Worcester insurance co. to transfer domicile
Following approval to move the corporate domicile of Harleysville Worcester Insurance Co. to Pennsylvania, the company has announced that staff increases may occur in the Worcester office, after previous reports said the company would reduce its staff there.
In December, former Massachusetts Insurance Commissioner Julianne Bowler approved the redomestication of the Worcester office, which is a subsidiary of PA-based Harleysville Insurance Group. Officials requested the transfer in an effort to lower administrative and actuarial costs.
Harleysville Worcester will now be examined by the Pennsylvania Insurance Dept. along with seven other subsidiaries owned by the company. The company does not expect the move to affect policyholders or agents, and it may represent an increase in the staff of the Worcester office, despite an earlier report from the Insurance Journal incorrectly stating that staff reductions would occur.
The firm's offices are located at 120 Front St. in Worcester.
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