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FOR IMMEDIATE RELEASE
OLDWICK - MAY 23, 2016 03:55 PM (EDT)
On May 19, 2016, A.M. Best affirmed the financial strength rating of A (Excellent) and the issuer credit ratings of “a” of the subsidiaries of the parent holding company, The Hanover Insurance Group, Inc. (THG) [NYSE: THG], which includes Professionals Direct Insurance Company (Professionals Direct). These companies are collectively referred to as Hanover Insurance Group Property and Casualty Companies (The Hanover). The outlook for each of these ratings is stable. The aforementioned companies are headquartered in Worcester, MA. Subsequently, A.M. Best has withdrawn the ratings of Professionals Direct following management’s request to no longer have the company participate in A.M. Best’s interactive rating process.
Professionals Direct, which was part of an intercompany 100% reinsurance arrangement with Hanover Insurance Company, is currently a shell company that holds several state licenses.
This press release relates to rating(s) that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source.