In June 2008, The Hanover Insurance Group, Inc. (NYSE:THG) of Worcester, Massachusetts sold its insurance premium finance subsidiary AMGRO, Inc. to Premium Financing Specialists, Inc. (PFS) of Kansas City, Missouri. Terms of the transaction were not disclosed.
PFS is the second largest insurance premium finance company in the United States. AMGRO is the tenth largest premium finance company.
Colonnade Securities LLC served as exclusive financial advisor to The Hanover Insurance Group and AMGRO on the transaction.
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