MAPFRE Mexico has been awarded, by national public tender, the comprehensive policy with a premium exceeding 546 million dollars (approximately 499 million euros), which covers direct physical damages to all Pemex assets on land and sea, as well as general third party liability arising from business operations. The two-year policy covers all platforms, refineries, petrochemical complexes, gas processing plants, and all other facilities of the Mexican oil company. With the awarding of this contract, MAPFRE positions itself as the leader in the property line in Mexico.
The Chairman and CEO of the company, Antonio Huertas, announced at the last Annual General Meeting a plan to expand the MAPFRE branch network in Mexico, recruit new mediators, and create a specific network for personal risk. Mexico is a strategic market for MAPFRE and is a key country in the LATAM North region, which includes the Dominican Republic, Nicaragua, Honduras, El Salvador, Guatemala, and Costa Rica.
Jesús Martínez Castellanos has called this operation “the most important policy on the Mexican market and, by premium volumen, one of the most important in the world. It strengthens our position as undisputed leaders in the Property line in Mexico and demonstrates MAPFRE’S capacity and great strength”