MAPFRE, the Spanish based global insurer, has named José Carpio as the new CEO for Colombia, replacing Raul Fernandez Maseda, who is retiring after 20 years with the company. Carpio has been the CEO of MAPFRE in Mexico, and has also held responsibilities with MAPFRE Asistencia in Spain.

MAPFRE’s global president, Antonio Huertas, in the announcement made this past Monday, thanked Maseda for his two decades of service, and expressed confidence that “José Carpio’s experience will be determinant in the continuing development of our successful project in Colombia.”

MAPFRE’s annual shareholder’s meeting was held Friday of last week in Madrid, where the company reaffirmed its goal of growing internationally and diversifying. MAPFRE has the goal of having 75% of revenues coming from outside of Spain in 2020, and that life & health lines represent 35%. With only 1% of business coming via the internet, the insurer expressed the goal of increasing that to 7%.

MAPFRE currently operates in 49 countries on five continents throughout the globe. It is the market leader in Spain, a top insurer in Latin America, and one of the top ten insurers in Europe. In 2008, MAPFRE entered the US market by acquiring American Commerce Insurance Company. In 2014 policy volumes surpassed €845 million Euros.

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About the Author

Loren Moss is the founder and publisher of Finance Colombia. He has over 20 years of international business experience, including over a decade of experience in securities, insurance, and commercial real estate, at the institutional and international level.