Mapfre
| Mapfre
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|---|---|
 |
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| legal form | Corporation |
| ISIN | ES0124244E34 |
| founding | 1933 |
| Seat | Madrid , Spain |
| management | José Manuel Martinez |
| Number of employees | 37,053 (2014) |
| sales | EUR 26.367 billion (2014) |
| Branch | Financial services |
| Website | www.mapfre.es |
Mapfre is a diversified financial services group from Spain with a focus on the insurance business . The group consists of 240 individual companies that operate in 38 countries in the insurance , reinsurance , real estate , financial and other services sectors. The majority of the companies are grouped together in the Holding Corporación Mapfre, SA, whose shares are traded on the Madrid and Barcelona stock exchanges . Mapfre is represented in the IBEX 35 stock exchange index and in the Dow Jones Stoxx Insurance . The holding company is based in Madrid .
The annual report shows a turnover of 26.367 billion euros and a net profit of 845 million euros for 2014. A total of 37,053 people are employed, 9,255 of them in Spain.
Company history
In 1933, the company was founded as Mutualidad de Seguros de la Agrupación de Propietarios de Fincas Rústicas de España (in German about "Mutual Insurance Association for the Association of Farm Owners in Spain"). In 1944 an agreement was signed with the state compulsory health insurance, through which the company almost went bankrupt in 1954 due to the sharp rise in medical costs . From 1955 the company turned to new business fields. The health insurance business was completely abandoned. From 1970 the current structure developed, with auto insurance as the parent company as well as life and industrial insurance . International expansion began in 1977, and Mapfre has been the leading insurance company in Latin America since 1990 . In 2000 a strategic alliance was concluded with Caja Madrid (Sparkasse Madrid). Mafpre is in parts still organized as a Mutualidad (roughly equivalent to the German mutual insurance association ) and thus as a non-profit organization . In order to adapt the structure of the company to the requirements of the financial markets , a demutualization process was initiated that was completed at the end of 2006. Since then, the listed company Mapfre SA has been the holding company under which all of the Group's business activities are located. The reorganization has doubled its market capitalization , which gives Mapfre greater funding latitude. According to the company, this will be used to expand business in Europe, the USA and China.
In 2015 Mapfre completed the acquisition of the direct insurer Direct Line in Germany and Italy, the name of which was changed to Verti in July 2017 .
one-man business
The Mapfre Empresas is the industrial insurance subsidiary of the Group. The current head of the company is Filomeno Mira. In the 2006 financial year, Mapfre Empresas posted a pre-tax profit of € 116 million on premium income of € 1.35 billion.
sponsor
The company is a sponsor in professional sailing. The Mapfre sailed into second place in the Barcelona World Race under the Spaniards Iker Martínez and Xabi Fernández. Mapfre also sponsors the Renault works team in Formula 1.
Web links
- Official company website (Spanish)
- Information in Spanish on changing the company structure (demutualization)
- Handelsblatt from January 19, 2007, p. 25, The Spaniards attack
Individual evidence
- ↑ a b c Mapfre Summary of Annual Report 2014 , at www.mapfre.com , accessed November 20, 2015
- ↑ to the Mapfre for investors (Engl.)
- ↑ MAPFRE completes the acquisition of Direct Line in Germany and Italy . In: presseportal.de . ( presseportal.de [accessed December 20, 2017]).
- ↑ Direct Line becomes Verti - Verti. Retrieved December 20, 2017 .
- ^ Herbert Fromme: Mapfre attacks in Germany . Article in the Financial Times Deutschland on December 6, 2007.
- ↑ Renault F1 expand partnership with Mapfre - SportsPro Media. Retrieved April 12, 2019 .