Mergers & Acquisitions ·
Safety Insurance Group stockholders approve $1.5B merger with MAPFRE
SAFTSafety Insurance Group Inc
Stockholders of Safety Insurance Group, Inc. approved the proposed merger agreement with MAPFRE U.S.A. Corp., under which a subsidiary of MAPFRE will merge with and into Safety, making it a wholly owned subsidiary. The proposal received 11,298,703 votes in favor against 12,918 opposed. A non-binding advisory vote on merger-related executive compensation also passed. Completion of the transaction remains subject to customary closing conditions, including regulatory approvals. Safety Insurance Group operates as a property and casualty insurance company.