MAPFRE Global Risks has its origins in the unit of MAPFRE´s companies behind the merge in 2004 of the MAPFRE Industrial and MUSINI entities with the incorporation of MAPFRE caution and credit and the technical branch ITSEMAP.
In 2007 was created the representative offices in London, Paris and Colonia and in 2009 the current MAPFRE Global Risks as the MAPFRE entity specialised in Global Risks management over the world through MAPFRE entities that operates as direct insurance in 27 countries.
In 2011 was established the Representative office of Milan and SOLUNION entity.
Global Risks Project enters in a new phase in 2013, also the transformation in branches of the representative offices of London, Paris and Colonia. In this new stage, already in 2014, appeared London as a new business centre for EMEA, NORAM and APAC just as the specialty lines development.
MAPFRE is an independent Spanish business group with over 80 years of experience. It commenced operations in 1933 offering motor insurance for the Agrupación de Propietarios de Fincas Rústicas de España (A Group of Rural Landowners). Over time, and with the experience from responding to client needs and providing overall risk protection, MAPFRE became consolidated in the 70s as a trustworthy company and the leading insurance group in Spain. In the 80s, the company took its first step into the international market and began its expansion in Latin America where it would soon become the leading non-life insurer in the LATAM market.
In the 2000 decade MAPFRE ceased operating as a mutual insurer, was constituted as a Limited Company with MAPFRE S.A. as the holding company and quoted on the Madrid Stock Exchange. It appears in the IBEX 35, DOW JONES STOXX INSURANCE and MSCI SPAIN indexes, amongst others. The majority of MAPFRE S.A.'s shares are owned by Foundation MAPFRE, which ensures the Group's independence and its institutional stability.
Apart from direct insurance, MAPFRE also has a strong presence in reinsurance (MAPFRE RE), in assistance and provision of services (MAPFRE ASISTENCIA) and offers corporate solutions to companies through MAPFRE Global Risk, the largest multinational insurer in LATAM countries, leader in the Spanish market and the 6th largest non-life insurer in Europe.