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After a positive first year of collaboration in 2017, Mapfre has agreed to renew and expand its agreement with the Renault Sport Formula One Team. The Spanish insurance company will become one of the team’s main official sponsors over the next five seasons.
The agreement, which was presented yesterday evening in Paris at a meeting between the Chairman and CEO of Mapfre, Antonio Huertas and Renault Chairman and CEO Carlos Ghosn, goes beyond a sports sponsorship; it opens the door to Mapfre and Groupe Renault exploring additional mobility solutions and services linked to the role of insurance in the future of the automotive industry.
"This agreement with Groupe Renault will allow us to further promote the Mapfre brand and its values worldwide", explained Antonio Huertas, Chairman and CEO of Mapfre. "Formula 1 is not just a competitive sport - it is also a testing ground for technological research that can then be expanded to society as a whole. This philosophy fits perfectly with our strategic position for the future."
"After a positive first season together it’s fantastic that Mapfre has made a significant further contribution to the team for the future", added Jérôme Stoll, President of Renault Sport Racing. "Mapfre is a company which is on the move and we are delighted to continue supporting their brand awareness development at a global level. Our relationship with Mapfre has highlighted the reach and potential of Formula 1 and the team and this long-term partnership is an opportunity for Groupe Renault and Mapfre to build new projects together. We look forward to continuing to push for our respective targets over the coming seasons."
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I think Renault should extend further with Le Coq aswell.