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Pennsylvania Approves Harleysville-Nationwide Merger

Pennsylvania Insurance Commissioner Mike Consedine announced today that the merger application for Harleysville Mutual and Nationwide Mutual insurance companies has been approved
April 17, 2012

Pennsylvania Insurance Commissioner Mike Consedine announced today that the merger application for Harleysville Mutual and Nationwide Mutual insurance companies has been approved. This combined entity will have a greater statewide presence and offer more product selection to consumers. “Harleysville and Nationwide have complementary product lines, and together the companies offer more choices to policyholders,” Consedine said. “I also applaud Nationwide’s decision and commitment to preserve the Harleysville culture and to keep jobs here in Pennsylvania.”

The merger agreement is not final until it is adopted by a majority vote of Harleysville Mutual members (in person, by proxy, by phone or Internet) at a special meeting that is to be held later this month. Michigan, Ohio, and New Jersey must also approve the merger. Nationwide Mutual Insurance Company, based in Columbus, Ohio, has direct written premium of more than $3.4 billion. Harleysville Mutual has operated since 1917 and has more than $355 million in direct written premium primarily in the Eastern and Midwestern United States.

Read the full article on the Harleysville-Nationwide merger: PA Insurance Dept. Approves Nationwide, Harleysville Merger (PA DOI 4/16/12)

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