When it comes to auto insurance, MAPFRE U.S.A. is all over the
map, yet still localized. Formerly known as The Commerce
Group, the property/casualty insurance company operates
through several regional subsidiaries. Its flagship Commerce
Insurance is among the largest personal auto and homeowners
insurers in Massachusetts -- in part because of its affinity
marketing programs with AAA clubs. Its Commerce West and
American Commerce subsidiaries sell auto insurance in 15
states while its State-Wide Insurance Company writes private auto
insurance in New York and MAPFRE Florida serves, well, Florida.
MAPFRE U.S.A.'s companies sell through a network of
independent agents and some brokers.
Prior to the subprime mortgage lending crisis, the company
also operated real estate and commercial lending subsidiary
Bay Finance. However, as a result of the crisis, Bay
Finance stopped writing new mortgage loans in
The Commerce Group was acquired by Spanish
insurer MAPFRE in 2008, as part of MAPFRE's plan to
expand into the US. Following the acquisition, the company's name
was changed to MAPFRE U.S.A. in early 2010.