Fraternidad-Muprespa holds its Ordinary General Meeting

Yesterday, July 27, the Ordinary General Meeting of Fraternidad-Muprespa in which the annual Accounts and Report corresponding to the financial year 2010 have been approved, accompanied by the audit report of the General Intervention of Social Security.

During the celebration of the General Meeting, which took place at the Fraternidad-Muprespa Central Hospital in Madrid, the President of our entity,Carlos Espinosa de los Monteros who was accompanied by the Director General Carlos Aranda, pointed out that despite the current difficult economic situation, Fraternidad-Muprespa is in a very solid financial situation, since in 2010 it has increased its results by more than 33% compared to the previous year.

Despite the fact that the Work Accident Mutual Insurance Companies have had to face a new reduction in their income caused by the decrease in Social Security affiliation, the reduction in Work Accident and Occupational Disease Rates; and that have also been affected by the budgetary limitations to which they have been subjected due to their connection to the Public Sector, the results of to 71.8 million, both figures that give an idea of the degree of solvency of our Entity.

The total income of the Mutual Fund, in 2010, corresponding to the management of the Social Security Assets, amounted to 978.73 million euros.