MAPFRE News

UK Insurer Admiral Sells Price Comparison Unit to Zoopla in $685 Million Deal

UK home and car insurer Admiral Group Plc agreed to sell its price-comparison unit to the owner of property portal Zoopla in a transaction valued at 508 million pounds ($685 million). Admiral will get about 450 million pounds in the …

Space Insurance Premiums Could Double After European Vega Rocket Crash

Space rockets and satellites are likely to cost more to insure after the European Vega rocket crash this month, which hit insurers with a record space market loss of 369 million euros ($411.21 million), insurance industry sources say. The Vega …

Spanish Insurer MAPFRE Teams with China Re on Belt & Road Initiative Cover

Spanish insurer MAPFRE said it has signed a memorandum of understanding with China Re to insure infrastructure within the belt and road initiative promoted by China. The two said they will collaborate on insuring investments related to the Belt and …

Santander Pays $1.1B to Replace Allianz with Aegon, Mapfre in Spain Joint Venture

Banco Santander SA agreed to pay 937 million euros ($1.1 billion) to buy Allianz SE out of an insurance joint venture in Spain, more than halving the value of the German insurer’s assets under management in the country. Aegon NV …

Allianz, Generali & Liberty Mutual Vying to Invest in BBVA Bancassurance Arm: Sources

European insurers Allianz and Generali are vying with U.S. rival Liberty Mutual to invest in the bancassurance business of Spanish lender BBVA, four sources familiar with the matter told Reuters. The sale, led by Bank of America, kicked off towards …

Massachusetts Insurance Agents, Carriers Helping Their Towns Get Back to Normal After Gas Explosions

As three Massachusetts towns continue to face the after effects of a series of natural gas explosions, finding some normalcy may seem nearly impossible. However, this is something MAPFRE Insurance was seeking to offer as it reached out to the …

Safeco to Take Up Mapfre’s Tennessee, Kentucky, Indiana Business

MAPFRE Insurance, which last year decided to exit five states and focus on 11, is turning over its personal lines business in three of the five states it is leaving to Safeco Insurance, a Liberty Mutual unit. MAPFRE has agreed …

UPDATE 2: Global Re/Insurers Estimate Price Tag of Q3 Hurricanes & Quakes

Losses from Hurricane Maria and other recent 2017 natural catastrophes, including Hurricanes Irma and Harvey, the Mexico City earthquakes and other events, have led global insurers and reinsurers to issue profit warnings. Below are statements from insurers and reinsurers in …

MAPFRE Gains 51% of Indonesian Insurer ABDA to Expand in South East Asia

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 million euros. Through …

Small Business Insurance Site CoverWallet Pulls In $7.8 Million in Funding

Online commercial insurance agency CoverWallet announced it has received $7.8 million in funding in a Series A round led by Union Square Ventures, bringing its total raised to date to $9.5 million. In addition to Union Square Ventures, Index Ventures …