MAPFRE Re, the reinsurance arm of Spanish insurance company MAPFRE, has announced the appointment of Chaturbhuj Bansal as head of its India unit, pending regulatory approval.
With approval from the Indian International Financial Services Center Authority (IFSCA), MAPFRE Re’s India office was established in February 2026 at the Gujarat International Financial Technology City (GIFT City).
Bansal’s appointment marks an important step in MAPFRE Re’s expansion into the Indian market, reinforcing the reinsurer’s commitment to growth in one of the world’s most dynamic reinsurance markets.
MAPFRE Re said: “This appointment represents an important milestone in MAPFRE Re’s Asia Pacific strategy and supports the company’s ambition to build a strong local presence and enhance connections with clients and brokers in the region.”
Bansal, who will be based in GIFT City, has over 16 years of experience in underwriting and risk management in the insurance and reinsurance industry, with a strong background in the Indian and Asia Pacific markets.
He joins MAPFRE Re after 13 years at major reinsurer Swiss Re. During this time, he held a number of key positions, most recently as Director and Head of Property & Casualty Treaty Underwriting Consulting, with experience working in Singapore and India.
