Mapfre is launching a major rebranding effort in Mexico, aiming to simplify its insurance products and improve user accessibility. Alberto Berges, the company’s lead executive, stated the initiative is not a response to internal crises but a strategic move to capitalize on the company’s recent growth.
“We went from 28 billion pesos in 2023 to 42.5 billion in 2025, and the objective is to reach 50 billion in 2026,” Berges said. This trajectory represents a growth of more than 50% over three years.
Financial reports submitted to the Madrid Stock Exchange show Mapfre closed 2025 with a net result of 1.079 billion euros. The company saw a 3.6% increase in premiums, reaching 29.145 billion euros. With a return on equity (ROE) of 12.4% and a combined ratio of 92.2%, the firm signals high operational efficiency.
Navigating fiscal headwinds
Despite these gains, the company’s bottom line faced pressure from changes in Mexican tax policy. Berges noted that a shift in criteria from the Tax Administration Service (SAT) regarding value-added tax (VAT) deductions for auto and medical benefits impacted the sector.
“We had a fiscal impact derived from a change in SAT criteria regarding the VAT we deducted in benefit payments,” Berges explained. “It is not something exclusive to Mapfre; it is something that happened to the whole industry.”
Market competition is driving this shift toward simpler, more transparent insurance models. Berges argued that customers no longer rely solely on traditional backing; they prioritize how easily they can understand and manage their policies.
Mapfre joins other industry players like Zurich Seguros and General de Seguros in this transition. These companies have recently updated their brand identities to eliminate the complexity that previously defined insurance offerings. By modernizing its image, Mapfre aims to maintain its market relevance and sustain its current growth momentum.
