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A Letter from the President:

June 10, 2010

TO ALL HINGHAM AGENTS

The Hingham Group has some exciting news to share with you.  Hingham Mutual Fire Insuance Company ("Hingham") has entered into an affiliation agreement with New London County Mutual Insurance Company ("NLC") of Norwich, CT.  This agreement is subject to regulatory and policyholder approval; and it is anticipated that the closing will take place in the third quarter of 2010.  NLC has an A.M. Best Company rating of A- (Excellent).

This planned affiliation will bring together two New England based mutual insurance groups (NLC Insurance Companies and The Hingham Group) with long and distinguished histories, which we believe will allow us to better meet the needs of agents and policyholders in the future.  By affiliating, our two groups will preserve our unique heritage, while taking advantage of all the benefits obtained through scalability, operational efficiencies, and shared resources.  Also, upon closing, Hingham will enter into a reinsurance pool with NLC and its subsidiary, Thames Insurance Company.  Management of both companies believe that adding these two groups together is a case of the whole being greater than the sum of the parts.

Upon approval of the affiliation, I will continue to serve as President of Hingham.  Steve H. Chevalier, the current president of NLC, will assume the role of Chief Executive Officer of Hingham.

Management believes that the proposed affiliation will create a stronger, more stable company to help you grow your book of business.  The new group will expand its capital base to over $100 million in surplus, enhancing our ability to meet policyholder obligations.  The new group will also provide us with improved agency automation and functionality, which we believe will make it easier for you to do business with us going forward.

I want to thank all of you for the patience and loyalty you have shown us over the past few months as we have moved through this process.  Once our agreement receives regulatory and policyholder approval, we will provide you with more information about how we will work together under the new structure.  If you have questions we have not answered or comments you would like to share with me, please do not hesitate to email me at george.cole@hinghammutual.com or call me at 1-800-341-8200.

Sincerely,

George A. Cole, III

President & Treasurer

The Hingham Group

 

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