Spain’s Mapfre to Acquire Safety Insurance for $1.54 Billion in Cash

Safety Insurance Group, Inc. (SAFT) entered a merger agreement on July 23, 2026, to be acquired by Mapfre S.A. for $1.54 billion.

Deal Structure:

Safety shareholders will receive $105 for each Safety common share in cash, representing a 43.95% premium from the stock’s last close.

Company Profile:

Safety Insurance is a U.S.-based property and casualty insurer that provides personal and commercial insurance products, including private passenger and commercial auto, homeowners, business owners, umbrella, dwelling fire, inland marine, and recreational watercraft coverage. The company distributes its policies through a network of independent insurance agents, primarily serving customers in the Northeastern United States.

Mapfre is a Spain-based multinational insurance group that provides property and casualty, life, health, accident, and reinsurance products, as well as asset management and other financial services. The company operates across Europe, the Americas, and other international markets, serving individuals, businesses, and institutions through owned distribution channels and insurance intermediaries.

Deal Details and Timeline:

The deal is expected to close during the first quarter of 2027.

Safety will continue operating under its established brand, retaining its policyholder and independent agency relationships and local market operations.

A subsidiary of Mapfre U.S.A. Corp. will merge with Safety. After the merger, Safety will become a wholly owned subsidiary of Mapfre U.S.A. Corp. and will operate alongside Mapfre’s other U.S. subsidiaries.

Jefferies served as financial advisor to Safety Insurance, and DLA Piper served as its legal advisor.

Mapfre is obtaining Safety Insurance at 1.23 times its book value.

Deal Metrics:

For more comprehensive information about this merger and acquisition transaction, please visit the Deal Metrics page via the link provided below.

Deal Metrics for the acquisition of Safety Insurance Group, Inc. (SAFT) by Mapfre S.A.

The Deal Metrics page for each merger or acquisition includes:

• A comprehensive spread history chart from the merger announcement to the eventual completion or failure.
• A timeline of all events from the expiration of the HSR period, through regulatory approvals, shareholder votes, etc.
• An archive of news updates and SEC filings.
• A continuous history of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article