Boston, Madrid – Global law firm Hogan Lovells Cadwalader has advised Mapfre S.A. (“Mapfre”) in connection with its pending acquisition of Safety Insurance Group Inc. (“Safety”), a leading property and casualty insurer with a strong presence in Massachusetts and across New England. This all-cash transaction, valued at US$1.54 billion, represents a significant step in Mapfre Group’s global growth strategy.
The acquisition has been unanimously approved by the boards of directors of both companies and is expected to close in Q1 2027.
“This transaction highlights the strength of our integrated cross-border and cross-practice team as well as our ability to support clients on complex transactions in highly regulated industries across jurisdictions,” said M&A partner Peter Cohen-Millstein. “By combining sector knowledge with collaboration across our global platform, we were able to help Mapfre navigate a significant acquisition that advances its long-term growth strategy and expands its presence in a key market.”
The combination of Mapfre and Safety is expected to strengthen Mapfre’s overall profitability, stability, and growth in the U.S. It will reinforce its ability to attract and retain top talent, foster deeper connections with agents and clients, and enhance product innovation and service quality. Safety will operate within the Mapfre Group and maintain the unique strengths of both organizations.
More about the transaction can be found here.
The Hogan Lovells Cadwalader cross-border deal team was led by partners Peter Cohen-Millstein (M&A, New York), Adrienne Ellman (M&A, New York / Boston), Fernando Calancha (Regulatory, Madrid), and Iñigo Berricano (Securities & Public Company Advisory, Madrid).
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