Mapfre said last Friday that it will restructure its business in the US “to optimise its profitable growth structure and concentrate the operations there in a smaller number of states.”
Mapfre has successfully placed subordinated bonds with 236 institutional investors from different European countries. The UK and Ireland took up 22% of the total issuance, France 16%, Germany and Austria 14% and Italy 13%.
MADRID | April 1, 2015 | By Fernando Barciela | The Corner caught up with Luis Iturbe, a board member with Spanish insurance giant, Mapfre. He emphasises the improving health of the Spanish banking sector, but says that the capital increases by lenders, notably Santander, have prevented the Spanish stock market to reach the same revaluations as its peers. He also states that markets in London and New York dished out an unreasonable level of punishment to the euro and Greece.