MAPFRE reorganizes its territorial structure; Nikos ANTIMISSARIS will head the new EURASIA Regional Area's operations

MAPFRE Group will reunite its Europe (except IBERIA), Middle East and Africa operations with its Asia-Pacific starting January 2018 under a new unit called EURASIA Regional Area, the Group has announced on the occasion of its 3Q results presentation.

The EURASIA Regional Area will be headed up by the current CEO of EMEA, Nikos ANTIMISSARIS, while the current CEO of APAC, Leire JIMENEZ AYESA, has been appointed CEO of the Insureandgo and Abraxas businesses in the United Kingdom. Abraxas is Asistencia's UK subsidiary, and Insureandgo is MAPFRE's leading online travel insurance business in the country.

The company also announced the creation of a new sub-region in its LATAM North Regional Area, to cover all of MAPFRE's activities in Central America (Panama, Honduras, El Salvador, Guatemala, Costa Rica and Nicaragua) and the Dominican Republic. The new sub-region will be based in Panama.

MAPFRE will also reorganize its business in the U.S.A. by concentrating its business in fewer of the country's states: Massachusetts, Connecticut, Rhode Island, New Hampshire, Maine, Vermont, Ohio, California, Oregon, Washington and Idaho. It will also continue operating in Florida, Pennsylvania and Arizona, but first needs to reinforce its underwriting and distribution base before embarking on future expansion plans. On the other hand, MAPFRE will cease insurance operations in five states: New York, New Jersey, Kentucky, Tennessee and Indiana. 

"This reorganization is part of the company's strategy of profitable growth to improve the Group's efficiency and profitability", the CEO of MAPFRE's International Area, Jaime TAMAYO, said.

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