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The international expansion of a Valencian mutual | Economy

If there is an active sector in this unexpected decade of the 1920s, it is the insurer, which for decades has moved around 5% of the Spanish Gross Domestic Product (GDP). Divina Seguros, which was born in Valencia in the 1950s, is a good example: it is already present in three other countries in Europe and America, and its international projection strategy continues to be launched. Divine Insurance celebrates its 65th anniversary with the peephole in many settings. “We are very proud of the work we do. Our mission is for Divina Seguros to be bigger and more solvent every year”, underlines Armando Nieto, executive president of the entity.

The insurer, which was founded in 1957, enters the European market for the first time this year through Portugal, where it will operate in the auto and mobility business. A new step in its internationalization plan that began in 2015 with its arrival in Argentina, and continued in 2021 with its landing in Chile, in order to provide insurance solutions for all types of families. This is the philosophy and the vocation that have guided the trajectory of this company from the beginning, which today has more than 600 employees.

Armando Nieto, executive president of Divina Seguros.
Armando Nieto, executive president of Divina Seguros.

Expanding Philosophy

Internally there were also changes. The advances in the labor policies of his staff have allowed him to expand his philosophy more and better beyond the Spanish borders. That philosophy that was embodied in agents and brokers has also been exported to new territories. They offer “simple policies, with simplified processes and in which an excellent coverage-price ratio predominates”, recall company sources.

We want any family to be able to access insurance that can protect them in critical situations. That is the essence of our activity, offering solutions for difficult times to anyone

Armando Nieto, executive president of the entity

He knows in depth all the sides of the coin.

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In Chile, for example, the objective was for households with lower incomes to be able to contract the products it sells: compensation insurance for hospitalization, dental insurance, complementary health, death, life and personal accident insurance. “We want any family to be able to access insurance that can protect them in critical situations that arise in life,” Nieto insisted. “That is the essence of our activity, offering solutions to anyone for difficult times.”

In favor of the most needy

The natural market of Divina Seguros does not end in the Iberian Peninsula. The company has been able to adapt to the new times and to the increasingly changing needs of its users. That first insurance of 1957 that covered basic benefits has given way to more than 90 offices throughout Spain, to more than half a million insured persons and to a wide portfolio of products available to families, at any time of their life cycle, all of them with an excellent price-coverage ratio. Since 2019, Divina has also offered car insurance, after the acquisition of Asegrup. This purchase has resulted in a commitment to the brokerage channel, with 438 brokers distributed throughout our country, which complements the distance sales channel and the network of agencies.

The company has more than 90 offices throughout Spain, such as this one in Xàtiva (Valencia), with more than half a million policyholders and 600 employees.
The company has more than 90 offices throughout Spain, such as this one in Xàtiva (Valencia), with more than half a million policyholders and 600 employees.

Another of the virtues that characterize Divina Seguros is the prudence in its investments and the containment of expenses, which has translated into uninterrupted profits since its first year of life. Even in 2020, a year marked forever by the covid-19 crisis, it exceeded 20 million euros in profits, the best result in its history.

A firm commitment to sport and culture

The commitment to sport, with whom it shares the values ​​of effort, self-improvement, sacrifice and leadership, is part of the insurer’s DNA. For more than a decade, Divina Seguros has sponsored activities related to popular athletics, basketball and gymnastics. The same happens with culture, a sector that has been hit hard by the coronavirus crisis. Since 2020, the company has promoted several initiatives to support the cultural sector, such as the promotion of the Goya Awards and the sponsorship of the #volveralavida project, with which it wants to encourage attendance at cinemas and theaters.

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