Narragansett Bay Insurance Co., a member of Pawtucket Insurance Group, has agreed to take over the Rhode Island homeowners insurance business of Hanover Insurance Co.
The transaction involves approximately 1,500 Rhode Island homeowners represented by 72 independent insurance agents and is expected to commence with the December, 2006 renewals.
Stewart H. Steffey, Jr., chief executive officer, Narragansett Bay Insurance Co., said, “This transaction is in line with our goal of becoming a leading provider of specialty personal lines products in the northeastern United States.” The company underwrites homeowners, dwelling fire and family dwelling insurance policies.
Narragansett Bay currently underwrites homeowners insurance in Rhode Island and New York and is expanding to other New England states.
Source: Narrangansett Bay
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