Spanish insurance company MAPFRE’s reinsurance branch, MAPFRE Re, has announced the appointment of Chaturbhuj Bansal as Head of its India branch, subject to regulatory approval.
MAPFRE Re’s India office was established back in February 2026, in Gujarat International Finance Tec-City (GIFT City), following approval from the International Financial Services Centres Authority (IFSCA) of India.
Bansal’s appointment marks a major step for MAPFRE Re’s expansion within the Indian marketplace, reinforcing the reinsurer’s commitment to growth in one of the most dynamic reinsurance markets globally.
“This appointment represents a key milestone in MAPFRE Re’s Asia-Pacific strategy and supports the company’s ambition to build a strong local presence, enhancing proximity to clients and brokers in the region,” MAPFRE Re stated.
Bansal, who will be based in GIFT city, brings over 16 years of experience in the insurance and reinsurance industry across underwriting and risk management, with a strong background in the Indian and Asia-Pacific markets.
He joins MAPFRE Re following a distinguished 13-year tenure at large reinsurer Swiss Re. During his time there, he held several key positions, most recently serving as Director and Head of Property & Casualty Treaty Underwriting Advisory, with experience based in both Singapore and India.
