The Hanover Insurance Group, Inc. reports it has completed the previously announced acquisition of Professionals Direct, Inc. for $23.2 million. Professionals Direct’s companies specialize in lawyers professional liability insurance.
“Lawyers professional liability insurance is a natural complement to the types of business our agents are writing in the small- to mid-sized market. It will enable them to write more business with existing customers and to develop new customer relationships, providing the liability coverage by itself or in combination with other coverages,” said Frederick H. Eppinger, chief executive officer of The Hanover Insurance Group.
Professionals Direct, Inc., based in Grand Rapids, Michigan, is the holding company for a Professionals Direct Insurance Services and Professionals Direct Insurance Co. Professionals Direct provides lawyers professional liability insurance in more in 36 states. Founded in 1987 as Michigan Lawyers Mutual Insurance Co., Professionals Direct reorganized in 2001 as a stock organization and expanded nationally.
Source: The Hanover Insurance Group, Inc.
Topics Mergers & Acquisitions Carriers
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