THE MUTUAL COMPANIES WILL INCOME 3,255 MILLION EUROS INTO THE SOCIAL SECURITY PROFESSIONAL CONTINGENCY FUND.

Madrid on June 9, 2015. The Mutual Insurance Companies are going to pay, on an extraordinary basis, 3,254.98 million euros into the Social Security Professional Contingencies Fund, before the end of July 2015.

This important economic contribution of the Mutual Funds has been possible thanks to the application of private management techniques, in the field of public Social Security benefits in which they collaborate, which has led to these private, non-profit Business Associations, having constituted a very important level of reserves, charged exclusively to business contributions.

This contribution is motivated by the changes produced in the recent reform of the regulatory framework of the Mutual Insurance Sector, where new limits have been established on the mandatory reserves that these business organizations must have, to address possible inequalities that may occur in the economic results generated between the different years.

Without prejudice to the above, it should be noted that the Mutual Funds collaborating with Social Security are the only entities in the System that, during the years that the crisis has lasted, have made contributions to the Social Security Funds. The amount of these contributions amounts to 3,961.67 million euros, which have been used to help pay pensions.

Specifically, charged to the results of the years 2008 to 2013, the Mutual Insurance Funds paid 2,888.22 million euros into the Prevention and Rehabilitation Fund, and 1,073.45 million euros into the Social Security Reserve Fund.

The contribution of Mutual Insurance Companies to the Social Security Funds is the result of the excellence with which, year after year, these Entities have been collaborating, from the private sphere, in the management of the public benefits entrusted to them, motivated by the continuous improvement of their procedures, processes and tasks carried out in their daily work, which allows them to offer care of the highest quality, personalized and efficient, aimed at a complete recovery of the health of workers, saving costs for companies and helping the sustainability of the Social Security System, thanks to the economic surpluses derived from its management.

Mutual Insurance Companies, as Collaborating Entities with Social Security, have the trust of practically all Spanish employers, since more than 1,390,000 companies, 98.45% of the total, have chosen to voluntarily cover with a Mutual Insurance Company the Professional Contingencies of more than 12,400,000 workers.