Annual General Meeting 2024

MAPFRE
Madrid 1,95 EUR 0 (0,1 %)
Madrid 1,95 EUR 0 (0,1 %)

CORPORATE|01.25.2024

MAPFRE Gestión Patrimonial expects to exceed 2 billion euros in assets under management (AUM) in three years

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  • The Insurance Group’s unit specializing in financial advice presents its new 2024-2026 Strategic Plan
  • It expects to open six more specialized offices and reach 15,000 customers and 250 financial agents

MAPFRE Gestión Patrimonial (MGP), MAPFRE’s financial advice unit, has presented its new 2024-2026 Strategic Plan, which anticipates important areas of business growth, a trend that has been maintained since the division was launched at the beginning of 2017. In terms of the volume of assets managed, MGP plans to reach 2 billion euros in assets under management (AUM) in three years, which represents over an 80% increase compared to year-end 2023 (1,11 billion).

This positive performance will be coupled with new office openings. The unit currently has 10 branches in Madrid, Barcelona, Valencia, Bilbao, Sevilla, Mallorca, Málaga, Alicante, and Zaragoza, and it plans to expand to 16 offices over the course of this period in areas with a weaker financial tradition. “Up until now, we’ve focused on providing our services in large cities, but we want to reach more corners of Spain to ensure that we’ll maintain close ties to our customers. This reflects the Group’s traditional strategy, which has the second-largest network of offices in Spain,” explained Segura. The expansion will take place in Galicia, Asturias, Castilla y León, and the Canary Islands.

In addition, the agent recruitment process will also continue, aiming to reach 250 agents by 2026. The workforce will increase by 40%, to 33 professionals. “We aim to create specialized teams of financial agents in these areas. Not only will they offer our services at the specialized offices, but also at all MAPFRE offices,” he added. All of this will help the number of customers to grow by 25%, from 12,000 to the 15,000 expected by 2026.

MGP’s customers have access to a platform offering a range of over 15,000 mutual funds from the world’s top asset managers, with the ability to underwrite, transfer, and/or redeem units in a fully dynamic environment. They can also access MAPFRE’s pension plans and savings and retirement products. Besides human capital, another pillar at the heart of MGP is technology, which several of the initiatives included in the new strategic plan are focused on.

MAPFRE Gestión Patrimonial belongs to MAPFRE Inversión, the largest securities company in Spain.