The Board of Directors of Mapfre S.A. met this week in Brazil for the first time in the Group’s history. Brazil is Mapfre’s second largest insurance market behind Spain, having contributed a net result of 268 million euros in 2025.

Among other matters, the Board analyzed the Group’s performance during the first quarter of the year, in which 311 million euros in earnings were posted with a premium volume exceeding 8.4 billion euros.

The Board members also had the opportunity to gain an in-depth understanding of the operation in Brazil and meet with the main executives of the different Mapfre units in the country.

Additionally, a meeting was held with Delano Valentím de Andrade, CEO of BB Seguridade, the subsidiary of Banco do Brasil with which Mapfre maintains its largest insurance partnership worldwide.