The new division will administer global programmes for large commercial clients

Mapfre has announced the creation of a new unit to handle global insurance programmes for large commercial clients.

Mapfre Global Risks will manage international insurance programmes for multinational clients, mainly from the energy, aviation and marine sectors.

Andrés Jiménez, chief executive of Mapfre’s international unit, announced the company’s commitment to join the small group of global operators at an international conference in Barcelona.

The company said in a statement: ‘The internationalisation of the Global Risks Business is a strategic initiative for Mapfre and means a further step in the Group’s commitment as a global insurer.’

Mapfre has operated in the commercial insurance segment since 1990. It created a global risks division in 2004 which mainly handled business for Spanish multinationals and their overseas assets, mainly in Latin America.

In 2007 Mapfre extended its scope to European corporates by opening representative offices in London, Paris and Cologne. Finally, in 2008 Mapfre Global Risks was spun off as an independent company.

Mapfre has developed an international network in 58 countries.