CORPORATE | 30.08.2021
MAPFRE Insurance and AAA Washington Form Jointly Owned Insurance Company to Serve Customers in Washington and North Idaho
MAPFRE Insurance and AAA Washington entered into definitive agreements to form a jointly owned insurance company to write automobile and homeowners insurance in Washington and North Idaho.
The joint venture, which is subject to regulatory approval, will be known as the Auto Club MAPFRE Insurance Company. The company’s products will be designed specifically for the AAA member in Washington and North Idaho, with unique features, some of which are included at no additional cost.
“This joint venture expands our long-standing and successful partnership with AAA Washington,” said MAPFRE USA CEO Jaime Tamayo. “AAA is a strong and trusted brand and we are proud to deepen our relationship to serve AAA Washington’s members.”
AAA Washington is the largest independent personal-lines insurance agency in Washington, serving Washington and North Idaho. AAA Washington will remain an independent insurance agency and offer the new Auto Club MAPFRE Insurance Company’s products under the AAA Insurance brand.
“Our members trust AAA Washington to provide trustworthy insurance advice, choice among the top insurance carriers, long-term value and fast, quality claims service,” said Heather Snavely, AAA Washington President and CEO. “The new offerings through our partnership with MAPFRE provide our members all of these aspects, plus a product designed to fit their lifestyle. With this addition to an already exceptional lineup of insurance providers, our ability to serve and protect our members is stronger than ever.”
It is anticipated that the joint venture will begin operations in the fourth quarter of 2022.
MAPFRE Insurance®, rated “A” (Excellent) by A.M. Best Company, serves policyholders in 13 states across the United States. It is the largest auto and home insurer in Massachusetts and the 21st largest private passenger auto insurer in the United States. MAPFRE Insurance is part of MAPFRE Group, a global insurance company with a worldwide presence.
MAPFRE Insurance is a brand and service mark of MAPFRE USA Corp.
AAA Washington has been serving members and the traveling public since 1904. The organization provides a variety of exclusive benefits, including roadside assistance, discounts, maps and personalized trip planning, to its 1.2 million members. In addition, its full-service travel and independent insurance agencies provide products and services for members and the public.