The Hanover Insurance Group Inc. has entered into a definitive agreement through which it will acquire Campania Group, which specializes in insurance solutions for the health care industry. The transaction reaffirms The Hanover's commitment to continue to provide industry-leading specialty insurance solutions to its partner agents, and represents a significant step in the company's commitment to offer a range of products for the health care industry, the insurer says.
The Campania Group provides professional and general liability solutions for a range of health care providers, including durable medical equipment suppliers, behavioral health specialists, eldercare providers, and podiatrists. The organization has served the specialty health care insurance market since its founding in 1992 and has companies admitted in 21 states, as well as the District of Columbia.
"We are excited to add the Campania Group to our growing suite of industry and niche solutions. At the same time, the acquisition represents a significant commitment toward broadening our professional lines portfolio," says Frederick Eppinger, CEO of The Hanover. "Through the continued strategic expansion of our capabilities into the health care segment, we are offering our agent partners even more distinctive products and solutions, helping them to strengthen their competitive position in their markets and to grow their businesses while we grow our own."
The acquisition of Campania follows the company's announcements last month that it has expanded in the west and entered into a renewal rights agreement with OneBeacon Insurance Group, acquiring access to $400 million in small and middle market commercial business at renewal, and expanding The Hanover's segment, niche and industry program business. These, and other recent investments, reflect The Hanover's aggressive agenda to offer winning independent agents the products, tools and local resources that they need to thrive. Over the past five years, the company has launched more than 30 products and programs, purchased three other specialty insurance providers, and built industry and niche solutions for nearly a dozen new markets.
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