Deal Now Rests with the Massachusetts Division of Insurance
Safety Insurance Group shareholders will vote on MAPFRE’s $1.54 billion acquisition at a special meeting on November 3, 2026. The meeting starts at 1:00 p.m. and will be held in person at Safety’s headquarters, 20 Custom House Street, Boston. Shareholders of record as of September 8 are entitled to vote.
Federal Antitrust Review Has Cleared
The deal has already cleared federal antitrust review. Safety’s September 15 Form 8-K reports that the Hart-Scott-Rodino waiting period expired at 11:59 p.m. on September 14.
Massachusetts Form A Approval Remains Outstanding
The filing says closing “remains subject to other customary conditions, including the receipt of certain other regulatory approvals.” Safety’s definitive proxy names the main one: the Massachusetts Commissioner of Insurance must approve a Form A filing under M.G.L. c. 175.
With the federal review complete, the last substantive step in acquiring a Massachusetts domestic carrier is now at the Division of Insurance. The Form A hearing will appear on the Division’s hearing docket, and Agency Checklists will report on the notice when it is posted.
Shareholders to Receive $105 Per Share
The merger agreement is dated July 23, 2026. The parties are Safety, MAPFRE U.S.A. Corp. (a Massachusetts corporation), and Splash Merger Sub, Inc. Shareholders will receive $105.00 per-share in cash, and Safety will become a wholly owned subsidiary of MAPFRE U.S.A. Safety’s board approved the deal unanimously after receiving a fairness opinion from Jefferies LLC. The agreement includes a $46.2 million termination fee.
Readers may have seen alerts about a “shareholder investigation.” These come from plaintiff firms, which now send disclosure demands after nearly every announced public-company merger.
