Worcester’s Hanover Insurance Big Mover in Globe 100

Hanover Insurance Group of Worcester jumped from 69 to Number 5 on the Globe 100 list this year.  It also topped the list of Financial Industry companies on the list.  Attributing it’s success to a conservative investment strategy Hanover Insurance seemed to be ahead of the rest of us in its views of the equity markets.

Last year we reported that 3 companies (should have been 5) had made the list in Worcester County including Hanover.  This year Tech/Ops Sevcon dropped off of the list.

Though Double-Take Software of Southborough is still on the list this year they recently entered into an agreement with California based Visions Solutions which would have them being bought out this year.  Hopefully that won’t mean a loss of jobs.

This year’s list of the top Worcester County based public companies is:

• Hanover Insurance Number 5 Based in Worcester
• Double-Take Software Number 63 Based in Southborough
• Arrythmia Research Technology(ART) Number 73 Based in Fitchburg
• IPG Photonics Corp. Number 81 Based in Oxford

As mentioned before Hanover jumped to 5 from 69.  Double-Take dropped from 46 to 63.  Arrythmia Research jumped to 73 from 93 and IPG Photonics dropped from 21 to 81.

ART produces signal averaging, cardiovascular and hemodynamics products.  For us laypeople I would just say EKG type of stuff.  Based in Fitchburg it has been around since 1981.  It placed 6th in the Medical Device company list.

IPG which is based in Oxford still made it on the list though it dropped from 21 last year.  It placed 7th on the Telecommunications list which is led by Cambridge based Akamai.  IPG is a provider of high power fiber lasers and fiber amplifiers used in telecommunications as well as other applications.

Thought ART does not appear to have career and job related information on their website.  Hanover, Double-Take and IPG do.  As of this writing IPG has 7 openings listed on their website for jobs in Oxford.  Hanover has 33 openings listed in Worcester and Double-Take has one for a Marketing related position based in Southborough.

For more information on the Globe 100 visit their website.  It will be interesting to see how things shake out next year but I for one am impressed at Hanover’s jump.  It plays such a big role in the Worcester economy even by helping to move the CitySquare project forward.