Harleysville Buyout Highlights Directors’ Potential Conflicts

Harleysville Mutual Insurance Co. directors may draw scrutiny for potential conflicts of interest when customers are asked to approve the sale of the company and its Nasdaq-listed subsidiary, Harleysville Group Inc., to Nationwide Mutual Insurance Co.

Michael Browne is chief executive officer of each Harleysville company, and most of the directors serve on both boards. Directors last week approved the companies’ sale on terms that give the publicly traded firm more than twice the valuation of its parent.