Insurance Post

El Salvador - Mapfre plans to open new offices

Mapfre La Centroamericana - the group's subsidiary - has been opening branches in the main cities in an effort to fight low insurance penetration, as only 8% of the population has some type of insurance policy.La Centroamericana's expansion moves will end this year with 16 offices in El Salvador, where Mapfre's premium income is EUR15m, 0.7% more than in the first half of 2004. Profits have increased by 30%, reaching EUR1.3m."We are already seeing the results of the territorial expansion pla