Press Release: Renault Sport Formula One Team is proud to announce that Spain’s leading insurance company, Mapfre, will join the team as a partner.
The Mapfre brand will appear on the livery of the team’s 2017 challenger, the R.S.17, which will be launched in London tomorrow, February 21.
As well as being Spain’s leading insurer, Mapfre has over 37 million clients worldwide with more than 37,000 employees based in Europe, Latin America and the USA.
Cyril Abiteboul, Managing Director, Renault Sport Racing: “I’m very pleased that Mapfre is making its Formula One debut with us. Mapfre is targeting expansion on a global level and our F1 team is an excellent platform to reach this objective. Mapfre is a great brand with a solid understanding of sponsorship; it is well equipped to add value to their partnership with us. We hope to reward them in 2017 with a strong step forward in performance. Finally, historical affinities between Renault, F1 and Spain are once more alive thanks to this partnership.”
Ignacio Baeza, Mapfre ‘s Vice Chairman: “At Mapfre we are targeting expansion of our global presence, so this exciting new partnership with Renault Sport Formula One Team provides a perfect synergy for us. Mapfre is a company with global solutions so our support of the team in Formula 1 enables us to promote our brand values worldwide, in an effective manner. Renault Sport Formula One Team has a plan for long term growth with ambitious targets on track, and this mirrors our approach in the insurance industry. We are very excited with our expectations of the team’s new car and the season ahead. Finally, the partnership is an opportunity for us to get closer to Groupe Renault and to cooperate on innovative insurance solutions at a time when the automotive industry is more and more connected and close to its customers.”
Mapfre is a global insurer present on the five continents. The company does business in over 100 countries, and employs more than 37,000 people worldwide. It is the benchmark insurer in the Spanish market, has operations in practically every country in Latin America – where it is the leading multinational insurer – and is one of the 10 largest European insurance groups in terms of premium volume.
More than 37 million clients place their trust in Mapfre, which in 2016 generated net earnings of more than 775 million euros (+9.4%) on revenues of 27.1 billion euros (+1.5%).