Puerto Rico’s banking sector began seeing black this year, as the institutions began to slowly turn their finances around. A consolidation took place between Oriental and BBVA, while Doral struggled to remain above water.
Joaquín Castrillo-Garratón has been named president of MAPFRE Puerto Rico effective in January after being promoted from his current post as executive vice president, said Raúl Costilla, who currently leads the operation.
Considering the business risks related to managing Puerto Rico’s comprehensive and complex labor regulation, it makes sense for companies to protect their resources with an Employment Practices Liability (EPL) policy.