New Hampshire Insurance Company

The New Hampshire Insurance company is a completely owned subsidiary of the Chartis Group. The Chartis Group is also an owned company by an insurance Giant known as the AIG Group. The company moved to New York from New Hampshire and was licensed to sell Insurance coverage to a lot of Northeastern states. The company was in business for more than 100 years and now is owned by most prominent Insurance Giant and that led to the discontinuation of the original company and the sale of policies under that name. The company was successful until its last business years and was a preferred insurance company.

The New Hampshire Insurance Company- History

The New Hampshire Insurance Company was incorporated in the year 1862. It was in business for close to 100 years before the company was bought by the Chartis group. The company has a total asset standing of over $ 4.5 billion at the time of acquisition. The New Hampshire Insurance Company is now rated along with the owner company and is rated A plus as the Chartis enjoys a good ranking status. The A.M. Best Financial rating Company that is known for rating Insurance companies has rated Chartis and its Subsidiaries with an ‘A’ which ensures that the company has firm financial ground.

The New Hampshire Insurance Company- Products and services

The New Hampshire Insurance Company when in operation dealt in property and casualty insurance which would insure properties for both residents and businesses in the New England area. The company policy has undergone a huge change and the new policies are in consensus to the parent company- Chartis Group. This happened as when the company was bought existing policies were changed and the insurance group Chartis undertook the policy generation process and the policies under the name of the New Hampshire Insurance Company was brought to a sudden halt. The New Hampshire Insurance Department, which was established in the year 1851 was the guiding authority which was responsible for many policies with the New Hampshire Insurance Company. The RSA 400-A provides all the provisions of the Insurance laws that led the New Hampshire Insurance Company policies.

What happened to the New Hampshire Insurance Company

Like many Insurance companies that has limited operation even with a strong clientele and business, the 2008-2009 economic downturn brought a bad result. The small Insurance companies had to face existing crisis and the result was that companies started selling out or merging with the bigger giants which were in a better capacity to run even through the crisis. The New Hampshire Insurance Company was no different and was bought out by a large giant, Chartis Group. The former customers are taken care of by the new Giants but had to face a policy change as the old policies ceased to exist.