Mapfre Re has appointed Fernando Utrilla Agüero as its new chief monetary officer (CFO) in a deliberate handover forward of the retirement of Daniel Quermia.
The Spain-based reinsurer stated its Board of Administrators accepted the transfer as a part of a succession course of aimed toward sustaining continuity within the firm’s monetary route, drawing on Agüero’s expertise inside the wider Mapfre Group.
Entry deeper trade intelligence
Expertise unmatched readability with a single platform that mixes distinctive information, AI, and human experience.
Mapfre Re is the group’s reinsurance enterprise, based in 1982.
It operates by way of 19 workplaces globally and writes enterprise in additional than 100 nations, offering treaty and facultative reinsurance throughout life and non-life traces.
Mapfre Re stated the CFO appointment “strengthens its monetary construction and ensures continuity in its highway map, leveraging Utrilla’s data of the enterprise and his profession inside the group”.
Mapfre Re CEO Miguel Rosa stated: “Daniel has made a decisive contribution to the corporate’s growth and consolidation, at all times standing out for his skilled rigour, dedication and powerful service-oriented strategy.
“Fernando takes on this duty at a key second and brings intensive expertise and deep data of the enterprise; we’ve full confidence that he’ll proceed contributing to the expansion and power of Mapfre Re.”
The management change comes because the reinsurer continues to broaden its worldwide footprint.
Earlier this 12 months, Mapfre Re obtained approval to open a department in India, including capability in what it described as one of many “world’s largest and most outward-looking insurance coverage markets”.
The authorisation was granted by the Worldwide Monetary Providers Centres Authority, permitting the department to be arrange in Gujarat Worldwide Finance Tec-Metropolis as a part of the corporate’s Asia development technique.
Individually, Mapfre Group has just lately up to date its monetary objectives, projecting a return on fairness of greater than 13% by 2026 and setting a mixed ratio goal of 93–94%.
The group famous that the targets could possibly be adjusted if inflation rises sharply.
