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CORPORATE  | 23.02.2023

Bupa and MAPFRE join forces to develop health insurance in Latin America

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Alliance will start in Peru before being extended to Uruguay and Paraguay, while opportunities are analyzed in other countries in the area.

With this regional alliance, which combines the strengths and experience of both companies, Bupa, and MAPFRE will gradually increase their penetration of the region’s health markets to offer access to top-level international medical care.

MAPFRE is the largest insurer in Latin America, with a presence in 17 markets in the region.

With the ever-present objective of caring for people’s health, Bupa and MAPFRE have come together to offer international health insurance, first in Peru and, in a later phase, in Uruguay and Paraguay. The alliance that both companies have signed covers the Latin American region, so joint opportunities in other countries are also being studied. The agreement will last for 10 years, and will renew automatically for five more, as a result of the strong commitment to establish a solid and lasting relationship. The first products will begin to be marketed in March.

Through this regional alliance, Bupa and MAPFRE clients will enjoy access to the highest quality health care products and services. As part of the global offering, policyholders will be able to make use of the most extensive medical provider network through Bupa, an international healthcare company, serving more than 40 million customers worldwide.

“This alliance between MAPFRE, the number one insurance company in Latin America, and Bupa, a world leader in health insurance, is an unbeatable combination that underpins our leadership position and will allow us to expand our offering in the region through the Health line, a highly sought after product”, stated Jesús Martínez Castellanos, CEO of MAPFRE in LATAM.

“Together with MAPFRE, we are launching our offer in Paraguay, Uruguay and Peru, but we hope to expand it to other countries in the region as well to provide clients with international healthcare solutions designed to meet their healthcare needs as citizens of the world”, indicated Iñaki Peralta, CEO of Bupa Europe and Latin America. “As Bupa does around the world, we are always working to form strong alliances, advance the growth of our markets and better serve our customers,” said Peralta.

Note to editors: About Bupa and Bupa Global Latin America

Bupa Global Latin America (BGLA) is part of Bupa, a leading global healthcare company with 75 years of experience.

Bupa’s purpose is to help people live longer, healthier and happier lives and to create a better world. As the company has no shareholders, its clients are its sole focus. Profits are reinvested to provide more and better healthcare for the benefit of current and future clients.

Bupa is an international healthcare company serving more than 38 million customers around the world.

Health insurance represents the majority of Bupa’s business, contributing 71% of income. Bupa is also a healthcare provider, operating 370 clinics, 23 hospitals, around 1,000 dental centers and also professional senior care centers.

Bupa directly employs around 84,000 people, primarily in the UK, Australia, Spain, Chile, Poland, New Zealand, Hong Kong, Turkey, Brazil, the US, the Middle East and Ireland. The company also has partner businesses in Saudi Arabia and India.

BGLA has offices and operations in the area of ​​health insurance in Ecuador, Guatemala, Bolivia, the Dominican Republic, Panama, Colombia, and Chile.

As part of the One Health global initiative, Bupa was proud to launch ‘Footprints of Change’ in the region. Its Sustainability program has already been implemented in Peru, Ecuador, the Dominican Republic and Panama, with the objective of creating a positive impact on the health, nutrition and well-being of people, especially children.

For more information:

Carlos Adese

+1 (305) 282-6000


MAPFRE is a global insurance company. It is the benchmark insurer in the Spanish market, the largest Spanish multinational insurance group in the world, the number one insurance group in Latin America and the sixth largest carrier in Europe by Non-Life premium volume. MAPFRE employs more than 31,000 professionals and in 2022, the company’s revenue was almost 29.5 billion euros, with net earnings of 642 million euros.

For more information, please visit

Juan Francés

Telephone: +34 616294628