Spanish reinsurer MAPFRE RE has revamped its organizational framework to better align with its “strategic objectives.” This reorganization, which took effect on March 1st, places an emphasis on the growth of its life insurance sector. The company aims for a more defined strategic, commercial, and technical direction, alongside strengthening its connections with clients and brokers.
This updated structure is designed to enable MAPFRE RE to respond swiftly to shifting client and market demands. As part of these changes, Javier San Basilio has been appointed as the new general manager. With this role, Basilio will oversee regional divisions and nurture the company’s relationships with major clients and brokers.
The reinsurer has outlined that its non-group operations are now divided into two main segments: non-life underwriting and life business. Carmen Bueso will lead the non-life underwriting area as an assistant general manager, while Maite González will take charge of the life business, which also encompasses life, health, and accident sectors.
Ricardo Pérez is stepping into the role of manager for the Iberia and Latin America regions, and will also join the management committee of MAPFRE RE. The reorganized company now functions through four regional divisions: Pérez in charge of Iberia/Latam, Javier Sánchez Cea leads the Asia-Pacific region, Mark Meyerhoff oversees EMEA, and Carlos Sanzo manages North America operations.
Fernando Utrilla remains at the helm of the business operations rooted in the MAPFRE Group. Additionally, a fresh division focusing on strategy, communication, sustainability, and innovation has been created, spearheaded by Juan Satrústegui, aiming to deliver a cohesive vision of these key areas.
CEO Miguel Rosa highlighted: “This restructuring enables us to advance with increased agility and determination in executing the MAPFRE RE strategy. We’re gearing up for more ambitious challenges ahead, while continuing to expand our non-life services and paving the way for significant progress in our life insurance offerings.”
Making strides in December 2024, MAPFRE RE launched its inaugural catastrophe bond valued at $125 million (€120.98 million), intending to safeguard against catastrophes such as tropical storms and hurricanes impacting the US.
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