Harleysville, Pa. – Harleysville Group Inc. and Harleysville Mutual Insurance Co. have received all necessary approvals from various state departments of insurance, and have amended their intercompany pooling agreement, effective Jan. 1, 2008. The amendment, which was approved and jointly announced by each company's board of directors on Nov. 26, 2007, adjusts the aggregate share of the pool for the insurance subsidiaries of Harleysville Group to 80%.
All Harleysville property/casualty subsidiaries participate in an underwriting pooling arrangement whereby all premiums, losses and expenses for each individual company's business are shared in a pool. The arrangement, which was established in 1986, is designed to produce more consistent underwriting results over the long term by spreading financial risk among the broad base of pool members.
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