In Spain, CAJA MADRID, the country's second largest savings bank, and MAPFRE, the country's foremost insurance form, are to merge a large pat of their insurance activities within a new holding company in which MAPFRE will have a 51% stake and CAJA MADRID 49%. Called MAPFRE-CAJA MADRID SEGUROS, the entity will represent a turnover of over EUR 3.31 bn.