Mapfre

Mapfre Global Risks To Use London As The Cornerstone Of Its International Growth

MAPFRE GLOBAL RISKS, the business Unit of MAPFRE that specializes in providing comprehensive insurance solutions to multinational companies, plans to use its London office as a strategic base for the growth of its International global business (EMEA, North America and APAC). MAPFRE GLOBAL RISKS’s international business is expected to grow to 25% of Gross Written Premiums by 2018, from 17% today.

MAPFRE GLOBAL RISKS has been operating in the UK for the last eight years, developing a portfolio of global risks business with a focus on property lines and an increasing development of specialty lines. Alfredo Castelo, CEO of MAPFRE GLOBAL RISKS, presented the new strategy to clients and stakeholders during the company’s annual market event in London on Thursday.

“Our leadership in Spain and Latin America” Castelo said, “and our first class capacity, makes us believe that there is room in the London Market for a company like MAPFRE GLOBAL RISKS.

As part of this international strategy, Jose Antonio Ruibal has been named Head of International Underwriting, based in London. He will report to Chris Smith, who this year was appointed Chief Market Officer for MAPFRE GLOBAL RISKS International, responsible for EMEA, APAC and North America.

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