Mapfre Re opens new Munich office

The Spanish reinsurer said it needs to be closer to its clients • Hannover Re sells US primary unit Praetorian Financial

Mapfre Re, the reinsurance arm of Spanish insurance group Mapfre, has opened a new branch office in Munich to manage its business in Germany and Austria. The office will also cover the rest of Central and Eastern Europe. The aim is to be closer to clients in these countries, and to offer them better service, the company said.