The Hanover Insurance Group Inc. and AIX Holdings Inc. announced that they have entered into a definitive agreement through which The Hanover will purchase all of the stock of AIX Holdings.The Windsor, Conn.-based AIX Holdings is a specialty property and casualty insurance carrier that focuses on underwriting and managing program business, utilizing alternative risk transfer techniques. AIX Holdings has developed general liability, workers' compensation, property, and auto liability programs for a range of well-defined, under-served markets where there are specialty coverage or risk management needs.
The transaction is subject to regulatory reviews and approvals. It is expected to close during the fourth quarter of this year.
The planned acquisition of AIX Holdings follows two other acquisitions The Hanover has made in recent months to build out its product and service capabilities for its agent partners. In September 2007, The Hanover acquired Professionals Direct Inc., adding a distinctive offering of professional liability insurance for small and mid-sized law practices to its broad suite of commercial and specialty products. Earlier this year, the company purchased Verlan Holdings Inc., which provides insurance for manufacturers and distributors of chemical-related products.
.jpg)
No comments:
Post a Comment