred different countries. Pamuk, regarded by criticsalongside authors such as the Argentinean JorgeLuis Borges and the Italian Italo Calvino as one ofthe great authors of the 20th century, reached inter-

national fame at the beginning of the nineties thanksto two works: The Black Book (1990) and TheAstrologist and the Sultan: East and West in theOttoman Empire (1991). His first novel, Mr. Cevdetand His Sons (1982), won the Orhan Kemal NovelPrize in 1983.

In addition to these novels, Pamuk has publishedNew Life (1994), My Name Is Red (2002) and Snow(2004). His latest work, a book on Istanbul, hasended up as an autobiography, with which he hasfulfilled his “unquestionable destiny”: to write aboutthe city he has lived in since he was born, combiningsignificant elements of memoirs, thoughts and phi-losophy, the result of which is Istanbul: Memoriesand the City.

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Mus

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This year’s music scene sees many new relea-ses, including new albums from Annie Lennox,Linkin Park and Avril Lavigne. Annie Lennoxreturns with an album, although the date is yet to beconfirmed, which includes a duet with the recentlydeparted godfather of soul, James Brown.

Mike Shinoda, the vocalist of the hit rock groupLinkin Park, with two albums now under their belts,has announced that they will be releasing a newalbum in mid 2007, for which they have chosen oneof the most famous music producers, Rick Rubin.

The Canadian Avril Lavigne is already working on anew album which she plans to release in April 2007.It will include songs written by the singer of MyHappy Ending.

Linkin Park, Avril Lavigne yAnnie Lennox, some of thenew releases

Orhan Pamuk, Nobel Prize forLiterature 2006

MISCELLANEOUS

Over two hundred photos were entered inthis second edition of the competition.

Congratulations to you all and thank youfor taking part!

SPECIAL MENTIONMi mundo sin fronterasAuthor: Maria Silvina Gardella Palomar, of Viajesmapfre.com

2nd SIAM Photography Competition

FIRST PRIZEBoat on Hong Kong HarborAuthor: Rick Cassity, of ROAD AMERICA

SECOND PRIZELe scale della vita

Author: Mancin Daniele, of MAPFRE WARRANTY Italy

THIRD PRIZELa nostalgia de una gran vidaJosé Luis Narváez Ponce, of MÉXICO ASISTENCIA