Mapfre Re opens a subsidiary in Beijing

Mapfre Re has been granted the approval of the Chinese supervisory authority (CBIRC) for the establishment of a subsidiary in Beijing. The new entity will have a share capital of 500 million CNY (74 million USD).

Ignacio Rodríguez Arteche has been appointed General Manager of the Spanish reinsurer's Chinese subsidiary.

Mapfre Re, the reinsurance entity of the Mapfre group, has been present for several years on the Chinese market where it has maintained relationships with several local companies. In 2015, the company opened a representative office in Beijing.