As a specialist Lloyd's insurance group, Chaucer is subject to a number of specific risk factors and uncertainties, including without limitation: its reliance on insurance and reinsurance brokers and distribution channels to distribute and market its products; its exposure to currency risks and fluctuations since a significant proportion of Chaucer's business is conducted in various currencies; its obligations to maintain funds at Lloyd's to support its underwriting activities; its riskbased capital requirement being assessed periodically by Lloyd's and being subject to variation; its reliance on ongoing approvals from Lloyd's, the Financial Services Authority and other regulators to conduct its business; its obligations to contribute to the Lloyd's New Central Fund and pay levies to Lloyd's; its ongoing ability to benefit from the overall Lloyd's credit rating; its ongoing ability to utilize Lloyd's trading licenses in order to underwrite business outside the United Kingdom; its ongoing exposure to levies and charges in order to underwrite at Lloyd's; and the requirement for it to maintain deposits in the United States for US site risks it underwrites.
This press release does not constitute a solicitation or an offer to sell any debt or other securities of The Hanover or of Chaucer.
Responsibility Statement under United Kingdom Rules of the Takeover Panel
The Hanover Directors and the 440 Tessera Limited Directors (all of whose names will be set out in the Scheme Circular filed under rules of the UK Takeover Panel) accept responsibility for the information contained in this announcement relating to Hanover, The Hanover Group and themselves and their immediate families, related trusts and connected persons. To the best of the knowledge and belief of The Hanover Directors and the 440 Tessera Limited Directors (who have taken all reasonable care to ensure that such is the case), such information for which they are responsible is in accordance with the facts and does not omit anything likely to affect the import of such information.About The Hanover The Hanover Insurance Group, Inc., based in Worcester, Mass., is the holding company for a group of insurers that includes The Hanover Insurance Company, also based in Worcester, Citizens Insurance Company of America, headquartered in Howell, Michigan, and their affiliates. The Hanover offers a wide range of property and casualty products and services to individuals, families and businesses through an extensive network of independent agents, and has been meeting its obligations to its agent partners and their customers for more than 150 years. Taken as a group, The Hanover ranks among the top 25 property and casualty insurers in the United States. Contacts: Investors: Oksana Lukasheva(508) 855-2063Email: firstname.lastname@example.org Media: Michael F. Buckley(508) 855-3099Email: email@example.com Amy Banek508-855-4486Email: firstname.lastname@example.org SOURCE The Hanover Insurance Group, Inc.
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