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The lead companies in the group, Hanover Insurance, founded in 1852, and Citizens Insurance, founded in 1915, market personal and commercial property and casualty insurance to individuals, families and businesses, primarily in the Northeast, Southeast. shares jumped as much as 12% Tuesday after the company announced the final step in a three-year reorganization that's transformed the. shares jumped as much as 12% Tuesday after the company announced the final step in a three-year reorganization that's transformed the. Oct 31, 2005 · Allmerica is a holding company for a group of insurance companies including The Hanover Insurance Company, headquartered in Worcester, Mass. 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