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Mapfre steps up backing of Renault’s F1 team

Spanish insurance group Mapfre has extended and expanded its partnership with Renault to become a main sponsor of the French Formula One motor-racing team.

The new deal will cover the next five seasons. Mapfre first partnered with Renault in February 2017 and its branding appeared on the team’s cars last season.

As one of Renault’s main sponsors, Mapfre will now explore additional mobility solutions and services linked to the role insurance can play in the automotive industry.

The Mapfre logo will continue to appear on the nose and sides of Renault’s cars, and on the uniforms and helmets of drivers Carlos Sainz and Nico Hülkenberg.

Mapfre chairman and chief executive Antonio Huertas said: “This agreement with Groupe Renault will allow us to further promote the Mapfre brand and its values worldwide.

“Formula 1 is not just a competitive sport – it is also a testing ground for technological research that can then be expanded to society as a whole. This philosophy fits perfectly with our strategic position for the future.”

Jérôme Stoll, president of Renault Sport Racing, added: “Our relationship with Mapfre has highlighted the reach and potential of Formula 1 and the team and this long-term partnership is an opportunity for Groupe Renault and Mapfre to build new projects together.”