The Hanover Insurance Group has completed the previously announced acquisition of Verlan Holdings of Silver Spring, Maryland, for $29 million.
Verlan Holdings is the parent company of Verlan Fire Insurance Company, and Coatings Industry Services. Verlan Fire Insurance Company is a property insurer providing coverage to industrial risks which are generally classified as highly protected risks. Coatings Industry Services is a program manager and wholesale agency offering a wide variety of property and casualty coverages to the same types of industrial risks served by Verlan Fire Insurance Company.
Frederick Eppinger, CEO of The Hanover Insurance Group, said: We are pleased to add Verlan’s specialized product and service capabilities to our commercial lines portfolio, enhancing our ability to deliver distinctive value to our agent partners and shareholders.