Mapfre Re has appointed Fernando Utrilla Agüero as its new chief financial officer (CFO) in a planned handover ahead of the retirement of Daniel Quermia.
The Spain-based reinsurer said its Board of Directors approved the move as part of a succession process aimed at maintaining continuity in the company’s financial direction, drawing on Agüero’s experience within the wider Mapfre Group.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Mapfre Re is the group’s reinsurance business, founded in 1982.
It operates through 19 offices globally and writes business in more than 100 countries, providing treaty and facultative reinsurance across life and non-life lines.
Mapfre Re said the CFO appointment “strengthens its financial structure and ensures continuity in its road map, leveraging Utrilla’s knowledge of the business and his career within the group”.
Mapfre Re CEO Miguel Rosa said: “Daniel has made a decisive contribution to the company’s development and consolidation, always standing out for his professional rigour, commitment and strong service-oriented approach.
“Fernando takes on this responsibility at a key moment and brings extensive experience and deep knowledge of the business; we have full confidence that he will continue contributing to the growth and strength of Mapfre Re.”
The leadership change comes as the reinsurer continues to broaden its international footprint.
Earlier this year, Mapfre Re received approval to open a branch in India, adding capacity in what it described as one of the “world’s largest and most outward-looking insurance markets”.
The authorisation was granted by the International Financial Services Centres Authority, allowing the branch to be set up in Gujarat International Finance Tec-City as part of the company’s Asia growth strategy.
Separately, Mapfre Group has recently updated its financial goals, projecting a return on equity of more than 13% by 2026 and setting a combined ratio target of 93–94%.
The group noted that the targets could be adjusted if inflation rises sharply.
