Ejemplo de Aplicación de la Quinta Fase de

enVIRonMenT

One of the ways that MAPFRE builds trust among its stakeholders is by promoting the creation of a sustainable environment in which to conduct its activity. In 2014, the Group undertook new pledges by changing and updating its Corporate Environmental Policy, defining new environmental guidelines that had not been considered before, for example, climate change management and biodiversity preservation. The aforementioned pledges include the recent approval of the corporate Strategic Plan for Climate Change and Energy Efficiency which establishes different areas of action in the short, medium and long-term. These are aimed at reducing greenhouse gas emissions by 20 percent by 2020 (in relation to levels in 2013).

In relation to the environmental dimension, MAPFRE focused on transparently displaying its environmental performance under aspects considered material both at the internal and at the stakeholder level, and on reinforcing its global commitment in this dimension. The strategic environmental and energy management model (SIGMAYE) continued to expand internationally, with new ISO 14001 certificates awarded to companies in Brazil and Mexico, joining the companies in Colombia and Puerto Rico and the 23 HQ buildings with IS0 14001 certificates, and 6 with ISO 50001 certificates for energy management, based in Spain.

45 Annual Report 2014 • ConsoLIDATeD MAnAGeMenT RePoRT 2014 / BUsIness PRoGRess AnD ResULTs

MAPFRE also contributed to environmental protection through its products and services, by managing environment risks in underwriting and technical assistance processes for its insurance policies, including environmental criteria in corporate procurements processes and by marketing products and services that promote environmental protection and efficient resource usage.

MAPFRE’s corporate commitment to the environment and sustainability is apparent in that it is a signatory to the “Climate Disclosure Project” (CDP) and the United Nations “Principles for Sustainable Insurance”, and through its membership of the Green Growth Group. This Group was set up recently by the Ministry of Agriculture, Food and Environment with the purpose of driving policies toward a low-carbon economy.

Further information on the Group’s environmental policy and activities are set out in its Corporate Social Responsibility Report.

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The chart below shows the headcount at the end of 2014, compared with the headcount for the previous financial year.

NUMBER

SPAIN OTHER COUNTRIES TOTAL Categories 2014 2013 2014 2013 2014 2013 EXECUTIVES 491 472 1,009 920 1,500 1,392 SUPERVISORS 1,167 1,153 2,864 3,206 4,031 4,359 TECHNICIANS 6,257 6,094 7,946 8,998 14,203 15,092 ADMIN. ASSISTANTS 2,743 2,784 14,576 12,653 17,319 15,437 TOTAL 10,658 10,503 26,395 25,777 37,053 36,280

MAPFRE promotes a work environment based on trust and mutual commitment, which allows for the professional and personal development of all its employees and which is stable and secure and free of offenses, exploitation of any nature, intimidation, assault and discrimination.

It also has a Code of Ethics and Conduct that must be observed by everyone in the company, irrespective of their activity or geographical location. This code can be viewed on the intranet and the corporate website and establishes a channel for queries and complaints for employees.

The Group has defined selection criteria that are integrated in a globally-applied policy that promotes equal opportunities and guarantees objectivity and non-discriminatory practices in every process. The tools and selection tests that are used throughout the world have been homogenized in order to incorporate to each position a candidate with most appropriate profile for it.

There is also a commitment to include employees with disabilities to the workforce, promoting their professional and personal development and their quality of life. The Global Disability Program was commenced in 2014, being implemented in 22 countries.

In Spain, the Group has a protocol to ensure compliance with the number of positions set aside for people with disabilities to ensure and oversee that this legal requirement is met. In addition, in compliance with alternative measures provided for in this legislation, in 2014 MAPFRE made endowments to and executed agreements for the provision of services or goods with special employment centers to the amount of 416,619 euros, and with foundations to the amount of 968,904 euros.

Strategic reflection seminars

The following table shows the main management ratios:

EXPENSES(1) _{CLAIMS RATIO}(2) _COMBINED(3)

2014 2013 2014 2013 2014 2013 IBERIA 21.1% 20.6% 74.0% 72.0% 95.1% 92.6% LATAM NORTH 35.4% 31.1% 59.6% 63.3% 95.0% 94.4% LATAM SOUTH 33.3% 32.4% 65.5% 67.3% 98.8% 99.7% BRAZIL 32.9% 39.1% 60.2% 56.7% 93.1% 95.8% EMEA 27.1% 30.3% 68.4% 69.4% 95.5% 99.7% NORTH AMERICA 27.6% 27.6% 74.4% 72.8% 102.0% 100.4% APAC 27.5% 31.0% 65.3% 72.0% 92.8% 103.0% MAPFRE RE 28.6% 31.4% 64.5% 65.1% 93.1% 96.5% MApFRE, S.A. 27.7% 29.1% 68.0% 67.0% 95.7% 96.1%

(1) (Operating expenses net of reinsurance + profit sharing and returned premiums - other technical revenues + other technical expenses / Premiums booked net of reinsurance. Figures relating to Non-Life insurance.

(2) (Claims ratio for the year net of reinsurance + change in other technical provisions) / Premiums booked net of reinsurance. Figures relating to Non-Life insurance.

(3) Combined ratio = Cost ratio + Claims ratio. Figures relating to Non-Life insurance.

Issues relating to the environment

and employees

enVIRonMenT

One of the ways that MAPFRE builds trust among its stakeholders is by promoting the creation of a sustainable environment in which to conduct its activity. In 2014, the Group undertook new pledges by changing and updating its Corporate Environmental Policy, defining new environmental guidelines that had not been considered before, for example, climate change management and biodiversity preservation. The aforementioned pledges include the recent approval of the corporate Strategic Plan for Climate Change and Energy Efficiency which establishes different areas of action in the short, medium and long-term. These are aimed at reducing greenhouse gas emissions by 20 percent by 2020 (in relation to levels in 2013).

In relation to the environmental dimension, MAPFRE focused on transparently displaying its environmental performance under aspects considered material both at the internal and at the stakeholder level, and on reinforcing its global commitment in this dimension. The strategic environmental and energy management model (SIGMAYE) continued to expand internationally, with new ISO 14001 certificates awarded to companies in Brazil and Mexico, joining the companies in Colombia and Puerto Rico and the 23 HQ buildings with IS0 14001 certificates, and 6 with ISO 50001 certificates for energy management, based in Spain.

MAPFRE believes that employee training is essential, and it therefore ensures the training necessary for employees to perform their duties is available so as to increase their versatility and employability in different departments of the company. This is why it has career and professional development plans, a global mobility policy, and a global training model, via the Corporate University.

In 2014 the Group invested 15.9 million euros in training, equivalent to 1 percent of compensation paid. Investment in training has increased 21.6 percent over the past three years. In its Code of Conduct and Ethics, MAPFRE has committed to the provision of safe and healthy workplaces, thereby guaranteeing its workers’ right to protect their health and integrity, going beyond its own work environment and involving the family of the employee. In 2014, the healthy company model was defined, based on the guidelines set by international bodies such as the World Health Organization and the European Occupational Health and Safety Network. To promote employee professional and personal

development, MAPFRE has an active and structured policy which promotes a work-life balance for employees and increases employee satisfaction and commitment in relation to the company.

Corporate volunteer work is becoming one of the Corporate programs that is having the greatest impact on society, where the spirit of solidarity of MAPFRE stakeholders is channeled, with employees being the main participants, through social activities coordinated by the company, and where the initiatives proposed by the workers are of great relevance. MAPFRE has 2,462 volunteers around the world and has a Global Volunteer Work Program, which gives guidelines for carrying out local plans.

In 2014, with a view to evaluating the Group’s work climate, surveys were conducted in some of MAPFRE’s main countries, for example, the Great Place To Work (GPTW) which measures employee satisfaction and commitment. This took place in 27 countries and 22,324 employees took part in it.

The “MAPFRE and its Employees” section of the Social Responsibility Report includes extensive information on the Group’s Human Resources policy and activities.

LIQUIDITY AnD