Mapfre reveals new reinsurance CEO amid sweeping overhaul to adapt
Spanish carrier Mapfre has streamlined its structure with a series of leadership changes, including appointing a new reinsurance CEO, in a move it says will “better align the company to the changing and complex environment it operates in”.
José Manuel Inchausti has been appointed first vice chairman of the Group, replacing Ignacio Baeza, who is retiring but will retain non-executive positions in the company.
All the geographical areas of Latin America (Brazil, LatAm South-Center and Mexico) together with EMEA, and Mapfre Global Risks will be integrated into a new unit called international insurance, headed up by Eduardo Pérez de Lema, current CEO of Mapfre Re, who will also lead Mapfre Global Risks.
Miguel Ángel Rosa (pictured), current CEO at Verti Germany, has been named new CEO of Mapfre Re, replacing Pérez de Lema.
Mapfre said, with these changes, it aims to “protect its leadership positions” in most markets by adapting its strategy. It said the current “unstable” and unpredictable market needs simpler and more flexible structures that bring the business to the fore.
"We are laying the foundations of the company for the next 10 years," said Antonio Huertas, chairman and CEO of Mapfre.
"Everything we have achieved so far, especially financial strength, service excellence and proximity to the client, the focus on people and the reinforcement of our ethical commitment and values, will be maintained as essential and differentiating elements of MAPFRE. But the environment has changed, and we are going to move forward with a new, simpler road map that gives us the flexibility and ability we need to continue holding leadership positions in the group's main markets."
Mónica García Cristóbal, head of transformation at Mapfre in Spain, will replace Ángel Rosa as CEO of Verti Germany.
José Manuel Inchausti, current CEO of Mapfre Iberia and third vice chairman, will Ignacio Baeza on the board. Fernando Mata will continue as CFO and member of the board of Mapfre and is appointed third vice chairman.
Elena Sanz has been appointed CEO of Mapfre Iberia (Spain and Portugal). Jesús Martínez Castellanos will serve as deputy CEO of Iberia and as new CEO of Mapfre Vida (Spain).
The current group chief investment officer, José Luis Jiménez, joins the finance area as deputy CFO and will also continue as the most senior executive with responsibility for global investment management.
Raúl Costilla, current CEO of Mapfre Vida, and who has extensive experience in the insurance business both in Spain and overseas, has been appointed group chief business officer, the corporate area tasked with directing the group's sales and technical strategy globally.
Furthermore, the corporate structure is simplified by integrating people, strategy and sustainability into a single area that will be headed up by Alfredo Castelo, current group chief business officer. Juan Carlos Rondeau will continue leading the corporate people and organisation area.
José Luis Gurtubay will take over the corporate internal audit area from March 31, 2024, replacing María Luisa Gordillo, who will retire on that date.
Alberto Berges has been named CEO of Mapfre Mexico. In Brazil, Felipe Nascimento will remain in charge. Óscar Celada, who transfers from Mapfre in Spain, has been appointed deputy CEO of business at Mapfre Seguros in Brazil, while Nelson Alves moves from MAPFRE Asistencia (MAWDY) to become deputy CEO of Finance and Business Support at Mapfre Seguros.
Additionally, in the Dominican Republic, a single CEO has been appointed for the two operations in the country, namely Andrés Mejía. Eva Tamayo, current regional general manager for the Canary Islands, has been designated CEO of Mapfre in Chile.
In Panama and Central America, Óscar Ortega, who has headed up the business in Chile until now, will be the new CEO.
In total, more than 15 senior Mapfre executives have been appointed or have changed positions in the Group.
All of these appointments will take effect on January 1, 2024, except for that pertaining to internal audit.
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