Spanish market News

Spanish Bank Bankinter to Spin Off Its P/C Insurance Unit Linea Directa

MADRID – Spanish bank Bankinter said on Tuesday it cleared all regulatory hurdles to spin off its insurance unit Linea Directa and list its shares on the market in late April. Bankinter, which has secured the European Central Bank’s approval …

Berkshire Hathaway Specialty Insurance Promotes Blas to Head of Property, Spain

Berkshire Hathaway Specialty Insurance (BHSI) announced that Tomas Blas has been promoted to head of Property, Spain. Blas, who has 17 years of industry experience, joined BHSI in 2019 as head of Technical Lines in Spain. In his new role, …

BMS Buys Spanish Specialist Insurance Broker Jurado Mata

BMS Group, the independent specialist re/insurance broker, announced its Spanish subsidiary, BMS Iberia, has acquired Jurado Mata, the Granada-based Spanish specialist insurance broker. Financial details of the transaction were not disclosed. Founded in 1990, Jurado Mata has provided a range …

BHSI Expands Team in Spain, Tapping Lovera from Chubb, RSA’s Sanchez

Berkshire Hathaway Specialty Insurance (BHSI) announced two appointments in Spain, naming Alejandro Lovera as head of Executive and Professional Lines and Silvia Sanchez as head of Operations. Lovera has spent nearly 15 years in the commercial insurance industry, most of …

BHSI Taps Villalba from Zurich Insurance as Head of Claims in Spain

Berkshire Hathaway Specialty Insurance (BHSI) announced it has named Javier Villalba to its expanding leadership team in Spain as head of Claims. Villalba comes to BHSI with nearly 20 years of claims experience. He was most recently director for Expert …

BHSI Opens Office in Spain, Names Almazan from RSA as Country Manager

Berkshire Hathaway Specialty Insurance (BHSI) announced that it has further expanded its global footprint, opening a new office in Madrid, naming Ignacio Almazan as country manager for Spain. BHSI will initially underwrite property, casualty, financial lines, construction and engineering insurance, …

Santander Pays $1.1B to Replace Allianz with Aegon, Mapfre in Spain Joint Venture

Banco Santander SA agreed to pay 937 million euros ($1.1 billion) to buy Allianz SE out of an insurance joint venture in Spain, more than halving the value of the German insurer’s assets under management in the country. Aegon NV …

JLT Re Acquires JLT March Re in Spain, Launches JLT Re Iberia

JLT Re, the global reinsurance broker and consultant, announced the launch of JLT Re Iberia, which follows the acquisition of JLT March Re, the fourth largest Spanish insurance broker, from financial group Banca March. Previously, the two companies operated JLT …

Beazley Launches Suite of Financial Lines Products in Spain

Specialist insurer Beazley has unveiled a comprehensive suite of financial lines products in Spain, designed for the needs of a broad range of commercial and financial organizations. Led by Lorena Segovia, Beazley’s Spanish team of underwriters launch a set of …

XL Catlin in Iberia Taps Marsh’s Herrero as Head of Political Risk, Credit & Bond

XL Catlin’s insurance operation in Iberia announced new local underwriting capabilities with the appointment of Santiago Herrero as head of Political Risk, Credit & Bond (PRCB) – Iberia. Herrero will be based in Madrid and reports to Dan Riordan, XL …