Safety Insurance Group, Inc. (SAFT) announced that its stockholders have approved the previously disclosed merger agreement under which the company will be acquired by MAPFRE U.S.A. Corp. The approval was granted during a special meeting of stockholders held on November 3, 2026. Upon completion, Safety Insurance Group will become a wholly owned subsidiary of Mapfre.
Key Details
- Merger Approval: Stockholders voted to adopt the Agreement and Plan of Merger dated July 23, 2026. The proposal received overwhelming support with 11,298,703 votes for, 12,918 against, and 26,574 abstentions.
- Executive Compensation: A non-binding advisory proposal on compensation for named executive officers related to the merger was also approved.
- Next Steps: The transaction's completion remains subject to customary closing conditions, including the receipt of necessary regulatory approvals.