The Hanover Insurance Group, Inc.’s board of directors has authorized the previously announced share repurchase program of up to $200 million funded from the proceeds from the sale of its life insurance subsidiary, Allmerica Financial Life Insurance and Annuity Company to The Goldman Sachs Group, Inc.
The sale of AFLIAC is expected to occur on December 30, 2005. The related and previously announced AIT fund reorganization and sale of the AIT funds’ investment advisory company are expected to occur on January 6, 2006.
The share repurchase program is currently expected to be substantially completed in the first half of 2006.
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