Mapfre is a Spanish

Spain

Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...

 insurance company, based in Majadahonda

Majadahonda

Majadahonda is a municipality in Spain, situated 16 km northwest of Madrid, in the Community of Madrid. In 2009 the population was 66,585 inhabitants .It lies alongside the motorway A6 Madrid-A Coruña....

, Madrid

Madrid (autonomous community)

The Community of Madrid is one of the seventeen autonomous communities of Spain. It is located at the center of the country, the Iberian Peninsula, and the Castilian Central Plateau . The community is also conterminous with the province of Madrid and contains the capital of Spain, which is also...

. The name comes from the old mutual origin of the company (Mutua de Accidentes de Propietarios de Fincas Rústicas de España), but the company now only refers to itself as Mapfre. It is the leading insurance company in Spain and the largest non-life insurance company in Latin America

Latin America

Latin America is a region of the Americas where Romance languages  – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...

.

The company purchased Webster, Massachusetts

Webster, Massachusetts

-Media:* Worcester Telegram & Gazette * Webster Times, published every Friday* The Patriot, published every Wednesday* WGFP-AM 940, a country music station* Boston Globe* Boston Herald-Library:...

-based Commerce Insurance Group

Commerce Insurance Group

The Commerce Insurance Company, formerly known as Commerce Insurance Group, is an American company that provides personal insurance, commercial property insurance, and casualty insurance in Massachusetts and New Hampshire...

, a major provider of motor insurance

Vehicle insurance

Vehicle insurance is insurance purchased for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise therefrom...

, for over €1.5 billion in October 2007. Mapfre was listed in the Fortune Global 500

Fortune Global 500

The Fortune Global 500 is a ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by Fortune magazine....

 list on its 2008 edition. Rafael Nadal

Rafael Nadal

Rafael "Rafa" Nadal Parera is a Spanish professional tennis player and a former World No. 1. , he is ranked No. 2 by the Association of Tennis Professionals...

 is officially sponsored by the company.

In October 2010, Mapfre acquired British travel insurance

Travel insurance

Travel insurance is insurance that is intended to cover medical expenses, financial default of travel suppliers, and other losses incurred while traveling, either within one's own country, or internationally...

 provider, InsureandGo

InsureandGo

InsureandGo is a private limited insurance company based in the United Kingdom.They mainly specialise in travel insurance, but also provide computer and gadget insurance products...

, for an undisclosed sum.

External links