LONDON (Standard&Poor's) March 9, 2010--Standard&Poor's Ratings Services said today that its ratings and outlook on Spain-based insurer Mapfre S.A. (Mapfre; A+/Stable/--; core operating entities Mapfre Global Risks, Compañia Internacional de Seguros y Reaseguros S.A., and Mapfre Re, Compañia de Reaseguros, S.A. are rated AA/Stable/--) are unaffected by the acquisition by Mapfre of 50% of Ascat Vida, S.A. de Seguros y Reaseguros and Ascat Seguros Generales, both insurance subsidiaries of Barcelona-based savings bank Caixa d'Estalvis de Catalunya (Caixa Catalunya). The ratings and outlook on Massachusetts-based insurer Commerce Group Inc. (BBB/Stable/--) and its insurance subsidiaries, Commerce Insurance Co. and Citation Insurance Co. (MA) (both rated A/Stable/--), are also unaffected by this acquisition. This follows the announcement of the
