Harleysville to Buy Penn Mutual Operations

Harleysville Mutual Insurance Company and Penn Mutual Insurance Company have reached an agreement, subject to the approval of the Pennsylvania Insurance Department, whereby Harleysville Mutual will acquire Penn Mutual's operations. Harleysville Mutual owns 56 percent of Harleysville Group Inc. (Nasdaq: HGIC), a publicly traded holding company for nine regional property/casualty insurance companies. "The in-market acquisition of Penn Mutual's operations reinforces our position as a premier insurance provider and marks a step forward in Harleysville's long-term growth strategy. Si...