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WORCESTER, Mass., Sept. 14 /PRNewswire-FirstCall/ -- The Hanover Insurance Group, Inc. (NYSE: THG) announced today that it has completed the previously announced acquisition of Professionals Direct, Inc. (OTC Bulletin Board: PFLD) for $23.2 million, as originally disclosed.

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"We are very excited to add this outstanding lawyers professional liability product capability to our commercial lines portfolio," said Frederick H. Eppinger, chief executive officer of The Hanover Insurance Group. "This acquisition is all about helping our independent agent partners meet more of their customers' needs and expand their businesses."

"Over the past four years, we have made tremendous investments in our business, all to ensure that we provide our agent partners with the people, products and services they need to grow their businesses," Eppinger said. "Lawyers professional liability insurance is a natural complement to the types of business our agents are writing in the small- to mid-sized market. It will enable them to write more business with existing customers and to develop new customer relationships, providing the liability coverage by itself or in combination with other coverages."

About The Hanover

The Hanover Insurance Group, Inc. (NYSE: THG), 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 40 property and casualty insurers in the United States.

About Professionals Direct

Professionals Direct, Inc. (OTC Bulletin Board: PFLD), based in Grand Rapids, Michigan, is the holding company for a Professionals Direct Insurance Services and Professionals Direct Insurance Company. Professionals Direct provides lawyers professional liability insurance in more in 36 states. Founded in 1987 as Michigan Lawyers Mutual Insurance Company, Professionals Direct reorganized in 2001 as a stock organization and expanded to achieve a national presence in its professional liability niche.

    CONTACTS:
    Investor Relations      Media Relations
    Sujata MutalikMichael Buckleysmutalik@hanover.commibuckley@hanover.com
    (508) 855-3457          (508) 855-3099

SOURCE The Hanover Insurance Group, Inc.