MAPFRE U.S.A. Enters Life Insurance Market

MAPFRE Insurance to begin selling term life insurance policies in Massachusetts

Business Wire

WEBSTER, Mass.--(BUSINESS WIRE)--

MAPFRE U.S.A. announced today its entry into the United States life insurance market. MAPFRE Insurance has begun selling a term life insurance product in Massachusetts, where MAPFRE’s affiliate Commerce Insurance Company is the largest auto and home insurance carrier. MAPFRE Insurance is seeking to leverage its dominant position in the Massachusetts personal lines market by offering life insurance to customers in conjunction with the company’s network of independent agents throughout Massachusetts. MAPFRE Insurance plans to roll out its life insurance product in additional states later this year.

“I am pleased and excited to announce the launch of MAPFRE U.S.A.’s life insurance sales in the U.S.,” said Jaime Tamayo, President and CEO of MAPFRE U.S.A. “Offering life insurance is essential to MAPFRE’s goal of fully protecting our customers’ most valuable assets in times of loss. As with our property and casualty products, the term life product will be competitively priced and will be backed by MAPFRE’s commitment to superior service.”

MAPFRE’s use of state of the art technology and processing efficiencies will enable real time coverage decisions. Customers in Massachusetts who purchase a life insurance policy from MAPFRE Insurance will also receive a discount on auto insurance with affiliate Commerce Insurance.

For more information, visit www.mapfreinsurance.com.

About MAPFRE:

MAPFRE Insurance, the 19th largest provider of personal automobile insurance in the United States, is part of the MAPFRE Group, a global insurer with business in 47 countries on five continents. The MAPFRE Group is the leading insurer in Spain. It is also the largest multinational insurer in Latin America and among the top 10 European insurance companies by premium volume. The MAPFRE Group has 36,000 employees and over 23 million customers worldwide.

MAPFRE Insurance is a brand and service mark of MAPFRE U.S.A. Corp. and its affiliates, MAPFRE Life Insurance Company (Dover, DE), American Commerce Insurance Company (Columbus, OH), Commerce West Insurance Company, (Cal. COA. 6715, San Ramon, CA), MAPFRE Insurance Company (Cal. COA 08643, Florham Park, NJ), MAPFRE Insurance Company of Florida (Miami, FL) and MAPFRE Insurance Company of New York (Garden City, NY).

For more information, visit www.mapfreinsurance.com.

Contact:
MAPFRE Insurance
Linda Johnson, 508-949-4982
Assistant Vice President
Corporate Communications
ljohnson@mapfreusa.com
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