NU Online News Service, Sept. 29, 9:42 a.m. EDT
Nationwide Mutual Insurance Co. will acquire Harleysville Mutual Insurance Co. in a deal valued at around $800 million, the companies announced today.
“This combination brings together two best-in-class companies that share a mutual heritage and a focus on meeting the long-term needs of our policyholders,” says Steve Rasmussen, chief executive officer of Nationwide. “With Harleysville's expertise in commercial lines and Nationwide's complementary geographic distribution, there will be a substantial opportunity to increase market share, while also providing our combined agents and customers access to a broader portfolio of insurance, financial and banking products.”
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