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Mapfre to buy 38.9% stake in Spanish insurtech Tuio
The deal will fund Tuio’s expansion beyond Spain into Latin America and Europe, with Mapfre describing the investment as a push toward AI based distribution.
Mapfre has agreed to acquire a 38.9% stake in Spanish insurtech Tuio, a digital insurance distributor that uses advanced technology and is built around what the company describes as AI maturity, according to Reinsurance News.
The acquisition is structured through a direct purchase of shares from certain shareholders, followed by participation in a capital increase. Tuio, which operates in Spain, plans to keep building its advanced digital model and to expand into new markets across Latin America and Europe, where Mapfre already has a presence.
Both companies said the transaction reflects Mapfre’s view that AI, including agentic AI, could drive a technological transformation across insurance and the broader digital economy. Reinsurance News also highlighted Tuio’s earlier integration of its insurance app with ChatGPT for product sales, saying it has generated more than 20% of new clients since the integration in early February.
The companies added that the investment supports Tuio’s growth plans in Spain and supports its international expansion, pairing technology with what they describe as the value of human guidance in distribution.