Mapfre buys Commerce Group (2008)
Mapfre paid about $2.2 billion for Massachusetts-based Commerce Group, then a top-20 US auto insurer. It was Mapfre's largest acquisition and its real entry into the American market.
The Massachusetts insurance commissioner approved the sale in May 2008; it closed that June.
Mapfre renamed the business Mapfre U.S.A. Corp. and became a major auto and home insurer in Massachusetts.
The Safety deal builds directly on Commerce. Combining the two would make Mapfre the region's largest homeowners and commercial auto writer.
