Mútua Madrileña, S.A. also known as La Mútua, is by its joint venture with Vida Caixa, the largest Spanish insurance company as both Vida Caixa and Mútua 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.
|Ignacio Garralda Ruiz de Velasco (Chairman and CEO)|
|Products||Life and non-life insurance, investment funds, pensions|
|Revenue||€5.336 billion (2018)|
|€530.643 million (2018)|
|Total assets||€12.035 billion (2018)|
Number of employees
- Investment securities
- Life insurance
Formula One sponsorshipEdit
From the 2006 Spanish Grand Prix, the company sponsored the Renault F1 team. The Mutua Madrileña branding appeared on the race cars, drivers' suits and team clothing. This coincided with the company's new corporate image.
During the 2009 Formula One season, Mutua Madrileña terminated its contract with Renault after the Renault Formula One crash controversy, in which Renault was found guilty of getting Nelson Piquet, Jr. to intentionally crash during the 2008 Singapore Grand Prix, to help Alonso to win the race. The company will continue to sponsor Alonso.