Mapfre’s assets under management fell by 13.3% during 2020 to €55.2bn ($66.9bn) from €63.6bn at year-end 2019. The biggest drop in exposure came from Spanish sovereigns, whose value decreased by 29.8% to €12.8bn, followed by Brazilian government fixed income, suffering a 25.7% fall to €2.2bn.
Other pains were felt in mutual funds (down 22.5%), corporate bonds (13% lower), and real estate valued at net book value (down 8%).
The only part of the group’s investment assets to receive a positive boost was ‘other investments’ (up 4.1%). These include interest rate swaps, investments in associates, accepted reinsurance deposits, among classes.
Channels:Tax/accounting
Companies:Mapfre