World Insurance Report
Mapfre
Spain’s Corporacion
Mapfre and savings bank Caja Madrid have deepened their business relationship with the establishments of a mutually owned holding
company. Following approval from both companies’ boards,
Mapfre will take a controling 51% stake in the new
Mapfre-Caja Madrid Seguros. Caja Madrid will take 49%. The union will confirm
Mapfre’s status as the largest Spanish insurer.