Mapfre Cites Hispanic Insurance Market Potential Behind Commerce Acquisition

The potential of the Hispanic insurance market is one of the factors attracting Spanish insurer Mapfre to its acquisition of the Massachusetts-based personal lines writer Commerce Group.

Mapfre officials calculate that about 14 percent, or some 22 million, of Commerce’s customer base in its 17 states of operation is Hispanic. Drawing from their experience in Europe, Latin America and Puerto Rico, Mapfre officials said they want to grow Commerce’s business in other states beyond Massachusetts by in part targeting the Hispanic community with specific products. Mapfre already has a small Spanish-speaking team in Florida, they noted.”*

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