Responsible for 18.5% of the premiums issued and 15.6% of the results of MAPFRE S.A., MAPFRE BRAZIL is the main operation of the MAPFRE Group outside Spain. In 2016, the volume of premiums issued by that Regional Area totaled R$17.4 billion, with a net profit of R$546.6 million.
MAPFRE BRAZIL maintains multichannel participation in the segments of Insurance, Investment, Consortia, Capitalization, Social Security and Redeemable Life Insurance, Healthcare, Support and Research and Development, with business distributed in two different businesses.
In the Insurance segment, it acts in partnership with the country’s main banking institution through the BANK OF BRAZIL AND MAPFRE INSURANCE GROUP, which guarantees it the distribution of insurance throughout Brazil from the thousands of agencies and banking points-of-service, in addition to brokers, branches and partners (retailers, dealers, financial institutions and cooperatives.
In the other segments, the Brazil Regional Area participates through MAPFRE, offering solutions in financial accumulation and services in the segments of Investment, Consortia, Capitalization, Social Security and Redeemable Life Insurance, and global support solutions, management of services and specialty risks for companies in the segments of insurance, finance, automobile, tourism and affinities. CESVI Brazil, the only research center in the automotive sector, has also been in the Region since 1994.
The size and importance of the Brazilian operation to the MAPFRE Group can be demonstrated with other significant numbers. In total, MAPFRE BRAZIL has 6,928 collaborators and a wide distribution network, made up of 28,184 points-of-service, which are 5,430 agencies, 1,738 electronic points-of-service, 838 loyal brokers (“Mais” (Plus) Brokers), 20,060 brokers and 118 branches, which make it possible to provide service to the more than 12 million policyholders throughout Brazil.
In the Insurance segment, MAPFRE BRAZIL holds 16.2% of market share, with a prominent position in the segments in which it participates:
With expertise in managing mutual funds that serve the private individual, legal and institutional segments, it showed growth of 38% in volume in 2016, closing the year with R$9.4 billion in assets under management. In the Social Security and Redeemable Life Insurance segment, it has 3.4 billion in managed assets; in Asistencia, it has 15,621 active service providers and 470 dedicated points-of-service for providing service to 40 corporate clients and 17.5 million beneficiaries with an 86% rate of satisfaction. In Healthcare, its operation is based on offering a new model of providing service focused on active participation in the daily life of beneficiaries, with an increase of 15,000 lives in the Healthcare portfolio and 35,000 lives in the dental plan in 2016.