 In the late 1970s the company was looking for the most appropriate expansion formula; on the one hand, in 1976 it set up MAPFRE Internacional and directly entered many South American markets, on the other, it formed re-insurance conglomerates with Belgian and Dutch companies.None of that really worked; the most successful strategy was taking over local entities and using re-insurance as a ram to enter local markets; following acquisitions of Seguros Caribe (Colombia), Aconcagua (Argentina) and other companies, in the late 1980s MAPFRE became a major player on the continent.Also swift response to the 1985 Mexico earthquake earned the group prestige and recognition.