Spain’s Mapfre Re Joins inreon Exchange

April 3, 2002

Spanish reinsurer Mapfre Re has joined inreon, the on-line reinsurance risk trading platform founded by Swiss Re and Munich Re in December 2000, as a new member of its panel of capacity providers.

“The move further enhances the scope and quality of reinsurance cover available via the platform while providing important efficiency savings for the Spanish group,” said inreon’s announcement.

The Mapfre group is the largest in Spain with an approximate 13 percent market share and premiums of around $7.8 billion. It joins Catalana Group, Fiatc, Heath Lambert Interbroker, Seguros GES and the Victoria Group as members of inreon.

“Mapfre Re has established an impressive reputation writing business from Spain, Latin America and across the world,” Kaj Ahlmann, chairman and CEO of inreon, stated in the announcement. “The group is well known for its long-term reinsurance relationships and for providing secure, high quality cover. I am pleased to welcome Mapfre Re as an inreon member and believe we will now see further growth of online reinsurance trading in a territory that has already proved particularly active.”

Inreon is preparing to host a conference for the Spanish insurance industry at the Hotel Ritz in Madrid. The event, scheduled for April 4, will include a corporate and technical presentation of the online trading process with guests from the country’s leading re/insurers and brokers.

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