ANTALUCÍA, the leading insurer in comprehensive family protection, has decided to integrate the management of its investments into SANTALUCÍA ASSET MANAGEMENT, the Group’s asset management company, with the aim of strengthening comprehensive investment management and boosting the asset management and savings business within the Group.
Carlos Babiano Espinosa, until now Corporate Director of Investments and Balance Sheet Management, will become the new CEO of SANTALUCÍA ASSET MANAGEMENT.
Carlos Babiano Espinosa joined Santalucía in 2013. For over 12 years, he has been closely linked to the Group’s investment activities, and in 2016 he was appointed Corporate Director of Investments and Balance Sheet Management.
Previously, Carlos worked at prestigious national and international financial institutions such as Inversis Banco, CECA, and Allianz Popular. He holds a degree in Economics from the University of Extremadura, a Master’s in Stock Markets and Financial Markets from IEB, a Master’s in Statistics from UNED, and a Master’s in Insurance Management (MDA) from ICEA. He has also completed various postgraduate programs in Finance, Economics, and Solvency II.
Gonzalo Meseguer, after seven years leading the asset manager and positioning it as a benchmark entity, has decided to embark on new professional projects. SANTALUCÍA has expressed its gratitude to Gonzalo Meseguer for his outstanding work and commitment over the years.
GRUPO SANTALUCÍA manages more than €12 billion in assets on its consolidated balance sheet, which will be added to the nearly €5 billion in assets currently managed by the asset management company. This significant volume of assets under management will enhance the firm’s investment capabilities to develop new business lines.
The current SANTALUCÍA Investments team will be integrated into SANTALUCÍA ASSET MANAGEMENT and will consist of over 50 professionals, including 25 portfolio managers.
The integration process, in compliance with applicable regulations, has been duly reported to the relevant authorities.
About SANTALUCÍA
SANTALUCÍA, a comprehensive insurance company with over 100 years of history, is the parent company of GRUPO SANTALUCÍA, a provider of family protection, savings, and assistance services. Recognized as one of the top-rated insurers in terms of customer experience, it offers a comprehensive value proposition that reaches more than 7.4 million policyholders.
As of the end of 2024, the Group has 9,309 employees and a territorial organization with nearly 250 agents, 500 points of sale, and partnerships with more than 1,200 brokerages. The company is also present in Portugal, Colombia, Mexico, Chile, and Argentina.
Its consolidated revenues amount to €3.422 billion, with total assets of €13.988 billion, equity of €2.036 billion, and a Solvency II ratio of 291%. Earned premiums total €2.190 billion, and life technical provisions amount to €6.173 billion. Its non-life combined ratio stands at 96.4%.
AM Best reaffirmed SANTALUCÍA’s Financial Strength Rating (FSR) as “A” (Excellent) and its Long-Term Issuer Credit Rating (ICR) as “a” (Excellent) in November 2024. Likewise, Fitch reaffirmed its Insurer Financial Strength (IFS) rating as “A” and its long-term rating as “A-”, both with a positive outlook.
Its success is built on continuous growth, constant innovation, and business diversification, with sustainability integrated into its decision-making in line with the Sustainable Development Goals (SDGs).
According to data published by ICEA, as of December 31, 2024, SANTALUCÍA ranks first in Funeral and Assistance, sixth in Home Insurance, eighth in Life Insurance, and is the ninth-largest insurance group by direct premium volume.
Image: Carlos Babiano Espinosa
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