Madrid, (EFE).- The president of Mapfre, Antonio Huertas, assured this Tuesday that Brazil could surpass Spain “in a few years” as the main market for invoicing of the insurer, due to the volume of population and the presence of Mapfre in all the states of the Latin American country.
“You have to think that if things went well, as we hope they will, and there are no other intermediate crises, that Brazil could surpass Mapfre Spain in billing in a few years,” Huertas predicted during his speech at the conference organized by the newspaper Five days to celebrate its 45th anniversary.
Huertas has highlighted the results of Mapfre in Brazil, where it has had an alliance with Banco do Brasil since 2010, and its reputation is “comparable” to that of the company in Spain.
In this sense, Brazil’s contribution to Mapfre’s premiums reached 20% at the end of 2022, after registering a growth of 45% compared to the previous year.
The positive evolution of Brazil was maintained in the first quarter of the year, with premium growth of 21.5% to reach 1,198 million euros.