Mapfre doubles its gross premiums written in US with acquisition of Safety Insurance Group for €1,352 million
Report by Renta 4 Mapfre has reached an agreement, through its subsidiary Mapfre USA, to acquire 100 per cent of the share capital of Safety Insurance Group, a US non-life insurer. Safety Insurance Group holds a leading position in Massachusetts and has a presence in other north-eastern states. The transaction is valued at $1.542 million (€1.352 million), will be paid entirely in cash and implies a price-to-earnings ratio (P/E) of…









