Fiatc appoints Joan Manuel Castells as general manager

Remodeling of the management dome of the Barcelona insurer FIATC Seguros, considered the second largest mutual insurance company in Spain. The entity's board of directors has appointed Joan Manuel Castells Molinero as general director, a position that until now did not exist in the mutual's organizational chart, which had an executive president, Joan Castells Trius, and three deputy general directors.

Castells Molinero was one of the three deputy general directors, positions also held by Vicente Cosín and Marisa Galán. According to FIATC, Cosín has retired, while Galán, head of the Technical Area, has been confirmed in her position. In parallel, Francesc Xavier Sellarès, head of the Human Resources area, has been promoted to the position of deputy general director. Therefore, from now on, there will be a president, a general director, and two deputy general directors. In addition, the director of the Legal area, Alejandra Barba, and the director of Claims, Mar Latorre, have joined the management committee.

The new general director is the son of the mutual's president and joined FIATC in 2017 as director of Strategy and Corporate Development. Since then, he has led the creation and development of the entity's strategic plan for 2021-2025. Previously, the executive had developed his career as an analyst in entities such as Morgan Stanley and was also a senior associate at the Barcelona private equity firm Abac Capital.

FIATC Seguros closed the 2021 financial year ---the last with available data--- with a premium income volume of 772.86 million euros, a figure that represents an increase of 6.15% compared to the previous year, higher than the increase achieved in 2020 (+5.46%). Again, the company managed to grow above the sector average, which stands at 5%. The Barcelona-based insurer achieved a net profit of 15.46 million, a figure that rises to 17.43 million in terms of the consolidated group, that is, taking into account its subsidiaries.

The 772.86 million in premiums place FIATC among the top 18 non-life insurance entities in Spain and the second mutual insurance company. Of this figure, 290.99 million correspond to the life and death area and 481.86 million to the non-life area. In parallel to the insurance business, the FIATC Group owns Clínica Diagonal —in Esplugues de Llobregat— and has residences for the elderly in Cornellà, Sant Cugat and Mollet del Vallès, among other businesses.

At the beginning of the year, FIATC announced an agreement to acquire a majority stake in Igualatorio de Previsión Sanitaria de Seguros (Ipresa), a company that has been operating in the province of Guipúzcoa since 1946, which allows it to strengthen its position in the Basque Country. In addition, last September it boosted its residence business by purchasing the CRAL Sant Just residence, located in Sant Just Desvern (Barcelona) and with a track record of more than twenty years of experience.