Mutua Madrileña

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.

Mutua Madrileña, S.A.
TypeSociedad Anónima
Founded1930; 91 years ago (1930)
Key people
Ignacio Garralda Ruiz de Velasco (Chairman and CEO)
ProductsLife and non-life insurance, investment funds, pensions
RevenueIncrease €5.336 billion (2018)[1]
Increase €530.643 million (2018)[1]
Total assetsIncrease €12.035 billion (2018)[1]
Number of employees
Decrease 1,900 (2018)[1]


Formula One sponsorshipEdit

From the 2006 Spanish Grand Prix, the company sponsored the Renault F1 team.[2] 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 company declared the move of the sponsorship from Renault F1 to McLaren-Mercedes with Fernando Alonso.

After the 2008 Formula One season, the company declared the move of the sponsorship[3] from McLaren-Mercedes back to Renault F1 with the return of Fernando Alonso to Renault.

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.[4]

See alsoEdit


  1. ^ a b c d "Annual Report 2018" (PDF). MUTUA. Retrieved 12 November 2020.
  2. ^ "Renault gets a Spanish sponsor" April 20, 2005
  3. ^ "Mutua Madrilena returns to Renault" February 21, 2008
  4. ^ "Mutua Madrilena terminates Renault deal". Autosport. 2009-09-24. Retrieved 2009-09-24.

External linksEdit