Specialized business units: our most global facet

At MAPFRE, we put forward four strategic units: the insurance unit, which we all know, and three specialized units that we will describe today. We want you to better understand our global vision and our commitment to always protect policyholders, regardless of their profile. Thanks to these units, we are present in the reinsurance sector, major risks, and assistance.

Business units are crucial for MAPFRE. They allow us to segment and manage operations efficiently, focusing resources and efforts on market areas that require greater specialization. Let's look at the function of each one.

Let's start with our reinsurer, MAPFRE RE, and a bit of context. Reinsurance is a contract by which an insurance company transfers part of the risks it has assumed to another company, called the reinsurer, with the aim of improving its capacity to cover, stabilizing its results, and protecting itself against extraordinary losses. That is to say, it is "the insurance of insurance." This is how the risks are distributed and liability is reduced in the event of a claim. To this end, we have a global company with 18 offices scattered around the world, from which it operates in more than 100 countries.

MAPFRE RE has been increasing its relevance within the MAPFRE Group since its creation. This is fundamentally due to a strategy based on diversification, technical discipline, and a vocation for global service. Other reasons that have contributed to its good development are that it establishes long-term relationships with clients, has a great capacity to adapt, and possesses financial strength and a strong technical reputation.  

We can currently say that it is a pillar for MAPFRE, with a reinsurance business premium volume that in 2024 stood at 6.5625 billion euros, and a profit of 285.6 million, 32.6% more than the previous year. MAPFRE RE is the 16th largest reinsurer in the world. What’s more, it provides a fundamental service and fundamental capacity for the other companies of MAPFRE by reinsuring the Group's own business.

This business unit has a clear objective: to provide insurance solutions to large corporations, multinational companies, and companies in global business sectors. It was established in 2009 with a premium volume of about 840 million euros which, after 16 years, has reached 1.82 billion euros.

And the truth is that MAPFRE Global Risks has been exceeding its business forecasts for five years and is a cornerstone of the group. Not only for its contribution to results, but also for the proximity it offers to multinational companies around the world and the added value it brings to MAPFRE’s offering.

MAPFRE Global Risks is a highly specialized unit that, thanks to its underwriting and risk engineering teams, supports companies in managing their international programs and captive companies in key sectors such as marine and aviation transport, construction and large infrastructure, energy facilities, industries, global employee benefit programs, and more.

As part of its commitment to excellence and innovation, its growth plans include an expanding presence in Latin America—in countries such as Brazil and Mexico—as well as in other markets like Europe, the U.S., and Canada, while exploring new opportunities and developing new lines of business.

MAPFRE Worldwide Digital Assistance, known as MAWDY, is the Assistance Unit of the MAPFRE Group. It specializes in digital distribution models with partners to which it provides services and solutions that complement their offerings and go beyond insurance. It is, on many occasions, the point of contact with the customer (the tow truck that picks up a car after a problem or the doctor who handles a medical emergency while traveling), for which it has a wide network of providers with quality of service as its main focus.

MAWDY is a strategic ally of more than 600 companies with which it works through agreements, providing assistance and protection in areas such as auto, home, travel, health, and SMEs. MAWDY solutions help to digitize and innovate partner companies in their relationship with customers, with cutting-edge digital tools that also drive products to market.

These partners come from many different sectors, including the financial, automotive, utilities, tourism, or retail sectors, in addition to the insurance. Currently, MAWDY has a presence in 23 countries, mainly in Europe and Latin America, with a revenue volume of nearly 500 million euros in 2024.

These three strategic units are a great example of MAPFRE's commitment to diversification. They represent our most international and specialized side that goes beyond traditional insurance. Added to this, they complete our offering as a global company with the best solutions and strengthen our positioning where we operate.