Hanover is Exploring Strategic Alternatives for its International Specialty Business
The Hanover Insurance Group, Inc. (NYSE: THG) today confirmed it is undertaking a review of strategic alternatives, including a possible sale, for London-based Chaucer, its international specialty insurance business. The company has retained Goldman Sachs & Co., LLC. to serve as its adviser through the process.
The Hanover declined to provide additional details.
Certain statements in this release, including statements regarding a possible sale, are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The company has not yet determined the best strategic alternative. There are no assurances that The Hanover will proceed with a transaction, and if it elects to do so, whether a sale will be consummated, the value or use of any consideration that would be received, or that any potential benefits would be realized. The Company cautions investors that any such forward-looking statements are not guarantees of future performance or activity, and actual results could differ materially. Investors are directed to consider the risks and uncertainties of any such transaction and of the businesses of the company and Chaucer, including those discussed in readily available documents, including the Company’s annual report and other documents filed by The Hanover with the Securities and Exchange Commission and which are also available at hanover.com under “Investors.”