Spanish insurer MAPFRE Group has a new CEO for its North America arm, eight months after the changing of the guard was first announced.
Alfredo Castelo is now president and CEO of MAPFRE U.S.A. Corp. and MAPFRE North America region. He replaces Jaime Tamayo who was promoted to CEO of MAPFRE’s international territorial area in May 2016.
Castelo has been with MAPFRE since 2004, when he joined the company as a deputy manager in the MAPFRE Industrial General Management arm. He’s held various executive level positions in the company since then.
In a prepared statement, Castelo said he looks forward to his new position, with a continued goal of meeting “the needs of our customers through our diverse insurance products.”
Castelo added “we are a company that builds trust among employees, customers and partners, and we will continue to do that through social responsibility, sustainability and transparency.”
When Castelo and Tamayo’s promotions were announced in May, MAPFRE gave Tamayo credit for expanding the insurer’s U.S. presence from tiny in 2008 to more than $2.3 billion in revenues in 2016. He also helped MAPFRE become the biggest auto, homeowners and commercial auto insurer in Massachusetts, and expand its property/casualty business presence in 19 states, the insurer said.