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Published in:
2021 | OriginalPaper | Chapter
13. The Path to Success of MAPFRE
Author : Leonardo Caruana de las Cagigas
Published in: Companies and Entrepreneurs in the History of Spain
Publisher: Springer International Publishing
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Abstract
This chapter explains the success of Mutualidad de la Agrupación de Propietarios de Fincas Rústicas de España (MAPFRE), the leading insurance company in Spain. Founded in 1933, it first developed its business in agricultural accident insurance. The nationalization of this insurance sector led the company to invest in car insurance. It became the leading insurance company in 1983. International expansion followed from 1984 onwards. Excellent management enabled MAPFRE to dominate the non-life insurance market in Latin America. In addition, it expanded to the United States, Canada, Turkey, China, the Philippines and to other European countries such as Italy, Britain, Germany and France. The last big move was the shift from a mutual company to a stock company in 2006.
