Hanovers Inc history

1855 - Tradition of community giving begins with a donation to the NYC Widows and Orphans Fund.

1864 - America expands West.

1871 - The Great Chicago Fire destroys more than three square miles of the city, resulting in losses of $3 billion at present day value.

1886 - The Hanover appoints its first agent in London, UK.

1911 - Company charter expands to write other lines of insurance, including marine and automobile.

1915 - The Hanover's Citizens brand underwrites the first auto policy in Michigan.

1921 - The Hanover increases its international presence and appoints one of the first insurance agents in China.

1935 - The Hanover doesn't lay off a single employee during the Depression and continues to pay dividends to its shareholders.

1958 - Changes name from The Hanover Fire Insurance Company to The Hanover Insurance Group to reflect a broader product range.

1969 - Moves headquarters from NYC to its present day home office in Worcester, Massachusetts.

1974 - Purchases all shares of Citizens Mutual Insurance Company and makes it a member of The Hanover Insurance Companies.

The corporation added First Pennsylvania Corporation in 1980.

Formation of Hanover Compressor Company: 1990

In 1991 Manufacturers Hanover Corporation merged with Chemical Banking Corporation and assumed the latter’s name.

Hanover formalized its compressor business in 1992, creating a common logo for its regional companies while standardizing operations.

Then in May 1996 Hanover paid nearly $2 million in cash for compressor units of Cactus Compression.

Hanover went public in July 1997 and its stock began trading on the New York Stock Exchange.

Exceptional growth for the company continued in 1998, as sales approached $282 million and net income topped $30.3 million.

Deaton took immediate steps to shore up Hanover's reputation, calling on 38 senior managers to sign disclosure statements that revealed some further transactions, completed in 1999, that might be deemed questionable.

2001: Schlumberger's natural gas compression business is acquired for $761 million.

2002: Shakeup in upper management occurs following accounting scandal.

2003: Landmark settlement ends shareholder suit. natural gas compression businesses of New York energy services giant Schlumberger Ltd. for $761 million.

2009 - Acquires commercial business from OneBeacon Insurance Group, which enables rapid Western United States expansion.

2013 - The Hanover crosses the $5 billion written premium threshold for the first time in its history and is writing business in 179 countries.

2017 - John C. Roche, a longtime Hanover executive and industry veteran, is appointed president and chief executive officer.

2019 - In a business characterized by pervasive change, the company continues to post strong profitable growth and generates a top-quartile return on equity.