Mapfre changes of status

The group Mapfre, the Spanish insurance leader, has relinquished its current status as a mutual to become a limited company, Mapfre Ltd., a status that allows it to better finance its international expansion plans. Set up in 1933, Mapfre is employing 25 000 people and is present in 36 countries. In 2005, its premium volume reached 10.1 billion EUR (12.7 billion USD).