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Hanover Insurance Company: The Hanover Insurance Group (THG) (1852)

Hanover Insurance Company (Hannover Insurance Company) The Hanover Insurance Group, Inc. (NYSE: THG) was founded in 1852 and is headquartered in Worcester, Massachusetts, USA, with 4,900 full-time employees. It is a company that provides various properties in the United States and internationally. Insurance company with accident insurance products.

The Hanover Insurance Group Logo

The Hanover Insurance Group (THG):

Hanover Insurance Company provides various property and accident insurance products and services in the United States and internationally through its subsidiaries. Hanover Insurance Group is divided into 4 departments to operate: Commercial Lines, Personal Lines, Chaucer and other.

  1. Commercial insurance department : provides insurance products for commercial comprehensive insurance policies, commercial vehicles, employee compensation, professional scheme companies, inland transportation, management and specialized occupational accident liability, guarantees and umbrellas, single-line general accident liability, professional property, and mixed commercial property insurance.
  2. Personal insurance business : provide personal car and homeowner insurance items, as well as other personal insurance items, including personal inland transportation, umbrella, fire, personal water transportation, earthquake and other mixed insurance items.
  3. Chaucer business department : provide navigation and aviation, energy, property, automobile, international accident liability, expert insurance project and join joint enterprise.
  4. Other business sectors : selling investment management and consulting services to companies, pension funds and other organizations.

Historical evolution of The Hanover Insurance Group (THG):

  • In 1852, The Hanover Fire Insurance Company was founded as the predecessor of The Hanover Insurance Group;
  • In 1958, the company name was changed from The Hanover Fire Insurance Company to The Hanover Insurance Group;
  • In 1974, all shares of Citizens Mutual Insurance Company were acquired;
  • In 1994, Hanover Insurance changed its name to Allmerica Property & Casualty Companies, Inc., and was transferred to the New York Stock Exchange from Nasdaq, with a new stock code: APY;
  • In 1995, Allmerica Property & Casualty Companies, Inc. divested Allmerica Financial Corporation (AFC), and AFC held approximately 60% of the former;
  • On October 11, 1995, Allmerica Financial Corporation landed on the New York Stock Exchange, stock code: AFC;
  • By 1997, Allmerica Property & Casualty Companies had become the top 30 property and casualty insurance company in the United States, with two subsidiaries: Citizens Corporation and The Hanover Insurance Company;
  • On February 20, 1997, Allmerica Property & Casualty Companies, Inc. announced that it had accepted the acquisition offer of Allmerica Financial Corporation (AFC)-AFC acquired the remaining 40.5% of Allmerica P&C for US$800 million. The transaction was completed in the third quarter of the same year. Allmerica Property & Casualty Companies was delisted from the New York Stock Exchange;
  • On December 1, 2005, Allmerica Financial Corporation changed its name to The Hanover Insurance Group, Inc. (Hanover Insurance Company), which is the parent company of Hanover Insurance and Citizens Insurance;
  • The former Allmerica Financial Corporation’s variable life and variable annuity insurance business bolo established CommonWealth Annuity and Life Insurance Company (a Goldman Sachs company);
  • In 2008, The Hanover Insurance Group acquired AIX Group.;
  • In January 2009, CommonWealth Annuity and Life Insurance Company acquired First Allmerica Life Insurance Company (FAFLIC) from Hanover Insurance Company;
  • In 2009, acquired the commercial insurance business of OneBeacon Insurance Group;
  • In 2011, The Hanover Insurance Group acquired Chaucer Holdings in London, England.
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