Reorganization of the MAPFRE Latam territorial structure

MAPFRE’s Executive Committee recently approved a new organizational structure for the Insurance business unit in LATAM, with a view to simplifying the structure, increasing efficiency, taking advantage of synergies between the different countries and adapting to the specific nature of each of them. Given the importance of the market to MAPFRE, Brazil remains a regional area, while Mexico, on account of its growing weight and development potential, is now considered a strategic country and no longer belongs to the regional area. The other 15 MAPFRE countries in Latin America, which until now were organized into two structures, LATAM North and LATAM South, now form a single area known as LATAM South-Center, whose headquarters will be located in Panama and which will be headed up by CEO Renzo Calda (current Regional CEO for LATAM South). The new Area, as is the case of Brazil and Mexico, will report to LATAM CEO, Jesús Martínez Castellanos.

This new regional area will be responsible for coordinating the application and implementation of global corporate policies, promoting the implementation of different projects and defining plans and promoting business development, seeking maximum efficiencies in the region. It will also coordinate, in cooperation with the corporate areas, the implementation of management, operational and business models that are required in each of the countries, as well as the adoption of special measures, when required, as well as ensuring technical control of risks and profitability in each of the countries and promoting the application of good practices in the region.

Furthermore, with a view to enhancing efficiency, specialist technical hubs will be created with a flexible structure that allows them to quickly adapt to business developments and to support product launches, technical control, and portfolio definition. In 2023, the hubs are expected to include autos, property & casualty and reinsurance and for the life insurance business.

MAPFRE recently appointed Pablo Jackson Alvarado as CEO of MAPFRE Peru and Rafael Prado González, as CEO of MAPFRE Colombia. Pablo Jackson Alvarado, currently the CEO of MAPFRE Colombia, takes over as CEO of MAPFRE Peru from Julián Trinchet, who joins MAPFRE España. Rafael Prado González has served in Peru as CFO-Vice Chairman of Finance at RIMAC, Seguros y Reaseguros.