MAPFRE invests in Blue Marble and strengthens the global consortium to protect communities vulnerable to climate change

With this investment, MAPFRE becomes the sixth shareholder of the consortium, joining a group of leading insurers seeking to reduce the protection gap in the emerging markets.

Blue Marble, founded in 2015, celebrates its tenth anniversary with the incorporation of MAPFRE to its select group of shareholders, which includes Aspen, ASSA Group, Marsh McLennan, TransRe and Zurich Insurance GroupThe company specializes in designing and offering parametric insurance solutions, which are automatically triggered when certain predefined conditions are met, such as rainfall intensity or wind speed, without the need for traditional claims adjustments.

Blue Marble's patented technology platform enables these solutions to scale rapidly, facilitating coverage for small farmers, workers, and small and medium-sized businesses (SMEs) On Africa, Asia and Latin AmericaThe consortium works closely with local insurers, development agencies, and private stakeholders to protect livelihoods from the growing impacts of climate change.

A new era of collaboration and impact

MAPFRE's investment strengthens the consortium's commitment to climate resilience. Michael Rose, CEO of MAPFRE RE and new member of the board of directors of Blue MarbleMAPFRE highlighted the synergy between the two organizations: “Joining Blue Marble is a natural extension of MAPFRE’s commitment to strengthening the resilience of communities facing the greatest climate risks. By combining our technical expertise and global presence with the consortium’s collaborative approach, MAPFRE can scale innovative solutions to where they are most needed.”

MAPFRE becomes the sixth shareholder on the 10th anniversary of Blue Marble

For its part, Jaime de PiniesThe CEO of Blue Marble considers MAPFRE's entry a "milestone" that underscores the growing importance of climate resilience in the insurance sector. "With MAPFRE joining, our ability to scale these innovations and fill protection gaps is strengthened," he stated.

In its first decade of existence, Blue Marble has launched and expanded insurance programs in 16 countries, benefiting hundreds of thousands of people. Its model demonstrates that public-private collaboration can not only close protection gaps but also simultaneously drive commercial viability and social impact.