Harleysville Insurance, Nationwide to combine
News from The Times Herald:

Nationwide Mutual Insurance Company and Harleysville Mutual Insurance Companyand Harleysville Group Inc. announced today that they have entered into a definitive agreementunder which Harleysville will combine with Nationwide.

Under the terms of the agreement, Harleysville Mutual policyholders will become policyholders and members of Nationwide Mutual, and Nationwide Mutual will acquire all of the publicly held shares of common stock of Harleysville Group for $ 60 per share in cash.

The combined organization, which will have an estimated net surplus of more than $ 13.5 billion and over $ 16 billion in annual direct written premiums, will be well positioned for growth, company officials said.

“This combination brings together two best-in-class companies that share a mutual heritage and a focus on meeting the long-term needs of our policyholders,” said Steve…………… continues on The Times Herald

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