Huertas prepares Mapfre's new strategic plan, with a focus on Safety - Expansión
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The insurer will pay 200 million to BlackRock and 150 million to Vanguard for the purchase of Safety, of which they are major shareholders. Antonio Huertas, president of Mapfre, is preparing his last strategic plan at the helm of the company. One of the focuses of the new roadmap will be the US, after the purchase of the insurer Safety for 1.352 million euros. BlackRock, the firm's largest shareholder, which is listed on Nasdaq, will receive more than 200 million euros for its 15.6% stake, and Vanguard, 150 million for its 11.1% (see illustration). The new strategic plan will be applied from next January 1 to December 31, 2029. Huertas will turn 65 in January of that year, and Mapfre's bylaws set that age for the retirement from executive positions, which can be maintained on the board. The insurer's permanent objective is profitable growth in all its businesses, and this premise will shine in the plan. Safety will contribute to achieving this goal after closing its purchase in the first quarter of 2027, as planned. Before that, at the beginning of October, it will hold its shareholders' meeting to ratify the sale agreement. The US company, based in Massachusetts, will then provide the Spanish company with 140 million euros in excess capital, which Mapfre could release. This release would occur after adapting Safety's reinsurance to Mapfre's operations in this area to reduce...
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