The insurer Mapfre, led by Antonio Huertas, presents its strategic plan 2026-2029 following the acquisition of Safety for €1.352 billion. The operation aims to boost its presence in the United States and generate significant synergies.
Mapfre has revealed its new strategic plan that will run from 1 January to 31 December 2029, after acquiring the insurer Safety for €1.352 billion. According to expansion.com, this purchase is aimed at strengthening the company's position in the US market.
The president of Mapfre, Antonio Huertas, has stated that the primary objective is to achieve profitable growth across all its businesses. The operation will allow the insurer to obtain €140 million in excess capital and is expected to generate annual cost synergies exceeding $30 million within three years.
The acquisition, which will close in the first quarter of 2027, also includes significant payments to the main shareholders of Safety, BlackRock and Vanguard, who will receive €200 million and €150 million respectively. Huertas, who will turn 65 years old in 2029, has indicated that this new plan will be crucial for the organic growth and expansion of Mapfre.
Business in the United States will be boosted with annual premiums reaching $3.9 billion following the integration of Safety, which will also raise the group's profit from $134 million to $233 million.
Projections anticipate an average growth of 6% in 2024-2026. However, in Spain, Mapfre has seen a decrease of 1.56% in its business in the first half of 2026, in contrast to the sector's growth of 8.8%. This poses challenges in an environment marked by currency volatility and competition in the sector.
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