The consulting firm KKS Advisors, has just published the results of a test it conducted among companies comprising the S&P 500 and FTSEuroFirst indices. the study is very timely in terms of economic consequences of COVID-19. MAPFRE appears in the first quartile of the ranking, which groups together those companies that were awarded the highest scores.
In the ranking, the speed at which businesses responded to the crisis carries a high weighting. MAPFRE launched a coordinated action based on several objectives and made a single commitment covering all countries. Firstly, it chose to protect people — including employees, collaborators and clients — and their health. The company triggered its business continuity plan in all countries and units, enabling approximately 90 percent of employees to work from home, protecting their health and the health of intermediaries and clients. At the same time, essential services were maintained for policyholders via the company’s extensive provider network. Secondly, the Group committed to protecting its business: it assessed the risks arising from the crisis, safeguarding the balance sheet and preserving its capital and liquidity. A total of 115 million euros was allocated to support the SMEs and independent business owners in Spain. Finally, it maintained its firm corporate commitment to helping society. Together with the social welfare projects conducted by Fundación MAPFRE, more than 200 million euros was mobilized in the form of donations, grants and additional funding. Details of all of the measures taken by the Group since the start of the crisis can be found here: https://www.mapfre.com/en/covid-19/
When it comes to sustainability, MAPFRE has been firmly committed to people and the planet for more than 80 years, helping to construct the business fabric of the countries where it operates. In fact, the group included the concept of sustainability in its statutes on June 10, 1965, in what it called Corporate Social Responsibility and today is ESG. MAPFRE’s Chairman and CEO, Antonio Huertas, recently demonstrated his support for the United Nations and inclusive multilateralism by signing an ambitious Statement for renewed global cooperation, a milestone that coincides with the 75th anniversary of the UN and through which he commits to demonstrating ethical leadership, implementing inclusive strategies based on the values of the 2030 Agenda and working in partnership with governments, businesses and civil society in order to contribute to a more inclusive, equitable and sustainable world.
MAPFRE has also turned its attention to socially responsible investment. In 2017, it signed up to the United Nations Principles for Responsible Investment (PRI). For more than three years now, the company has been designing new products for its clients—mutual funds in particular, through its asset management arm, MAPFRE AM—that satisfy these principles and comply with ESG criteria. One of the most recent examples, and related to the implementation of measures to combat COVID-19, is a 50-million-euro fund created at the end of April in conjunction with the Community of Madrid to provide health care assistance. In addition, the Group’s asset manager launched the MAPFRE AM Inclusion Fund at the end of last year, which invests in companies that promote the inclusion of people with disabilities.