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- 1920, the Porto Rican and American Insurance Company, predecessor of MAPFRE PRAICO INSURANCE COMPANY, began operations on the island, and is today the oldest insurance company in Puerto Rico.
- 1960, the company was sold to the Woolnor Corporation, and passed to the International Investment Company Inc., one year later. The J. Walter Thompson advertising agency acquired the company in 1965, and in 1974, the Continental of New York Corporation purchased and integrated the company into its group of insurance companies.
- 1990, MAPFRE (www.mapfre.com) acquired the group incorporating into the local culture the vast experience and insurance technology of this multinational group. In turn, it acquired Security National Life Insurance Company de Puerto Rico, a company established in 1984, today known as MAPFRE LIFE INSURANCE COMPANY OF PUERTO RICO.
- 2001, MAPFRE PRAICO CORPORATION. acquired MAPFRE CORPORATION OF FLORIDA. Subsequently, on January 1, 2004, MAPFRE PRAICO CORPORATION. sold 100% of its shares in MAPFRE CORPORATION OF FLORIDA to MAPFRE MUTUALIDAD. With the continuous support and assistance of MAPFRE PRAICO, MAPFRE CORPORATION OF FLORIDA assumed the responsibility of developing the markets aimed at the MAPFRE insurance companies in the United States.
- 2003, the companies that comprise the group changed their corporate names to include the MAPFRE name. The closing of that year, MAPFRE PRAICO CORPORATION acquired Canada Life Insurance Company of Puerto Rico, an insurance company with more than 30 years experience in the insurance market on the island, later in 2004 became part of MAPFRE LIFE INSURANCE COMPANY OF PUERTO RICO. With this acquisition, MAPFRE expanded the variety of products it offers to its customers incorporating life and health insurance.
- 2006, MAPFRE PRAICO CORPORATION acquired all of the shares of the Baldrich & Associates general agency, Autoguard, Inc., and Profit Solutions, Inc., automotive service providers, including extended warranty.
- 2007, MAPFRE made the largest investment in the history of the GROUP by signing a merger agreement with the COMMERCE insurance company in the United States, acquiring 100% of that entity’s stocks for $2.3 billion dollars.
- 2008, MAPFRE PRAICO CORPORATION relaunched MAPFRE FINANCE OF PUERTO RICO CORP., a premium financing company.
- By the close of 2018, MAPFRE had 8 branches throughout the Island, more the 600 employees and more than 13,000 health services providers.
- Today, MAPFRE PUERTO RICO is an insurance group which cover the property, casualty, life and health insurance: MAPFRE PRAICO INSURANCE COMPANY, MAPFRE PAN AMERICAN INSURANCE COMPANY, and MAPFRE LIFE INSURANCE COMPANY OF PUERTO RICO. Other group affiliates are offering a range of complementary produts and services, incluiding MULTISERVICAR INC., which operates a body shop and paint, MAPFRE SOLUTIONS, Inc. (formely known as AutoGuard, Inc.) which continues to offer its warranty products for cars, MAPFRE FINANCE, our premium financial and MAPFRE Insurance Agency of Puerto Rico, Inc., the general agency insurance.
- All of the companies are grouped under MAPFRE PRAICO Corp., a company controlled by MAPFRE AMÉRICA S.A., with central offices in Madrid, Spain. MAPFRE AMERICA S.A. its a subsidiary controlled by MAPFRE S.A. the largest insurance company in Spain which maintains a presence in more than 40 countries on five continents. MAPFRE is the leader in the Spanish insurance market, the first multinational insurance group in Latin America, where is also leader in Non Life. MAPFRE is among top 10 European groups and top 20 auto insurance companies in the United States.
- All of the companies in Puerto Rico continue to share administrative services, business policies, and have integrated operations, allowing them to benefit from the organization’s technological experience. At the present, Puerto Rico operations maintain a close relationship with MAPFRE operations in the United States as part of the regional unit in North America.
Welcome to MAPFRE PUERTO RICO!