The chairmen are analyzing the enormous growth opportunities offered by the Brazilian market

The chairmen of MAPFRE, Antonio Huertas, and of Banco do Brasil, Fausto de Andrade Ribeiro, met this week in Madrid to discuss the progress of our bancassurance alliance in Brazil. For MAPFRE, this is the most important bancassurance operation in the world, and it was also an opportunity for the Brazilian delegation to learn in depth about the group’s strategy and the main projects underway.

The president was joined by the vice chairman of Digital Business and Technology for Banco do Brasil, Marcelo Calvacante de Oliveira Lima, and the chairman of BB Seguros, Ullisses Christian Silva Assis.

Also participating in the meetings on behalf of MAPFRE were, among others, Jesús Martínez Castellanos, CEO LATAM, and Fernando Pérez-Serrabona and Felipe Nascimento, Regional CEO of Brazil and CEO of Seguros Brasil, respectively. As part of the work agenda, in addition to analyzing the positive performance of our joint operations, specific meetings were held on innovation, economic outlooks with MAPFRE Economics and digital business experiences. Our Brazilian partners also had the opportunity to learn about MAPFRE in greater depth.

The agreement signed between the two entities (MAPFRE and Banco do Brasil) was launched in 2010. Banco do Brasil sells MAPFRE products exclusively through its banking channel. The premium volume of this alliance contributed 1.739 billion euros to the MAPFRE Group in 2020.

MAPFRE has been present in Brazil for three decades and has over 3,300 employees and nearly 80 offices. In addition, 16,000 brokers retail MAPFRE products. MAPFRE’s business in Brazil is the Group’s second largest and most important operation in the world.