Worcester, Massachusetts-based insurer The Hanover Insurance Group Inc. will acquire The Campania Group, a medical and general liability insurer for the health care industry.
Terms of the deal were not disclosed.
The Campania Group, based in Vienna, Virginia, provides professional and general liability insurance for a range of health care providers, including durable medical equipment suppliers, behavioral health specialists, elder care providers and podiatrists. Campania has companies admitted in 21 states and the District of Columbia.
“The acquisition represents a significant commitment toward broadening our professional lines portfolio,” said Frederick H. Eppinger, chief executive officer of The Hanover. “Through the continued strategic expansion of our capabilities into the healthcare segment, we are offering our agent partners even more distinctive products and solutions, helping them to strengthen their competitive position in their markets and to grow their businesses while we grow our own.”
The acquisition of Campania follows The Hanover’s announcement last month that it has expanded in the west and entered into a renewal rights agreement with OneBeacon Insurance Group, acquiring access to $400 million in small- and middle-market commercial business at renewal, and expanding The Hanover’s segment, niche and industry program business.
“We are thrilled to be joining The Hanover Insurance Group,” said Dennis R. Santoli, president and founder of Campania. “We are confident that the combination of our experienced underwriters, claims managers and risk managers, coupled with The Hanover’s experience, resources, and independent agency network will help us to be even more successful over the long term.”
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