Article From: "Greg Ryan"   Read full article

The Hanover Insurance Group Inc. has found a buyer for its London-based Chaucer unit, a deal meant to give the insurer more flexibility to grow its business stateside.

Worcester-based Hanover (NYSE: THG) announced Thursday that it had agreed to sell Chaucer to China Reinsurance Corp., also known as China Re, for $950 million.

Hanover first announced in March that it was exploring a sale of Chaucer, which underwrites risks at the insurance market Lloyd’s of London and has policies in more than…