NAME: Javier San Basilio
NEW JOB TITLE: Madrid-based deputy general manager and chief underwriting officer, Mapfre Re
PREVIOUS POSITION: Madrid-based deputy general manager and chief underwriting officer, Mapfre Re
INDUSTRY OUTLOOK: One of challenging opportunities. The past few quarters have not been good in general, with known impacts like low interest rates and lengthy soft market pricing environments, and outliers bringing additional uncertainties, like COVID-19 and the Lebanon blast. The industry overall has coped rather well, and the prospects of hardening conditions present a brighter future.
GOALS FOR NEW POSITION: To keep building on what already is a fantastic business, and particularly a great and very special culture. To be able to share the underwriting capabilities of our expert team throughout the whole organization and to be able to provide an even better service to all our clients, all while making sure our underwriting acumen is up to date and ready to face the new challenges of an everchanging industry.
CHALLENGES FACING THE INDUSTRY: The uber challenge for me is the protection gap, especially in developing countries. Having lived in the Philippines, I have experienced it firsthand, and with Mapfres presence in many developing countries, particularly in Latin America, it is a constant thought. In my view, the reinsurance industry needs to find a way to close that gap faster, and then help in building more resilient and prosperous societies. To do so, our industry first needs to be able to provide acceptable returns, and that hasnt been the case in the last few years. Only through disciplined underwriting can we make a stronger industry in the long run and really be able to make a difference when needed.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: I joined Mapfre Re in 1992 and worked for the Group Inwards Reinsurance, and the Retro teams, right after Hurricane Andrew; tough times to try to place a retro cover. I also had to cover for one of our underwriters who had a small motorcycle accident and had to do the preliminary work on her renewals. I didnt understand a thing, but would fill in all the technical analysis sheets for the underwriters, even if it was business Mapfre wouldnt ever think of writing. I just didnt know better and preferred to err on the side of prudence; better overanalyze than discharge without a reason. It was a steep learning curve and I loved every minute of every long hour I spent there.
ADVICE: Be ready to question things, ask as many questions as you want, never stop asking. But also be ready to learn from the experience of your colleagues. Be ready to listen. Build relationships, be there for your colleagues, and more often than not, they will be there for you when you need them.
OUTSIDE THE INDUSTRY, A DREAM JOB: To work for the Spanish Diplomatic Service.
COLLEGE MAJOR: Law
LOOKING FORWARD TO: To learn from my colleagues and help build an even stronger company. And to help provide an even better service to our clients. To build long-lasting relationships.
FAVOURITE MEAL: Percebes (gooseneck barnacles)
BOOK: La Colmena, by Camilo Jose Cela
HOBBIES: Ski, sailing and spending time outdoors with friends and family while having something nice to eat and drink.
TV SHOW: A good Atletico de Madrid football match is the best show for me.
ON A SATURDAY AFTERNOON: To have a good family lunch, a little bit of a siesta, and then go out and about with my wife, and follow her instructions to the tee.
