MAPFRE Insurance and AAA Washington to form jointly-owned Auto Club MAPFRE Insurance Company
Bellevue, Wash.—MAPFRE Insurance and AAA Washington have 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 will remain an independent insurance agency and offer the new Auto Club MAPFRE Insurance Company’s products under the AAA Insurance brand.
It is anticipated that the joint venture will begin operations in the fourth quarter of 2022.
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