Mapfre Re boosts Asia presence with new Tokyo office

Mapfre Re is set to establish a new representative office in Tokyo, Japan with the objective of increasing its reinsurance business in the Asia Pacific region.

The re/insurer currently operates from China, Singapore, Malaysia and Philippines.

Jun Matsuoka, a re/insurance professional based in Japan, will head up the new Mapfre Re office.

“This opening allows us to consolidate even further our already close relationships with companies in the Japanese market, and clearly underscores our commitment not only to such a strategic market, but to the whole region," said Jesús Galeote, Mapfre Re's APAC regional manager.

In 2016, the company's reinsurance unit’s premiums reached €4.24 billion, with net earnings of €186 million.

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