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Mapfre CEO acknowledges growth in Portugal through acquisitions

Mapfre CEO acknowledges growth in Portugal through acquisitions

“This year we will see what new opportunities we will have to make acquisitions,” revealed Luis Añola, CEO of Mapfre in Portugal. A strategy shared by the company's global CEO.

Mapfre Portugal CEO Luis Añola admitted in an interview with Jornal Económico that growth in Portugal (where the Spanish insurance giant has just 3% of the market share) could include acquisitions.

Asked whether Mapfre, the largest company in Spain, had no intention of growing in Portugal through acquisitions, Luis Añola said: “We are growing strongly in Portugal, we recorded an 18% production growth last year.” “In the non-life sector, we achieved growth of 27%, which is the highest growth among companies in 2023,” the CEO noted.

He added: “We are growing organically, but we are always analyzing the market to make acquisitions. We have studied in the past and continue to study acquisition opportunities, which is always the fastest way to grow.” The CEO even said, “We analyzed many opportunities but did not realize any of them,” adding, “This year we will see what new opportunities will arise for us to make acquisitions.”

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