MAPFRE invests in Blue Marble
Blue Marble, the insurance company backed by a consortium of insurance organizations committed to closing the protection gap for climate-vulnerable communities, announced that MAPFRE has joined as its newest owner through an investment in the company, bringing the consortium to six organizations in its tenth anniversary year: Aspen, Grupo ASSA, MAPFRE, Marsh McLennan, TransRe, and Zurich Insurance Group.
Established in 2015, Blue Marble designs and delivers parametric insurance solutions to underserved communities in emerging markets. Its proprietary technology platform powers these solutions, enabling continuous product innovation, rapid scaling, and expansion of cover for underserved groups. The consortium works in partnership with local insurers, development agencies, and private sector actors to protect livelihoods from the increasing impacts of climate change.
“Blue Marble was founded to bring together global insurance leaders with a shared commitment to closing protection gaps for climate-vulnerable communities. Welcoming MAPFRE to the consortium strengthens both our expertise and our reach, and sets the stage for our next decade of impact and innovation.” – Penny Seach, Chair of the Board of Blue Marble.
“Joining Blue Marble is a natural extension of MAPFRE’s commitment to building resilience for communities facing the greatest climate risks. By combining our technical knowledge and global presence with the consortium’s collaborative approach, MAPFRE can scale innovative solutions where they are needed most.” – Miguel Rosa, Blue Marble Board member for MAPFRE and CEO of MAPFRE RE.
“MAPFRE’s membership is a milestone in our tenth anniversary year and a powerful signal of the growing importance of climate resilience. Over the past decade, Blue Marble has shown how global insurance businesses, working together, can launch first-of-their-kind products and bring protection to underserved communities worldwide. With MAPFRE joining, our ability to scale these innovations and close protection gaps becomes even stronger.” – Jaime de Piniés, CEO of Blue Marble.
