Investments
As of December 31, 2021, investments amounted to Ps.20,618 million, 15.9% higher than the Ps.17,793 million recorded at the end of 2020. At year-end 2021, the investment balance consisted primarily by Ps.10,164 million in government securities and Ps.4,271 million in equity instruments.
Cash
Given the nature of Grupo Peña Verde’s business, as well as its capital efficiency strategy (through which the Company invests in various debt securities), the cash balance was Ps.176 million at the end of 2021 vs. Ps.356 million at the end of 2020.
It is important to mention that, given the nature of the Company’s business, this change is not highly significant for the analysis as it could be for companies in other sectors.
Assets
The Group’s assets increased 10.2%, from Ps.26,255 million at the end of 2020 to Ps.28,935 million at the end of 2021, driven mainly by the increase in investments (+15.9%).
Technical Reserves
Following the increase in the reserves for catastrophic risks (+14.9%) and for outstanding claims (+14.7%), technical reserves reached Ps.18,769 million at the end of 2021, 14.9% more than the Ps.16,336 million obtained at the end of 2020.
Reinsurance and Rebonding
The reinsurance and rebonding account went from Ps.3,195 million as of December 31, 2020 to Ps.3,162 million at the end of 2021 (-1.0%), mainly due to the increase in General de Seguros’ business portfolio.
Liabilities
In line with the growth in technical reserves, the Group’s liabilities increased 10.5% vs. 2020, reaching Ps.24,082 million.
Shareholders’ Equity
Supported by the positive result for the year, shareholders’ equity increased 8.6% to Ps.4,853 million as of December 31, 2021, compared to Ps.4,468 million at the end of 2020.