Global insurer MAPFRE today announces that Carlos Díaz Gridilla will replace Alfredo Muñoz, general manager of MAPFRE Inmuebles (Estate), who is retiring. The insurer’s volume of real estate assets under management exceeds 3.2 billion euros.

MAPFRE has appointed Carlos Díaz Gridilla, current assistant general manager at the insurer’s real estate subsidiary, MAPFRE Inmuebles (Estate), as general manager. He replaces Alfredo Muñoz, who is retiring. The appointment will take effect on May 1.

Carlos Díaz Gridilla has a degree in Sales Management and Marketing from ESIC Business and Marketing School and also received an MBA from the Florida Atlantic University. He joined MAPFRE in 2016 as an expert manager in real estate investment at MAPFRE Inversión (Investment) and currently serves as assistant general manager of MAPFRE Inmuebles.

Alfredo Muñoz has been general manager of MAPFRE Inmuebles since 2020. Muñoz retires after more than 27 years in MAPFRE, where he has held various managerial positions, both in Spain
and overseas, where he was CEO of MAPFRE in Malta and Turkey.

“MAPFRE Inmuebles is in good shape and we have all the foundations laid to continue boosting our contribution to the Group. The investment strategy in alternative assets in recent years has
been successful, and we will continue to make progress with our top-level partners” said Carlos Díaz Gridilla, speaking about his appointment.

MAPFRE Inmuebles and its investment focus

In recent years, MAPFRE’s investment strategy in alternative assets has been channeled through funds. MAPFRE Inmuebles has formed alliances with high caliber partners such as Swiss Life,
Manova and Munich RE, which has enabled it to surpass 1.0 billion euros invested in real estate assets via funds, with the focus on prime office properties in key European cities.

MAPFRE Inmuebles has also pioneered significant investments in other alternatives, such as the joint launch with Abante and IAM Carbonzero of the first biomethane fund in Europe, constituted to finance the construction of 100% renewable biofuel production plants.

With an eye to sustainability, the MAPFRE Group subsidiary has also launched other vehicles in partnership with Iberdrola as well as a number of global infrastructure investments with Macquarie.

Overall, MAPFRE Inmuebles currently manages and supervises an asset portfolio (mainly comprising offices) with a market value of 3.2 billion euros across 25 countries, especially in Spain, Western Europe, and Latin America.