20 November 2017Insurance

Mapfre Re boosts Asia presence with new Tokyo office

Mapfre Re is set to establish a new representative office in Tokyo, Japan with the objective of increasing its reinsurance business in the Asia Pacific region.

The re/insurer currently operates from China, Singapore, Malaysia and Philippines.

Jun Matsuoka, a re/insurance professional based in Japan, will head up the new Mapfre Re office.

“This opening allows us to consolidate even further our already close relationships with companies in the Japanese market, and clearly underscores our commitment not only to such a strategic market, but to the whole region," said Jesús Galeote, Mapfre Re's APAC regional manager.

In 2016, the company's reinsurance unit’s premiums reached €4.24 billion, with net earnings of €186 million.

Don't miss the latest industry news - Sign up to our free email newsletters

UK motor insurance market faces ‘strong’ profit boost in 2018

Lloyd’s trials live data for vessel insurance

Insurtech Zego secures £6m to insure gig economy

Hurricanes flatten Sompo results

Skuld key executive steps down

MS Amlin records $780m nat cat losses

RFIB holding reveals new chief financial officer

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
9 February 2018   Spain-based Mapfre has reported natural catastrophe losses of €183.8 million for 2017, of which €58.2 million were absorbed by Mapfre Re.
Insurance
25 January 2018   The German branch of Mapfre Global Risks has poached an expert in engineering insurance from Allianz Global Corporate & Specialty.
Insurance
4 December 2017   Spain-based Mapfre will pay out more than €1.1 billion to its clients in relation to the natural catastrophes occurred in the third quarter of 2017 and has announced a reorganisation of its international business and a reduction of its US presence.