Nationwide To Acquire Harleysville Insurance for $1.63B

I thought this article would be important for our insurance agents.  Harleysville and Allied are both partnership carriers of Midwest Insurance Agency Alliance (MIAA).  What are your thoughts of this merger?  How do you think it will affect our insurance agency group? Article By MARK E. RUQUET, PROPERTYCASUALTY360.COM  Nationwide Mutual Insurance Co. will acquire Harleysville Mutual Insurance Co. for $1.63 billion, the companies announced today.

“This combination brings together two best-in-class companies that share a mutual heritage and a focus on meeting the long-term needs of our policyholders,” says Steve Rasmussen, chief executive officer of Nationwide. “With Harleysville’s expertise in commercial lines and Nationwide’s complementary geographic distribution, there will be a substantial opportunity to increase market share, while also providing our combined agents and customers access to a broader portfolio of insurance, financial and banking products.” For the rest of the article click http://www.propertycasualty360.com/2011/09/29/nationwide-to-acquire-harleysville-insurance-for-1