UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date
of Report
(Date of earliest event reported)
May
22, 2008
THE COMMERCE GROUP,
INC.
(Exact
name of registrant as specified in its charter)
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Massachusetts |
001-13672 |
04-2599931 |
|
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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211 Main Street, Webster, Massachusetts 01570 |
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(Address of principal executive offices) (Zip Code) |
Registrant's telephone number, including area code: (508) 943-9000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
The Commerce Group, Inc.
Form 8-K
May
22, 2008
Section 8. Other Events
Item
8.01 Other Events.
On May 22, 2008, The Massachusetts Division of Insurance issued a
Decision and Order approving the application by Mapfre, S.A. (“Mapfre”)
and its Ultimate Controlling Person, Fundacion Mapfre, to acquire
control of The Commerce Insurance Company and Citation Insurance
Company, Massachusetts domestic insurance companies and wholly owned
indirect subsidiaries of The Commerce Group, Inc. (“Commerce Group”)
(NYSE:CGI).
A copy of the Division’s Decision and Order can be found on the
Division's Web site. A direct link to a copy of the Decision and Order
is http://www.mass.gov/Eoca/docs/doi/Legal_Hearings/F2008-01.pdf. This
information, including the Web site link, shall not be deemed "filed"
for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended, or otherwise subject to the liability of that section.
The Mapfre acquisition is subject to approval by the regulators in the
states of New York, Ohio and California, where Commerce Group’s three
other insurance companies are domiciled. The acquisition is scheduled to
close within five business days following receipt of all such state
approvals.
We continue to expect the acquisition to close during the second quarter
of 2008.
Forward-Looking Statements
It should be noted that this release might contain certain statements
that may be considered forward-looking statements. The Commerce Group,
Inc. refers you to its Form 8-K filed March 19, 2008 and its 2007 Form
10-K filed February 29, 2008 for a description of the Company's business
environment and important other factors that may affect its business,
including its language regarding forward-looking statements.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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THE COMMERCE GROUP, INC. |
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May 22, 2008 |
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/s/ Randall V. Becker |
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Randall V. Becker |
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Senior Vice President and Chief Financial Officer |