Mapfre seeks to boost asset management unit via acquisitions – Expansion
Dec 14 (Reuters) – Spanish insurance company Mapfre plans to boost its asset management unit through acquisitions, Spanish newspaper Expansion said on Thursday, citing the unit’s Chief Executive Alvaro Anguita.
Mapfre Asset Management seeks to buy rivals that would strengthen its distribution network or boost its capacity to increase funds under management, the newspaper said.
The company’s press office confirmed Anguita’s comments.
Mapfre Asset Management has more than 40 billion euros ($44 billion) in assets under management in Europe, according to its website.
($1 = 0.9181 euros)
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