Huertas prepares Mapfre's new strategic plan, with a focus on Safety
The insurer will pay $200 million to BlackRock and $150 million to Vanguard for the purchase of Safety, of which they are major shareholders.
Mapfre's president, Antonio Huertas, is preparing the company's new strategic plan, which will focus on growth in the US market following the purchase of insurer Safety for €1.352 billion. The acquisition, expected to be completed in the first quarter of 2027, will add $1.3 billion in annual premiums to Mapfre's US business, increasing it to $3.9 billion.
The deal is expected to generate over $30 million in annual cost synergies and increase Mapfre's net profit by more than 5%. Huertas will step down as president in January 2029, when he turns 65, but may remain on the company's board.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
