Key Highlights Shares of Safety Insurance Group (SAFT) climbed 37.58% in after-hours trading to $100.35 following the announcement of a $1.54 billion takeover Mapfre S.A., a Spanish insurance
Shares of Safety Insurance Group (SAFT) skyrocketed 37.58% during after-hours trading Thursday, reaching $100.35, following news that an affiliate of Spain’s Mapfre S.A. will acquire the company.
Safety Insurance Group, Inc., SAFT
The acquisition is set up as an all-cash purchase totaling roughly $1.54 billion.
Investors holding SAFT shares will be paid $105 in cash per share. This price point marks a 44% premium compared to Thursday’s final trading price of $72.94, which had increased 0.61% during regular market hours.
The buyout was made public after trading concluded on Thursday, July 24, 2026.
Safety’s board of directors gave their full endorsement to the transaction. Company directors and senior management have also entered into voting agreements pledging their support.
Chief Executive Officer George Murphy described the transaction as an “exceptional outcome” for those holding shares. He noted that Mapfre aligns with the company’s commitment to underwriting discipline and strategic long-term planning.
According to the merger structure, a Mapfre subsidiary will combine with Safety Insurance. Following completion, Safety will operate as a fully owned subsidiary of Mapfre.
Restricted stock units and performance-based share awards will accelerate and convert to cash as part of the transaction.
The deal is projected to reach completion during the first quarter of 2027. Final approval depends on a shareholder vote, Hart-Scott-Rodino antitrust clearance, and authorization from the Massachusetts Commissioner of Insurance.
The agreement contains no-shop clauses, preventing Safety from entertaining competing offers. Both parties face termination fees — approximately $46 million owed by Safety and $112 million owed by Mapfre under certain circumstances.
Mapfre has obtained committed equity financing from its parent organization in Spain to cover the acquisition cost.
Jefferies LLC has been retained as Safety’s exclusive financial advisor for the transaction. DLA Piper LLP (US) is providing legal representation.
Following the completion of the merger, Safety will maintain operations under its current brand name.
Before the after-hours surge, SAFT’s 52-week price range spanned from $67.04 to $81.49 — making the $105 buyout price significantly higher than any trading level achieved over the past year.
The insurer has approximately $1.07 billion in market capitalization based on 14.68 million outstanding shares.
Prior to Thursday’s announcement, the stock had posted modest gains of just 3.29% over the preceding twelve months — a trajectory that has now been dramatically altered by the acquisition news.
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