MAPFRE RE has recently opened two new branches in Asia, specifically in Labuan (Malaysia) and Singapore, with the aim of strengthening its reinsurance business in Asia.
The Malaysia branch has been operational since early this year, while the one in Singapore was authorized to provide its services in September. These two new offices are in addition to the other two that already existed in the region (Manila and Beijing).
According to Pedro de Macedo, Chairman and CEO of MAPFRE RE, ‘our desire to be a global reinsurer close to its clients and the volume of business that the Asia Pacific region already entails for us, more tan justify these new openings. We think we can contribute to the region capacity and quality of service, which characterize us in other regions of the world where we have leading positions.’
The person responsible for both new branches will be Andrés Lorenzana, who will lead a team of professionals in coordination with the headquarters in Madrid and the Regional Management for MAPFRE RE APAC, led by Jesús Galeote.
