Mutua Madrileña, S.A. also known as La Mutua, is by its joint venture with Vida Caixa, the largest

Spanish Spanish might refer to: * Items from or related to Spain: **Spaniards are a nation and ethnic group indigenous to Spain **Spanish language, spoken in Spain and many Latin American countries **Spanish cuisine Other places * Spanish, Ontario, Cana ...

insurance company Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

as both Vida Caixa and Mutua Madrileña occupy the first and third position (respectively) of the Spanish Insurance Company Ranking in 2020 by GWP (Gross Written Premium). Founded in 1930, it provides life, automobile, health, and accident insurance, as well as pension and investment funds. It has an international footprint in Colombia and Chile since 2019 with the acquisition of 45% of Seguros del Estado (Colombia) and the acquisition and control of 60% of BCI Seguros (Chile), which are the second and first biggest companies in Colombia and Chile respectively. In 2011, it bought 50% of SegurCaixa Adeslas, the leading health insurance company in Spain. With an investment of more than 1,000 million euros, the purchase became the largest bancassurance operation ever carried out in Spain.

Products

*Investment securities *

Life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

Formula One sponsorship

From the

2006 Spanish Grand Prix The 2006 Spanish Grand Prix (officially the Formula 1 Gran Premio Telefónica de España 2006) was a Formula One motor race held on 14 May 2006 at the Circuit de Catalunya in Montmeló, Spain. It was the sixth round of the 2006 Formula One season a ...

, the company sponsored the

Renault F1 The French automotive manufacturer Renault has been associated with Formula One as both team owner and engine manufacturer for various periods since 1977. In 1977, the company entered Formula One as a constructor, introducing the turbo engine ...

team. The Mutua Madrileña branding appeared on the race cars, drivers' suits and team clothing. This coincided with the company's new corporate image. After the

2007 Formula One season The 2007 FIA Formula One World Championship was the 61st season of FIA Formula One motor racing. It featured the 2007 FIA Formula One World Championship, which began on 18 March and ended on 21 October after seventeen events. The Drivers' Ch ...

, the company declared the move of the sponsorship from Renault F1 to

McLaren McLaren Racing Limited is a British motor racing team based at the McLaren Technology Centre in Woking, Surrey, England. McLaren is best known as a Formula One constructor, the second oldest active team, and the second most successful Formul ...

- Mercedes with

Fernando Alonso Fernando Alonso Díaz (; born 29 July 1981) is a Spanish racing driver currently competing for Alpine in Formula One. He won the series' World Drivers' Championship in and with Renault, and has also driven for McLaren, Ferrari, and Mi ...

. After the

2008 Formula One season The 2008 FIA Formula One World Championship was the 62nd season of Formula One motor racing, recognised by the Fédération Internationale de l'Automobile (FIA) – the governing body of motorsport – as the highest class of competition ...

, the company declared the move of the sponsorship from

- Mercedes back to Renault F1 with the return of

to Renault. During the

2009 Formula One season The 2009 FIA Formula One World Championship was the 63rd season of FIA Formula One motor racing. It featured the 60th Formula One World Championship which was contested over 17 events commencing with the on 29 March and ending with the ina ...

, Mutua Madrileña terminated its contract with Renault after the

Renault Formula One crash controversy The Renault Formula One crash controversy, dubbed Crashgate by some in the media, was a sporting scandal caused when Renault F1 driver Nelson Piquet Jr. deliberately crashed during the 2008 Singapore Grand Prix to give a sporting advantage to ...

, in which Renault was found guilty of getting

Nelson Piquet Jr. Nelson Angelo Tamsma Piquet Souto Maior (born July 25, 1985), also known as Nelson Piquet Junior or Nelsinho Piquet, is a Brazilian stock car racing driver and former Formula One and Formula E driver where he was champion in the 2014–15 seaso ...

to intentionally crash during the

2008 Singapore Grand Prix The 2008 Singapore Grand Prix, formally known as the 2008 Formula 1 SingTel Singapore Grand Prix, was a Formula One race held on 28 September 2008 at 20:00 SST at the newly built Marina Bay Street Circuit in Marina Bay, Singapore. It was the 15 ...

, to help Alonso to win the race. The company will continue to sponsor Alonso. In 2017, Mutua Madrileña was ranked 10th in the ranking published by the Merco Institute of the most responsible companies with the best corporate governance. In addition, Mutua Madrileña is the best company to work for in Spain, according to the latest annual ranking prepared by the magazine Actualidad Económica.

References

External links

Official website
{{DEFAULTSORT:Mutua Madrilena Insurance companies of Spain Companies based in the Community of Madrid Financial services companies established in 1930 1930 establishments in Spain

Products

Formula One sponsorship

See also

References

External links