A.M. Best Comments on The Hanover Insurance Group, Inc.'s Proposed Sale of First...
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A.M. Best Comments on The Hanover Insurance Group, Inc.'s Proposed Sale of First Allmerica Financial Life Insurance Company OLDWICK, N.J.--(Business Wire)-- A.M. Best Co. has commented that all ratings and outlooks of The Hanover Insurance Group, Inc. (THG) (NYSE:THG) and its property/casualty insurance members remain unchanged following the announcement that it has entered into a definitive agreement to sell First Allmerica Financial Life Insurance Company (FAFLIC) to the Goldman Sachs Group, Inc. THG and FAFLIC are both domiciled in Worcester, MA. This transaction is expected to close by the end of 2008, subject to regulatory approval. Other than transaction costs and related charges, A.M. Best anticipates minimal residual impact to THG's earnings or risk-adjusted capitalization. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. A.M. Best Co. Analysts Frederick DeLeon, 908-439-2200, ext. 5175 frederick.deleon@ambest.com or Gary Davis, 908-439-2200, ext. 5665 gary.davis@ambest.com or Public Relations Jim Peavy, 908-439-2200, ext. 5644 james.peavy@ambest.com or Rachelle Morrow, 908-439-2200, ext. 5378 rachelle.morrow@ambest.com Copyright Business Wire 2008
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