Harleysville Group at Historical High Yield of 4.7%

Posted June 20, 2011

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Harleysville Group (HGIC), hardly a household name, is a Pennsylvania-based multi-line insurance company. The company was formed as a group membership in 1915 to insure each member's car, and two years later became a state charter with the new names of The Mutual Auto Theft Insurance Company and the Mutual Auto Fire Insurance Company. Two separate entities were required then because state laws prevented the same company from offering two types of protection. In 1956, the name was changed to the Harleysville Mutual Insurance Company. Harleysville Life Insurance Company was founded in 1960 to offer individual and group life insurance, disability insurance and retirement plans. In 1986, it became a public company, and in 2001 the name became the Harleysville Group.

Today the Harleysville Group employees 1,700 employees and is represented by 1,300 agencies in 32 states, providing a variety of insurance-related products and services, including property, casualty and life insurance. Harleysville has consolidated assets of $4.0 billion and net written premiums over $1.1 billion. It's ranked as one of the top 70 property/casualty insurance companies and groups, according to A.M. Best Company. READ FULL ARTICLE

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