Hanover Insurance Completes Acquisition of Specialty Program Writer AIX

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 that underwrites and manages program business, utilizing alternative risk transfer techniques. AIX Holdings has developed general liability, workers’ compensation, property, and auto liability programs for markets where there are specialty coverage or risk management needs.

AIX, founded in 2005, had gross written premiums of $85 million in 2007, and has an “A-” (Excellent) rating with A.M. Best Co. AIX Holdings employs approximately 150 people in four locations.

Frederick H. Eppinger, chief executive officer of the Worcester, Mass.-based Hanover, said that, through AIX Holdings, Hanover will be able to meet the growing needs of agent partners, who increasingly are looking to offer more programs.

Source: The Hanover Insurance Group, Inc.
www.hanover.com

Topics Mergers & Acquisitions Excess Surplus