Vermont’s insurance regulator will hold a public hearing on September 9 to consider the proposed acquisition of Union Mutual Fire Insurance Co. by Norfolk & Dedham (N&D) Group, a Massachusetts-based mutual insurer. Filed in April, the proposal outlines that N&D would acquire Union Mutual and its subsidiary, New England Guaranty Insurance Co. If approved, the merger would form a new board of directors, and the combined entity would write personal and commercial insurance lines across eight states. The merger would bring together $596 million in direct written premiums and $580 million in policyholder surplus, with about 250 employees and 600 independent agents. Community Mutual Insurance Co., an affiliate of Union Mutual, is not part of this restructuring. There are no planned staff reductions, and each firm will maintain its current headquarters. The union aims to strengthen product offerings and services for members.
Insurance, Financial Services,United States, Northeast United States
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