MAPFRE AM: MAPFRE’s asset management wing changes its name and launches a new project

MAPFRE’s investment management company has launched a new project whose objectives are to strengthen the global management of MAPFRE’s investments and prepare the plan to promote the management of third-party assets within the Group to take advantage of the commercial opportunities that arise.

The creation of MAPFRE AM seeks to expand the management company’s international presence and reinforce its visibility, in line with a global management strategy affecting the geographical presence as well as the range of products and services offered.

The MAPFRE Group boasts more than 60 billion euros on its balance sheet and a team of 150 investment specialists, and with direct management in 29 countries it aspires to become a global player in the asset management industry.

The management company launched its operations in 1990 and today manages more than 4,800 million euros on behalf of 311,000 clients.

The name change was agreed at the company’s Annual General Meeting held last April 25, and the new name was recorded in the Company Register on May 23. It will shortly be entered in the Administrative Register of the Spanish National Securities and Exchange Commission (the "CNMV") as well.

These changes are part of the Group’s strategic plan and are designed to increase the collaboration, knowledge and capabilities of our specialist investment teams in the international arena.

MAPFRE is a global insurance company present on the five continents. It is the benchmark insurer in the Spanish market, the leading multinational insurance group in Latin America and one of the top 10 insurance companies in Europe in terms of premium volume. MAPFRE employs more than 38,000 professionals and services approximately 34 million clients. In 2015 MAPFRE’s revenue surpassed 26,700 million euros, with net earnings of 709 million euros.