MAPFRE U.S.A. Corp. was founded in Webster, Massachusetts in 1972. It was originally referred to as The Commerce Group, Inc. (CGI). The CGI was a major provider of primarily motor vehicle insurance. In 2008, The Commerce Group was officially purchased by MAPFRE. MAPFRE is originally a Spanish insurance company which was founded in 1933 in Majadahonda, Spain.
The CGI was a created as a means for independent agents to have access within the industry. This would provide not only customers but also independent agents with personal lines of insurance needs. After being added to the MAPFRE industry, The Commerce Group is now the largest provider of private passenger automobile insurance in the state of Massachusetts. In addition, the CGI is also the leading provider of homeowners insurance, and the second leading provider of commercial auto insurance in Massachusetts.
After being purchased by MAPFRE S.A., the Commerce Group was renamed MAPFRE USA in 2010. Since its founding in 1972, MAPFRE USA has expanded across the country. The following is a list of entities which are the comprising components of MAPFRE USA:
The Commerce Insurance Company – Webster, Massachusetts – 1972
American Commerce Insurance Company – Columbus, Ohio – 1946
Citation Insurance Company – Webster, Massachusetts – 1981
Commerce West Insurance Company – San Ramon, California – 1948
MAPFRE Insurance Company of Florida – Miami, Florida – 2002
MAPFRE Insurance Company – Florham Park, New Jersey – 2007
MAPFRE Insurance Company of New York – Garden City, New York – 1954
The company is known for writing property and casualty insurance policies across sixteen states within the country. With their expansion has also come much success. In 2009 and 2010, MAPFRE USA ranked as one of Ward’s Top Performing P & C Insurers. According to the A.M. Best Company, MAPFRE USA is one of the leading Property and Casualty insurers. It received an “A” in this category.
This rating means that company’s financial strength is in excellent standing. MAPFRE also received an “a” in issuer credit ratings. This means that the company is viewed as being highly capable of reaching financial obligations successfully. In 2009, MAPFRE USA was ranked #19 in the Top U.S. Private Passenger Automobile Writers by the A.M. Best. This rank was based solely off of direct written premiums. Take a look at what A.M. Best had to say about MAPFRE USA.
MAPFRE USA is an ever-growing insurance company within the nation. While there is an expansion in the homeland, there is also expansion on a global level. Because MAPFRE USA is a subsidiary of MAPFRE S.A., the original company from Spain, the entire insurance company is affiliated throughout the globe. MAPFRE is present in 43 countries, and it also consists of a network of over 50,000 agents. Visit MAPFRE’s website to learn more!
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