The Financial Sector M&A team at KPMG has advised Carrefour on the signing of an exclusive insurance distribution agreement with MAPFRE in Spain, marking a milestone in the integration of retail and insurance in the Spanish market.
This partnership combines Carrefour’s commercial reach with MAPFRE’s insurance expertise, enabling Carrefour to offer more personalized insurance products, providing a closer and more effective protection proposition that delivers peace of mind, simplicity, and tangible savings on shopping. For its part, MAPFRE will expand its distribution network, making a comprehensive insurance offering available to Carrefour customers as well as the over 10.5 million members of Carrefour’s loyalty program.
The cornerstone of this collaboration is the integration of Carrefour’s savings ecosystem with MAPFRE’s protection ecosystem. From now on, customers who purchase or renew policies (home, auto, health, life, and funeral insurance, among others) through the enabled channels (digital, in-store, and phone) will be rewarded with direct accumulations in their ChequeAhorro for future purchases. This model turns spending on protection into immediate purchasing power, reinforcing both companies’ positioning as allies of the family budget.
The agreement was signed by Elena Sanz, CEO of MAPFRE Iberia, and Elodie Perthuisot, CEO of Carrefour Spain.
Elena Sanz, CEO of MAPFRE Iberia, stated: “This agreement significantly strengthens our reach and distribution capabilities in partnership with a top-tier company. Moreover, it fully complements all our existing distribution channels, maximizing value creation for both companies.”
Elodie Perthuisot, CEO of Carrefour Spain, added: “This agreement goes beyond a simple partnership: it is transforming the insurance sector in retail, offering customers personalized savings that simplify and enhance their shopping experience.”
Through this agreement, MAPFRE and Carrefour combine the reach and proximity of both companies’ networks with their financial strength and expertise, ensuring access to innovative products with a service focused on excellence.
About MAPFRE
MAPFRE is the leading Spanish insurer globally. In Spain, it serves 7.4 million clients, has around 11,000 employees, and operates over 3,000 offices nationwide. .
About Carrefour Spain
Carrefour Spain is an omnichannel, multi-format, and multi-brand company, managing 204 hypermarkets, 162 Carrefour Market supermarkets, 1,161 Carrefour Express stores, and 70 Supeco stores, in addition to its online commerce channel