Mapfre - Spain

Spain

1933. The Agrupación de Propietarios de Fincas Rústicas de España creates MAPFRE.

1944. An agreement is signed with the Caja Nacional del Seguro Obligatorio de Enfermedad.

1954. MAPFRE close to bankruptcy due to increase in the pharmaceutical services.

1955. Ignacio Hernando de Larramendi takes over the General Management and puts the company back on its feet. Sickness insurance is dropped.

1962. MAPFRE acquires Central de Obras y Créditos which operates a network of financing companies throughout Spain.

1966. Nationalisation of workmen's compensation insurance. Legal separation and separation of assets of MAPFRE MUTUALIDAD and MAPFRE MUTUA PATRONAL de ACCIDENTES de TRABAJO.

1970. MAPFRE becomes an insurance group with the mutual company as the parent company (motor insurance) and two subsidiaries MAPFRE VIDA (personal insurance) and MAPFRE INDUSTRIAL (other branches).

1975. FUNDACIÓN MAPFRE is created. MAPFRE SERVICIOS de REASEGURO is set up.

1977. Acquisition of Mundial de Inversiones which becomes MAPFRE INTERNACIONAL, grouping together foreign investments.

1981. Central de Inversión y Crédito becomes CORPORACIÓN MAPFRE.

1982. MAPFRE CAUCIÓN Y CRÉDITO is set up.

1983. MAPFRE is ranked as the number one insurance company. MAPFRE GUANARTEME and FUNDACIÓN GUANARTEME are created. The CENTRO DE INVESTIGACIÓN Y SEGURIDAD VIAL MAPFRE (Cesvi), today CESVIMAP, is set up.

1984. SISTEMA MAPFRE is created. The Comisión de Defensa del Asegurado (Ombudsman Committee for the Insured) is set up.

1985. Mutualidad Agropecuaria joins the Sistema as MAPFRE AGROPECUARIA.

1988. MAPFRE RE, MAPFRE ASISTENCIA, MAPFRE INVERSIÓN and MAPFRE VIDA PENSIONES are set up. The MAPFRE VIDA, MAPFRE MEDICINA and MAPFRE ESTUDIOS foundations are set up. International expansion of MAPFRE ASISTENCIA commences.

1990. Julio Castelo is appointed chairman of MAPFRE MUTUALIDAD. BANCO MAPFRE commences operations. MAPFRE SEGUROS GENERALES is created. MAPFRE becomes the leading insurance company in Latin America.

1998. The first framework agreement with Caja Madrid is signed. MAPFRE INTERNACIONAL becomes MAPFRE AMERICA and MAPFRE AMERICA VIDA and MAPFRE AMERICA CAUCIÓN Y CRÉDITO are created.

2000. The strategic alliance between MAPFRE and Caja Madrid is signed. MAPFRE MUTUALIDAD acquires MAPFRE AMERICA VIDA. The good governance code is introduced.

2001. Jose Manuel Martínez becomes the new chairman of SISTEMA MAPFRE. MAPFRE SEGUROS GENERALES acquires Grupo Finisterre.

2002. MAPFRE MULTICENTRO DEL AUTOMÓVIL, MAPFRE RENTING and CLUB MAPFRE DEL AUTOMÓVIL are set up. MAPFRE VIDA becomes the leading Spanish insurance company. A new management team takes over at MAPFRE.

2003. The merger between MAPFRE MUTUALIDAD and MAPFRE AGROPECUARIA is agreed. SEPI awards MUSINI S.A. and MUSINI VIDA to MAPFRE.

2004. MAPFRE ratified the United Nations Global Compact. MAPFRE acquires a mayority stake in QUAVITAE.

2005. MAPFRE renews its management structures. MAPFRE acquires ENKEN SERVICIOS DE PREVENCIÓN and ENKEN ASISTENCIA SANITARIA. Viajesmapfre.com is created.

2006. MAPFRE approves a new corporate structure, by which all activities will be integrated in the new MAPFRE S.A.. the listed company.

2007. MAPFRE AUTOMÓVILES integrates MUTUA VALENCIANA AUTOMOVILISTA. Agreements with CAJA CASTILLA LA MANCHA, BANKINTER and CAJA DUERO for jointly development of the Life assurance products Pensions Plans.

2008. MAPFRE's Shareholders Meeting approves the reorganization of the strategic alliance with CAJA MADRID. MAPFRE increased in 2008 its net result 23.2%, to €900.7 million.

2009. In 2009, MAPFRE increased its attributable result a 2.9 per cent to €926.8 million.

2010. A ppointment as member of the Board of Directors of MAPFRE S.A. of Rodrigo de Rato Figaredo. Alliance with CAIXA CATALUNYA, CAIXA MANRESA and CAIXA TARRAGONA to jointly develop said Savings Bank's Insurance and Pension plans businesses.The Group announced that a reorganisation of structures will be undertaken to improve efficiency and enhance the configuration as a multinational group.MAPFRE increased revenues 8.7 per cent to €20,470.8 million in 2010 and the net attributable result amounted to €933.5 million.

2011. Agreement between MAPFRE and CAJA MADRID by which the savings bank will acquire of the 48.97% stake that MAPFRE holds in BANCO DE SERVICIOS FINANCIEROS CAJA-MADRID-MAPFRE, and MAPFRE will acquire the 12.5% shareholding held by the savings bank in MAPFRE INTERNACIONAL. The Chairman, José Manuel Martínez, and the Vice-Chairman, Andrés Jiménez, announce their retirement in the first months of 2012. Antonio Huertas, current Third Vice-Chairman, will become Chairman in March after the next annual general meeting is held. MAPFRE'S net result amounted to €963 million, a 3.2% rise, achieving revenues of €23,530 million, a 15% increase.

2012. Agreement with BANKINTER to jointly develop Commercial, Health, Burial, Payment Protection businesses.

Antonio Huertas takes on MAPFRE's Chairmanship.

The Board of Directors appointed Esteban Tejera Montalvo, First Vice-Chairman; Antonio Núñez Tovar, Third Vice-Chairman; and Ignacio Baeza Gómez, Fourth Vice-Chairman. Esteban Pedrayes Larrauri has been appointed member of the Board of Directors. Rodrigo Rato resigns as Member. MAPFRE achieved in the first half of the year revenues of €13,140.9 million, 13% more than the same period of the previous year. Its attributable result amounted to €434.2 million. José Antonio Moral Santín resigns as Member of the Board. José Ignacio Goirigolzarri Tellaeche and Manuel Lagares Gómez-Abascal are appointed Members of the Board.