Allmerica Financial Corp., in a move it said reflects its exclusive focus on property and casualty business, will change its name to The Hanover Insurance Group Inc. on Dec. 1.
While the name change will be formally effective Dec. 1, the company said it will begin a broad rebranding campaign immediately. A spokesman for Allmerica, Todd Peckham, said the firm has budgeted $1 million for the brand change activity.
The Worcester, Mass.-based company, which currently trades under the New York Stock Exchange symbol AFC, said it will then trade as THG.
In addition to its name change, Allmerica said it also will adopt a new corporate logo and tagline. It said the logo consists of the company name in type and a stylized eagle taken from Allmerica's current identity. The new tagline is "Our Policy is Performance."
Frederick H. Eppinger, Allmerica's president and chief executive officer, explaining the change said, "Over the past two years, we have created a very distinctive, super-regional property and casualty company--one that provides our agent partners and their customers with the product and service capabilities of a larger company and the energy and responsiveness of a smaller company."
"With that foundation now firmly in place, it is time to re-introduce our company to our agents and customers, reinforcing our commitments to them and building a brand that reflects our strength and experience."
The Allmerica holding company group includes Hanover Insurance Company, also in Worcester, and Citizens Insurance Company of America, based in Howell, Mich. Hanover was founded in 1852.
In Michigan, the company said it will continue to lead with the Citizens name and will identify Citizens as a company of The Hanover Insurance Group.
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