India, July 23 -- Safety Insurance Group Inc. (SAFT) on Thursday said it has agreed to be acquired by an affiliate of Mapfre S.A. in an all-cash transaction valued at about $1.54 billion.
Under the agreement, Safety shareholders will receive $105 in cash for each common share, representing a 44% premium to the company's stock price as of July 23, 2026.
The companies said the combination brings together two complementary property and casualty insurers, with Safety expected to benefit from Mapfre's global scale, financial strength and technology capabilities while continuing to operate under its existing brand. Safety's management team will remain involved in leading the business following the transaction.
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