Why a Spanish insurer just paid $1.54 billion for a Massachusetts auto carrier
On July 23, Safety Insurance Group agreed to sell to MAPFRE for $105 per share in cash, valuing the deal at about $1.54 billion and representing a 44% premium over Safety’s July 23 trading price. MAPFRE has operated in Massachusetts since 2008 via Commerce Insurance. MAPFRE projects over $30 million in pretax cost synergies and expects net income to rise more than 5% within three years. Closing is targeted for Q1 2027.

