ABSTRACT
The present chapter focuses on the international expansion of the Spanish insurance company MAPFRE. The company started expansion in the reinsurance market and in the direct insurance market in the 1980s. MAPFRE first expanded in Latin America because Latin America is culturally close to Spain and there was low-key competition. Then MAPFRE started operating in the United States, Europe, Turkey, and China. As a result of its successful expansion, high levels of efficiency, networking, and cultural ties were developed abroad – 70% of its business in 2015.
