Reinsurance News

Mapfre

MAPFRE RE first to form onshore reinsurance alternative in Vermont

9th January 2019

Global reinsurer MAPFRE RE, has become the first Affiliated Reinsurance Company (ARC) to form in the U.S state of Vermont following 2018 legislation introduced as a response to the Base Erosion Anti-Abuse Tax (BEAT). The BEAT initiative was introduced to tackle a perceived overdependence on offshore reinsurance companies and applies to ... Read the full article

MAPFRE to make €25m insurtech fund investment

22nd November 2018

Spanish insurer MAPFRE has pledged a €25 million (US $28.5 million) investment in the Alma Mundi Insurtech Fund, with the aim of identifying early stage startups whose technology can be applied to the insurance sector. MAPFRE’s role as an anchor investor means it will play a key role in in the ... Read the full article

Mapfre and AgriTask launch digital claims system for agricultural insurers

14th August 2018

Spanish insurer Mapfre has partnered with AgriTask, an international precision agriculture provider, to develop a digital claims management system for insurance companies operating in the agricultural sector. The new system integrates relevant geographical information of plots covered by insurance and correlates inspection protocols to the actual location of all policyholders, providing ... Read the full article

MAPFRE restructures Global Risks reinsurance under MAPFRE Re

20th July 2018

Spanish insurer MAPFRE is to implement a restructuring of the way it handles its Global Risks large client insurance business and its reinsurance business, including an integration of its Cologne Global Risks office into its branch in Munich, from January 2019. Under plans laid out today, MAPFRE Global Risks will underwrite ... Read the full article

Reduced exposure to volatile lines to improve earnings visibility: J.P. Morgan

4th July 2018

Analysts at J.P. Morgan have said that the decision of some re/insurers to reduce their exposure to more volatile lines of business, namely natural catastrophe exposures, and focus on other, more stable classes, will lead to better earnings visibility as well as a faster rerating. Focusing mostly on the actions taken ... Read the full article

MAPFRE and Banco do Brasil update insurance business alliance

27th June 2018

Spanish insurer MAPFRE has formally updated its strategic alliance with Banco do Brasil, which originally gave rise to BB MAPFRE in 2010, now one of the largest insurance groups in Brazil. Under the terms of the updated agreement, MAPFRE will increase its control of BB MAPFRE’s Non-Life business from 50% to ... Read the full article

MAPFRE announces cat losses and restructuring plans

1st December 2017

MAPRE has revealed plans to reorganise its global business structure, and has also reported a net income impact of €176 million (US$209mn) from a total of €1.1 billion (US$1.3bn) in payouts from claims from third-quarter hurricanes in the U.S. and Caribbean, and the Mexico earthquakes. Speaking at MAPFRE’s second Investor Day, MAPFRE Chairman ... Read the full article

MAPFRE RE strengthens Asia presence with Tokyo office

20th November 2017

MAPFRE RE plans to strengthen its Asia presence with a new representative office in Tokyo, to be led by Jun Matsuoka, a Japan-based re/insurance veteran. MAPFRE RE’s APAC regional manager, Jesús Galeote, said; “this opening allows us to consolidate even further our already close relationships with companies in the Japanese market, ... Read the full article

Mapfre acquires stake in responsible investment asset manager

7th November 2017

Spain domiciled insurer Mapfre has acquired a 25% stake in French responsible investment manager, La Financiere Responsable (LFR), a strategic agreement that provides the latter with access to Mapfre's global network while enhancing the insurer's responsible investing. The agreement combines Mapfre's long-term commitment to corporate social responsibility with LFR's proprietary tools ... Read the full article

MAPFRE expects $150-200m blow due to recent catastrophes

26th September 2017

The aggregation of losses from recent natural catastrophe events will blow an estimated $150 to 200 million hole on MAPFRE’s 2017 net result and have caused the firm to re-examine whether it can reach its annual target profit. MAPFRE had set its average Return On Equity at an average 11% and ... Read the full article

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