Chairman & CEO, Mapfre
Antonio Huertas, Chairman of Mapfre
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About Antonio Huertas
Antonio Huertas, chairman and CEO of Mapfre, announced on July 23, 2026, the signing of an agreement to acquire Safety Insurance, a company operating in Massachusetts and New England. Huertas described the acquisition as a decisive step for Mapfre in the United States, stating that it reinforces the company's presence in what he called the largest insurance market in the world and provides global scale. He said the deal allows Mapfre to invest more in the U.S., diversify with more assets and business in dollars, and accelerate growth. Huertas also reported Mapfre's financial results for the first half of 2026. He stated that the company achieved a profit of 1,313 million euros before taxes and minority interests, and 624 million euros net, with growth exceeding 9% in both figures. He attributed the results to improved profitability, efficiency, and the company's ability to create sustainable value, and named Spain, the United States, Brazil, and Mapfre itself as major drivers of growth. In his remarks, Huertas also expressed solidarity with Venezuela following recent earthquakes there.
Transcript (5 segments)
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Antonio Huertas0:00
Hello, first of all I want to send a message of solidarity, empathy and support to our brothers in Venezuela, who suffered a few weeks ago terrible earthquakes that caused an unacceptable number of deaths and extensive material damage. We will continue to support you to help rebuild your beautiful country. But let's talk now about Mapfre. The results for the first half of 2026 confirm that Mapfre is advancing strongly around the world. We have achieved a profit of 1,313 million euros before minority interests and taxes, and 624 million net, with growth of over 9% in both. And we have done this while improving profitability, efficiency and our ability to create sustainable value. Behind these figures there is something much more important: the effort of tens of thousands of professionals, the loyalty of millions of customers, and a highly diversified business model that continues to work in the most demanding environments.
Spain, the United States, Brazil and Mapfre have been some of the great drivers of this growth, but there are many countries and businesses that contribute their part successfully. We continue to improve results, strengthen solvency, and advance on all fronts. But this semester will also be remembered for a decision that is set to transform our operation in the United States. Today we have announced the signing of the agreement to acquire Safety Insurance, a great company that operates in Massachusetts and New England, the northeastern states of the United States. This is a decisive step for Mapfre in the United States because it strengthens our presence in the largest insurance market in the world, and globally because it allows us to invest more in one of the most developed and attractive countries, diversify with more assets and business in dollars, and accelerate our profitable growth, taking advantage of the enormous opportunities of this great region.
In our model, growth and doing so on solid foundations always go hand in hand. Solid and resilient growth that reinforces our long-term capabilities. And growing like this means above all adding people. With this operation, many employees, agents and collaborators will join the group who will drive our business, technology and transformation projects. These are complex and uncertain years, yes, but also exciting because of the challenges ahead. We are not only looking at the medium and long term. We are also fully committed to the present. We face the coming months with the caution that the environment demands, but with enormous confidence—the confidence that these results and the good progress of all ongoing initiatives give us. Our strategic plan is entering its final stretch in these last months, and we are convinced that we will close it with great success.
We started the year with a major project to renew our brand, giving it more visibility worldwide and adapting it to new times. And day after day we continue building a stronger, more prepared company with a very clear ambition: to create value for our customers, our shareholders and society as a whole. And we do this guided by very clear values: teamwork, constant effort, trust, commitment to others, irreproachable ethics, and continuous improvement. These are the values of all the people who make up Mapfre, and they are also the values we have seen these days in football, in the teams that competed in the World Cup, and admirably in its winner, the recently crowned champions, the Spanish national team, which, as you know, Mapfre Spain has been sponsoring, because in sport, as in Mapfre, great achievements are never the work of a single person. We are a team. When a team gives its best and exceeds the sum of its talents with commitment and confidence, there is no limit that can resist us. The Spanish team has shown this, and we congratulate them once again for their historic triumph, their second star.
And at Mapfre we are writing our own great season. That is why I want to congratulate you and thank you all. These results are yours. Thank you very much for your work. Now, in the middle of the year, many of us living in the northern hemisphere will take a few days of rest with family and friends. The greatness and diversity of Mapfre mean that we never stop. We pass the baton to each other like in a perfect relay race. Soon it will be others' turn. Happy holidays.