MAPFRE

MAPFRE is a Spanish multinational insurance group founded in 1933 as a mutual cooperative for agricultural landowners. Today the company is one of the world's largest insurance groups, operating across 38 countries on five continents and serving more than 30 million customers. MAPFRE is the non-life market leader in Latin America and ranks among the top non-life insurers in Europe. The MUFG Group holds a significant stake; MAPFRE trades on Spain's IBEX 35 stock index.

In 2024, MAPFRE delivered record net income of EUR 902 million (up 30% year-over-year) on total written premiums exceeding EUR 28B. The non-life combined ratio improved to 94.4%, with the company's 2024-2026 strategic plan targeting a 94-95% combined ratio and 11-12% average ROE. Solvency II capital adequacy stands at approximately 205% -- well above the regulatory minimum.

MAPFRE's global operations span personal lines, commercial lines, life and health, reinsurance (through MAPFRE Re), financial services, and roadside/travel assistance (through MAWDY). The company has pursued active digital transformation, establishing a dedicated AI center with 115 active use cases, and works with 150+ insurtech startups globally. As the first IBEX 35 company to publish an AI Manifesto, MAPFRE is positioning technology as a core competitive differentiator.