Harleysville Completes Penn Mutual Deal

Harleysville Mutual Insurance Company announced yesterday that effective January 1, 2003, it has completed the in-market acquisition of Penn Mutual Insurance Company'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. "We're pleased to have finalized this transaction, which marks another step in Harleysville's long-term growth strategy, and reinforces our position as the premier provider of insurance products and services for small businesses and indi...