The Hanover Completes Acquisition of AIX Holdings

Worcester, Mass. — The Hanover Insurance Group Inc., a regional property/casualty company, has completed the previously announced acquisition of AIX Holdings Inc.

Windsor, Conn.-based AIX Holdings is a specialty property/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 a range of well-defined, under-served markets where there are specialty coverage or risk management needs.

"We are pleased to add AIX Holdings' specialized program business and alternative risk transfer capabilities to our already strong commercial lines portfolio," says Frederick Eppinger, CEO of The Hanover. "This acquisition is the latest of many investments we have made in people, products and technology over the past five years, greatly expanding the capabilities we provide to our agent partners, and helping them to grow their businesses as we grow our own."

Eppinger adds that, through AIX Holdings, The Hanover will be able to meet the growing needs of agent partners, who increasingly are looking to specialize in distinct market segments and deliver more program solutions. AIX Holdings is one of the best carriers serving this market, offering innovative, well managed and disciplined underwriting, with world-class operations and technology, and one of the most experienced and respected management teams in the business, he says.

Source: PR Newswire