Latest Mapfreusa Headlines
All the headlines from our Mapfreusa Topic Page, ordered by recency.
MAPFRE Gains 51% of Indonesian Insurer ABDA to Expand in South East Asia
Jun 13 2017 // Insurer MAPFRE, which already owned 31 percent of the insurer, has gained 51 percent and effective control of Indonesian insurance company PT Asuransi Bina Dana Arta Tbk (ABDA). The transaction was closed at a price of 90...
MAPFRE Insurance to Provide Coverage for Massachusetts Rideshare Drivers
Mar 31 2017 // In an important move aimed at protecting Massachusetts drivers, MAPFRE Insurance will be among the first insurers in the state to offer gap coverage to auto insurance policyholders using their personal cars to drive for...
Castelo Takes Charge at MAPFRE North America, USA
Jan 26 2017 // Spanish insurer MAPFRE Group’s new CEO for its North America arm has assumed his responsibilities. Alfredo Castelo is now president and CEO of both MAPFRE U.S.A. Corp. and MAPFRE North America region. He is replacing...
MAPFRE Appoints Tamayo as CEO of International; Castelo Named CEO of US Unit
May 5 2016 // Madrid-based MAPFRE S.A. has promoted Jaime Tamayo as CEO of the international territorial area. In his new responsibilities, Tamayo will oversee three regions at MAPFRE: the North America region; the EMEA region,...
MAPFRE Posts $512 Million Q1 Pre-tax Profits; Revenues up 8.9% to $8.389 Bn
May 11 2015 // Spain’s MAPFRE posted significant increases in the first quarter of 2015 with total revenues up 8.9 percent to €7.515 billion [$8.389 billion] and “gross written and accepted premiums” up by 2.6...
Business Moves
Feb 23 2015 // Majesco, Agile Insurance technology firm Majesco has completed the acquisition of the insurance business of Agile Technologies, a technology consulting firm with revenues of more than $9 million. Terms of the deal were not...
MAPFRE Net Income Rises 6.9% on Rebound in Spanish Business
Feb 11 2015 // MAPFRE SA, Spain’s biggest insurer, recorded a 6.9 percent rise in net income last year on higher returns in its home market. Net profit grew to 845 million euros ($956 million) from 790.5 million euros a year...
MiddleOak Exiting Personal Lines; Selling Business to Mapfre
Feb 5 2015 // Spanish insurance giant MAPFRE SA has said it wants to expand and is eying acquisitions in both Europe and the U.S. Barely two months into 2015, it has pulled the trigger on one such deal in New England, reports...
MAPFRE Enters Mass. Life Insurance Market
Sep 8 2014 // MAPFRE U.S.A. has begun selling a term life insurance product in Massachusetts, where MAPFRE’s subsidiary, Commerce Insurance, is the largest auto and home insurance carrier. MAPFRE said it is seeking to leverage its...
MAPFRE Enters Life Insurance Market in Massachusetts
Aug 27 2014 // MAPFRE U.S.A. said it has begun selling a term life insurance product in Massachusetts, where MAPFRE’s affiliate Commerce Insurance Company is the largest auto and home insurance carrier. MAPFRE said it is seeking to...
MAPFRE Insurance Enters Pennsylvania Auto, Home Insurance Market
Jul 3 2014 // MAPFRE Insurance has entered the Pennsylvania insurance market. MAPFRE’s operations in Pennsylvania will be headquartered in King of Prussia and the company will offer private passenger automobile and homeowners...
Ratings Recap: Penn National, MGA, MAPFRE USA
May 19 2014 // A.M. Best has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Pennsylvania National Mutual Casualty Insurance Company and its...
Ratings Recap: Samsung Europe, Transmonde, MAPFRE PRAICO, Ocaso
Apr 15 2014 // A.M. Best has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating of “a” of UK-based Samsung Fire & Marine Insurance Company of Europe, Limited (SFME), both...
MAPFRE Details Future Plans – U.S. Expansion, Increased Operating Revenue
Mar 17 2014 // Spanish insurance group MAPFRE’s Chairman and CEO, Antonio Huertas, referred to the strategic objectives for the next three years, as he announced the highlights at its Annual General Meeting. The group forecast...
MAPFRE Earnings up 18.7% to $1.078 Billion; Revenues at $35.32 Billion
Feb 12 2014 // Spain’s MAPFRE Group announced that its earnings for 2013 rose by 18.7 percent, to €790.5 million [$1.078 billion], while total revenues rose by 2.3 percent to €25.889 billion [$35.32 billion]. The earnings...
MAPFRE | Commerce Insurance Launches Telematics Program in Massachusetts
Dec 18 2013 // MAPFRE | Commerce Insurance has launched its DriveAdvisorProgram in Massachusetts. The new program will allow eligible Massachusetts drivers to receive comprehensive information on driving patterns and overall driving...
MAPFRE Enters Indonesian Market with 20% Stake in ABDA
Oct 17 2013 // Spain’s MAPFRE announced that it has acquired a 20 percent stake in the Indonesian insurance company Asuransi Bina Dana Arta (ABDA), and “has established a partnership in which MAPFRE becomes the industrial...
MAPFRE Insurance Expands DriveAdvisor Telematics Program to Oregon
Aug 7 2013 // MAPFRE Insurance has expanded its DriveAdvisor Program to the state of Oregon. DriveAdvisor is a voluntary program that provides an auto insurance discount for customers who elect to use telematics technology to monitor...
MAPFRE GLOBAL RISKS Aims to Strengthen European Presence
Jun 18 2013 // MAPFRE GLOBAL RISKS announced plans to “enter into new markets and grow in those where it has not consolidated its presence yet,” beginning with efforts to “increase its business operations in...
Best Affirms MAPFRE USA and Group Members Ratings; Outlook Negative
Jun 3 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” of the members of MAPFRE USA GROUP. The lead company in MAPFRE USA is The...
