 Following months spent in London Larramendi worked in Dirección de Seguros until 1952, when he joined Royal Insurance Company to head its Madrid office; following disagreement with its managers and a few-month spell back at Dirección in 1955, the same year he joined MAPFRE, a mid-size private insurance mutual.At the time the company was at the verge of bankruptcy; as director general Larramendi was tasked with introducing a sanitation program.He re-negotiated a long-term debt repayment period with Consejo General de Colegios de Farmacéuticos de España, closed some branches and streamlined ongoing operations, resulting in Mutualidad getting out of red and returning to profit in the late 1950s.