This October 19, the Mutual Association of Lawyers celebrates its 75 anniversary and to do so it has decided to renew its image, shortening its name to Mutualidad. On the table The insurance group has a strategic plan until 2027 with which it aims to increase the volume of assets under management by another 24%, reaching 13,000 million euros. over 10.5 billion today. They are also studying the launch of unit linkeda characteristic product of the insurance sector that combines investment with life insurance to guarantee long-term savings.
Last year, the group that represents lawyers and judges managed to become part of the group of five largest insurers by management volume. Since 2005, the year in which Mutualidad became an individually funded entity, the group has gone from managing 1.6 billion to multiplying this figure almost tenfold this year. Likewise, own funds have increased from 9 million euros to the current 450 million. “We are alternatives to Social Security. We have a scheme and an investment map based on long-term savings, investment prudence and aimed at achieving stable returns,” says Enrique Sanz Fernández-Lomana, president of Mutualidad.
Another objective is to attract the youngest members through specific policies in which they say they are already working on within the company. Its goal is to increase its customer base by 10,000 people, reaching 220,000 in 2027.
The products managed by Mutualidad are intended to preserve the savings of its participants and generate income for retirement. Since 2005, the annualized return is above 5% in these savings products that combine vehicles intended to generate a pension at the time of retirement and a flexible savings plan, which is the only one that allows the money to be redeemed in a series of cases.
A high percentage of the investment portfolio managed by the group is allocated to fixed income investments, around 70% of the available assets, between public debt (which represents between 55% and 60% of the portfolio) and corporate bonds ( debt issued by companies). A more modest part is invested in variable income, below 6% of the total, in addition to having 10% allocated to real estate and a minority part of liquidity.