Having acquired One Winthrop Square in downtown Boston for $55 million, Mapfre Insurance plans to move into the building and relocate some of its operations.
Mapfre Insurance acquired MA’s largest auto carrier, The Commerce Insurance Group, in 2008, and was known as Mapfre | Commerce Insurance until the company rebranded itself earlier this year as simply Mapfre Insurance.
One Winthrop Square, which totals 114,000 square feet, will be a part of Mapfre’s investment portfolio and will be home for the company’s North American executive offices.
“This prominent building gives Mapfre a presence in our state’s capital, is a solid financial investment for our company and reaffirms Mapfre’s commitment to its home state of Massachusetts,” said Linda Johnson, Mapfre assistant vice president of corporate marketing communications.
The company has around 1,900 employees at its original office in Webster, MA. In 2014, Mapfre wrote a total of $1.356 billion in premiums. Mapfre is, as of this writing, the largest property and casualty insurance company in the state, according to the Boston Business Journal.
Johnson noted that the company’s corporate office will still remain in Webster, but a select number of senior executives will move their offices to One Winthrop Square “at some point in the future.”
