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The Hanover Snaps Up Chaucer In $510M Deal

Law360 (April 20, 2011, 6:24 PM EDT) -- The Hanover Insurance Group Inc. announced a £313 million ($510 million) offer Wednesday to acquire Chaucer Holdings PLC, a member of the Lloyd's of London insurance group, that expands the insurer's business beyond U.S. borders.

Under the terms of the deal, Massachusetts-based The Hanover would acquire 100 percent of London-based Chaucer, which has regional operations in Whitstable, England, as well as international offices in Houston; Singapore; Buenos Aires, Argentina; and Copenhagen.

The Hanover CEO Fredrick H. Eppinger said the deal would allow the company to advance...
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