Latest Hanover Headlines
All the headlines from our Hanover Topic Page, ordered by recency.
Ratings Roundup: Aflac, Scottish Re (U.S.), Hanover Fire, Omega
Feb 4 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and downgraded the issuer credit ratings (ICR) to “aa-” from “aa” of American Family Life Assurance...
People
Jan 11 2009 // Alice A. Molasky Arman joined Western Insurance Co. as senior vice president of government relations. Molasky Arman recently retired from the State of Nevada, where she was recognized as the state’s longest serving...
Ratings Recap: Max America, Professionals Direct, Great Western, Seven Seas
Dec 23 2008 // A.M. Best Co. has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of “a-” to Indiana-based Max America Insurance Company (MAIC) with a positive outlook on both....
Hanover Insurance Completes Acquisition of Specialty Program Writer AIX
Dec 1 2008 // Super regional insurance carrier The Hanover Insurance Group, Inc. has completed the previously announced acquisition of AIX Holdings, Inc. Windsor, Conn.-based AIX Holdings is a specialty property and casualty insurer...
Savaiano Joins The Hanover’s Employment Practices Liability Unit
Nov 12 2008 // Worcester, Massachusetts-based The Hanover Insurance Group Inc. named Helen Ryan Savaiano as vice president, management liability, for the company’s commercial lines business. In this capacity, Savaiano will develop...
Hanover Insurance Posts Q3 Loss But CEO Sees Positive Trends
Oct 31 2008 // Worcester-Mass.-based Hanover Insurance Group Inc. posted a $61.8 million quarterly net loss, as like other insurers it felt the pain of storm and investment losses, but the CEO said his company remains in excellent...
Hanover Insurance Adds Cohen as Regional Vice President in Ohio
Sep 24 2008 // The Hanover Insurance Group, Inc., with offices in Columbus, today announced it has named Bob Cohen to its local field leadership team in Ohio, reinforcing the company’s strong commitment to winning independent...
People
Sep 22 2008 // The Chubb Corp has named Richard G. Spiro executive vice president and chief financial officer, effective Oct. 1. Spiro, 44, succeeds the retiring Michael O’Reilly, who will remain at company until the end of 2008 to...
The Hanover Promotes Crater, Hires Bartolini
Sep 4 2008 // Worcester, Mass.-based The Hanover Insurance Group Inc. has appointed Alan Crater vice president of its Northeast marine team. In addition, Elaine Bartolini has joined The Hanover as assistant regional vice president for...
Business Moves
Sep 1 2008 // Aon, Benfield Chicago-based Aon Corp. is acquiring UK-based broker Benfield Group Limited for about $1.75 billion. The price includes $6.55 (£3.50) per share in cash and assumption of $170 million (£91 million) of...
Business Moves
Sep 1 2008 // Aon, Benfield Chicago-based Aon Corp. is acquiring UK-based broker Benfield Group Limited for about $1.75 billion. The price includes $6.55 (£3.50) per share in cash and the assumption of $170 million (£91...
The Hanover Names Gary Kusumi President of Personal Lines
Aug 15 2008 // The Hanover Insurance Group Inc. named Gary Y. Kusumi president of the company’s personal lines business. Kusumi will oversee the Worcester, Massachusetts-based company’s personal lines operations, including...
Best, S&P See No Change in Hanover’s Ratings on AIX Purchase
Aug 7 2008 // A.M. Best Co. and Standard & Poor’s Ratings Services have both indicated that The Hanover Insurance Group’s agreement to purchase all of the stock of AIX Holdings, Inc. (See related article) is unlikely to...
The Hanover to Acquire AIX Holdings
Aug 6 2008 // The Hanover Insurance Group will acquire Windsor, Connecticut-based specialty insurer AIX Holdings Inc., in a move designed to bolster The Hanover’s product and service capabilities for its agents, the company...
Hanover Insurance Reports Q2 Net Loss with Sale of Life Business
Aug 1 2008 // The Hanover Insurance Group, Inc. in Worcester, Mass. reported a net loss for the second quarter of 2008 of $10.2 million, compared to an income of $59.8 million in the second quarter of the prior year. Net income for the...
Ratings Recap: Hanover, Assurant, Wadena/IMT, Berkshire Hathaway, Finial
Aug 1 2008 // A.M. Best Co. and Standard & Poor’s Ratings Services have both reacted positively to The Hanover Insurance Group’s (THG) announcement that has reached agreement to sell its remaining run-off life insurance...
Hanover Insurance Completes Sale of Remaining Run-Off Life Business
Jul 31 2008 // The Hanover Insurance Group, Inc., in Worcester, Mass., has signed an agreement to sell its remaining run-off life insurance business, First Allmerica Financial Life Insurance Co. (FAFLIC), to Commonwealth Annuity and Life...
Hanover Opens New Branch in North Carolina
Jul 11 2008 // Massachusetts-based The Hanover Insurance Group opened a new office in Charlotte, North Carolina. David Bradford, regional vice president, North Carolina, will continue to lead the company’s efforts in the state. An...
Best Affirms Hanover Group’s Ratings
Jun 13 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Hanover Insurance Group Property and Casualty Companies of Worcester,...
Hanover Group Names Knipfer Regional Vice President, Wisconsin
Jun 4 2008 // The Hanover Insurance Group recently announced that it has strengthened its presence in Wisconsin, naming Andrew R. Knipfer, CPCU, ARM, regional vice president for commercial lines. In this role, Knipfer will oversee all...
