The Renault F1 Team has announced the signing of a two-year partnership agreement with Mutua Madrilena, the Spanish insurance firm which sponsored McLaren in 2007.

The two companies know each other well, having enjoyed a successful collaboration during 2005 and 2006, when the team memorably won double crowns in the Formula 1 World Championship.

Strengthened through the success of its experience with the team in 2005 and 2006, Mutua Madrilena returns to support Renault in its quest to reach the highest level of performance.

At the signing of the agreement, Flavio Briatore commented: "We are happy to see the reunion of what has proved to be a solid and dynamic partnership. We want to build on the success of our close relationship with Mutua Madrilena as we strive to reach even greater heights in the years ahead. They join a solid base of partners, confirming the team's positive outlook, and I am sure we will enjoy a successful future together."

Mutua Madrilena President, Ignacio Garralda added: "The partnership with the ING Renault F1 Team is a logical extension of our company's strategic approach and one of the most effective ways to communicate with the public. We began our involvement in Formula 1 with this team, so we feel at home, and confident that the continuity of this relationship will help bring success for both organisations."