Reinsurance News

Mapfre

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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