Mapfre has agreed to acquire a 38.9% stake in Tuio, a Spanish digital insurance distributor, through a share purchase and participation in a capital increase. The financial terms were not disclosed, and the deal remains subject to regulatory approvals. Tuio, founded in 2021 and currently operating only in Spain, plans to use the investment to fund international expansion into Europe and Latin America starting next year, regions where Mapfre already has a presence. Mapfre said Tuio was the first insurtech to fully integrate into ChatGPT, which now generates more than 20% of its new clients, and that the investment would accelerate technological development and support expansion.
MapfreMapfre acquires 38.9% stake in Tuio, expanding its digital insurance presence.
Tuio receives investment to fund international expansion and technological development.