Insurer MAPFRE USA, which now writes in 19 states, is narrowing its focus by concentrating on 11 key states, exiting five states including selling its New York subsidiary, and selling its life insurance unit. MAPFRE USA has identified 11 core …
Madrid-based MAPFRE S.A. has promoted Jaime Tamayo as CEO of the international territorial area. In his new responsibilities, Tamayo will oversee three regions at MAPFRE: the North America region; the EMEA region, comprising Europe, Middle East and Africa, and the …
A.M. Best Co. has commented that the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings of “a” of the members of MAPFRE USA Group are unchanged following the recent market volatility surrounding Spain’s economic conditions, derived from …
A.M. Best Co. has downgraded the financial strength rating to ‘A’ (Excellent) from ‘A+’ (Superior) and issuer credit ratings to “a+” from “aa-” of MAPFRE USA Group following the rating downgrades for its parent company, Spain’s MAPFRE S.A. The lead …
