With the new structure for its global risk business, MAPFRE is aiming to enhance its management and business capacity in this market, and move forward in the quest for the best possible service for its clients
TEXT AND PHOTOS MAPFRE
MAPFRE has adopted a new structure for its global risk business, with the aim of acquiring greater management and business capacity for this type of risks, moving forward in the quest for the best possible service for its clients and providing greater financial stability and efficiency for the Group.
Under the new scheme, MAPFRE Global Risks remains the Business Unit within the Group responsible for providing specialized, comprehensive, innovative insurance solutions to major enterprises, multinational companies and firms operating in global activity sectors.
MAPFRE GLOBAL RISKS will manage the Group’s large risks business, taking responsibility for the technical aspects, dealing with claims and providing services, always in coordination with the local MAPFRE companies. They, in turn, will undertake the sales activity and issue the risks underwritten by the Global Risks Unit, which will then be fully reinsured by MAPFRE RE.
For its part, MAPFRE RE acts as the Group’s sole reinsurer for these kinds of risks, thus increasing the size of its business and taking advantage of the greater scale of the Reinsurance Unit.
This new scenario offers clear benefits. As well as boosting the large risks business line, providing it with greater management capacity, it facilitates greater cooperation between MAPFRE GLOBAL RISKS and local MAPFRE companies, and furthers advances in the quality of service, an essential element in this client segment.