The Hartford to takeover Foremost unit.
Global Banking News-February 20, 2018--The Hartford to takeover Foremost unit
(C)2018 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 20 February 2018
The Hartford, Hartford Financial Services Group Inc (NYSE: HIG), is to take over Foremost Insurance-branded small commercial lines business from Foremost's parent firm, Farmers.
The deal will see The Hartford acquiring the renewal rights on USD200m in small commercial lines premium sold through about 5,000 independent agents and brokers. The business consists of the three primary lines of business underwritten by Foremost Insurance Group.
The transaction marks the exit of Foremost Insurance Group from the commercial lines business to focus on its personal lines business. Farmers is to continue to write commercial lines accounts under the Farmers brand with its exclusive agents.
[Editorial queries for this story should be sent to firstname.lastname@example.org]
((Distributed via M2 Communications - http://www.m2.com))