Our governance is structured around principles of ethics, transparency, and social commitment to the development of society.
Ethical behavior and risk management
The protection of human rights is linked to our internal regulations, adopted at the highest level of the organization, and is expressly detailed in MAPFRE’s Institutional, Business and Organizational Principles, the Code of Ethics and Conduct, and the Sustainability Policy. In addition, we have a specific protection framework in place, namely the Corporate Human Rights Policy, approved by the Board of Directors, which applies to the entire Group and its relationships with third parties. This is reinforced through the commitments undertaken by MAPFRE through its adherence to various UN principles and initiatives.
Code of Ethics and Conduct
Our Code of Ethics sets down the guiding principles and policies that govern the company’s performance, in addition to the professional activities of those working on behalf of the company.
We are a signatory to the United Nations Global Compact, and we uphold a firm commitment to avoid bribery, extortion, and other forms of corruption, in conjunction with developing specific policies and programs that directly address the issue.
ESG risk management
We embed environmental, social, and governance issues in relation to insurance operation underwriting processes in our decision-making processes.
Data and privacy
The Corporate Security Division provides us with advanced knowledge when it comes to increasing the resilience of the company’s digital operations. More information can be found in the Integrated Report.
We have specific channels in place that anybody at the company can use to report unusual situations, ensuring maximum confidentiality at all times.
We have set up two channels:
The financial and accounting whistleblower channel
This mechanism enables employees to confidentially report any potentially significant financial and accounting irregularities they observe within their company to the Audit and Compliance Committee of MAPFRE S.A.
Ethical inquiries and complaints
The Code of Ethics establishes three channels of communication: Internet, accessible to employees and providers, available in Spanish, English, Portuguese, and Turkish; postal mail; and email. To guarantee confidentiality, the secretary of the Ethics Committee receives queries and complaints directly.