UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-13754 THE HANOVER INSURANCE GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 04-3263626 (State or o ...

The Hanover Insurance Group, Inc. Third Quarter 2020 Results October 28, 2020 To be read in conjunction with the press release dated October 27, 2020 and conference call scheduled for October 28, 2020 Third Quarter 2020 Operating Highlights The Hanover Reports Third Quarter Net Income and Operating Income(1) of $3.13 and $2.46 per Diluted Share, Respectively; Combined Ratio of 94.2%; Combined Ratio, Excluding Catastrophes(2), of 88.4%; Enters into a $100 Million Accelerated Share Repurchase Agreement • Curr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-13754 THE HANOVER INSURANCE GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 04-3263626 (State or other ...

The Hanover Insurance Group, Inc. (NYSE:THG) Q2 2020 Earnings Conference Call July 29, 2020 10:00 AM ET Company Participants Oksana Lukasheva - Investor Relations John Roche - President & Chief Executive Officer Jeff Farber - Chief Financial Officer Dick Lavey - President, Agency Markets Conference Call Participants Matt Carletti - JMP Securities Paul Newsome - Piper Sandler Sean Reitenbach - KBW Mike Zaremski - Credit Suisse Operator Good day, and welcome to The Hanover Insurance Group's Second Quarter Ear ...

The Hanover Insurance Group, Inc. Second Quarter 2020 Results July 29, 2020 To be read in conjunction with the press release dated July 28, 2020 and conference call scheduled for July 29, 2020 Second Quarter 2020 Operating Highlights Net Income and Operating Income(1) of $3.01 and $1.63 per Diluted Share, Respectively; Combined Ratio of 96.2%; Combined Ratio, Excluding Catastrophes(2) , of 82.7%; Book Value Per Share Increased 12.6% to $81.10 • Current accident year loss and loss adjustment expense ("LAE") ...

Hanover Insurance Group Inc (NYSE:THG) Q1 2020 Results Conference Call April 29, 2020 10:00 AM ET Company Participants Oksana Lukasheva - Investor Relations John Roche - President and Chief Executive Officer Jeffrey Farber - Chief Financial Officer Richard Lavey - Executive Vice President and President of Agency Markets Bryan Salvatore - Executive Vice President and President of Specialty Conference Call Participants Matthew Carletti - JMP Securities Paul Newsome - Piper Sandler Meyer Shields - KBW Operator ...

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Presents unaudited consolidated financial statements for Q1 2020 and 2019, including income, balance sheets, cash flows, and detailed notes [Consolidated Statements of Income](index=3&type=section&id=Consolidated%20Statements%20of%20Income) Summarizes the company's revenues, expenses, and net income (loss) for the three months ended March 31, 2020 and 2019 Consolidated Statements of Income | Metric | Three Months Ended March 31, 2020 (millions) | Three Months Ended March 31, 2019 (millions) | | :--------------------------------------- | :------------------------------------------- | :------------------------------------------- | | Premiums | $1,141.4 | $1,095.1 | | Net investment income | $69.6 | $70.2 | | Total revenues | $1,056.2 | $1,219.5 | | Total losses and expenses | $1,110.1 | $1,070.9 | | Income (loss) from continuing operations before income taxes | $(53.9) | $148.6 | | Net income (loss) | $(40.0) | $122.4 | | Basic EPS | $(1.04) | $3.01 | | Diluted EPS | $(1.04) | $2.97 | - Net income (loss) significantly decreased from **$122.4 million** in Q1 2019 to **$(40.0) million** in Q1 2020, primarily due to a decrease in fair value of equity securities and impairment losses[8](index=8&type=chunk)[100](index=100&type=chunk) [Consolidated Statements of Comprehensive Income](index=4&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Details net income (loss) and other comprehensive income (loss) components for the three months ended March 31, 2020 and 2019 Consolidated Statements of Comprehensive Income | Metric | Three Months Ended March 31, 2020 (millions) | Three Months Ended March 31, 2019 (millions) | | :--------------------------------------- | :------------------------------------------- | :------------------------------------------- | | Net income (loss) | $(40.0) | $122.4 | | Total other comprehensive income (loss), net of tax | $(82.0) | $118.8 | | Comprehensive income (loss) | $(122.0) | $241.2 | - Comprehensive income (loss) decreased from **$241.2 million** in Q1 2019 to **$(122.0) million** in Q1 2020, driven by the net loss and significant net depreciation in available-for-sale securities[9](index=9&type=chunk) [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Presents the company's assets, liabilities, and shareholders' equity as of March 31, 2020, and December 31, 2019 Consolidated Balance Sheets | Metric | March 31, 2020 (millions) | December 31, 2019 (millions) | | :--------------------------------------- | :-------------------------- | :--------------------------- | | Total investments | $7,827.5 | $7,996.0 | | Total assets | $12,277.4 | $12,490.5 | | Loss and loss adjustment expense reserves | $5,724.9 | $5,654.4 | | Total liabilities | $9,540.8 | $9,574.3 | | Total shareholders' equity | $2,736.6 | $2,916.2 | | Total liabilities and shareholders' equity | $12,277.4 | $12,490.5 | - Total assets decreased by **$213.1 million**, and total shareholders' equity decreased by **$179.6 million** from December 31, 2019, to March 31, 2020[12](index=12&type=chunk) [Consolidated Statements of Shareholders' Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Shareholders'%20Equity) Outlines changes in shareholders' equity, including retained earnings and comprehensive income, for Q1 2020 and Q1 2019 Consolidated Statements of Shareholders' Equity | Metric | March 31, 2020 (millions) | March 31, 2019 (millions) | | :--------------------------------------- | :-------------------------- | :-------------------------- | | Total accumulated other comprehensive income | $70.6 | $3.8 | | Retained earnings (end of period) | $2,344.9 | $2,278.7 | | Treasury stock at cost (end of period) | $(1,541.1) | $(1,177.8) | | Total shareholders' equity | $2,736.6 | $2,927.0 | - Accumulated other comprehensive income, net of tax, decreased significantly from **$152.6 million** at the beginning of Q1 2020 to **$70.6 million** at the end, primarily due to net unrealized depreciation on investments[14](index=14&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Reports cash flows from operating, investing, and financing activities for the three months ended March 31, 2020 and 2019 Consolidated Statements of Cash Flows | Metric | Three Months Ended March 31, 2020 (millions) | Three Months Ended March 31, 2019 (millions) | | :--------------------------------------- | :------------------------------------------- | :------------------------------------------- | | Net cash provided by operating activities | $36.6 | $37.2 | | Net cash used in investing activities | $(99.9) | $(279.3) | | Net cash used in financing activities | $(8.5) | $(610.6) | | Net change in cash and cash equivalents | $(71.8) | $(852.7) | | Cash and cash equivalents, end of period | $143.9 | $168.5 | - Net cash used in financing activities decreased significantly from **$610.6 million** in Q1 2019 to **$8.5 million** in Q1 2020, primarily due to lower share repurchases and special dividends compared to the prior year[17](index=17&type=chunk)[187](index=187&type=chunk) [Notes to Interim Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Interim%20Consolidated%20Financial%20Statements) Provides detailed explanations and disclosures for the interim consolidated financial statements, covering accounting policies, investments, and segment performance [1. Basis of Presentation and Principles of Consolidation](index=8&type=section&id=1.%20Basis%20of%20Presentation%20and%20Principles%20of%20Consolidation) Describes the preparation of unaudited consolidated financial statements in accordance with U.S. GAAP and Form 10-Q requirements - The unaudited consolidated financial statements are prepared in accordance with U.S. GAAP for interim financial information and Form 10-Q requirements[19](index=19&type=chunk) - The statements include principal property and casualty companies (Hanover Insurance, Citizens Insurance) and discontinued operations (accident and health, former life, former Chaucer business)[20](index=20&type=chunk) [2. New Accounting Pronouncements](index=8&type=section&id=2.%20New%20Accounting%20Pronouncements) Outlines recently adopted and issued accounting standards and their expected impact on the company's financial reporting - Implemented ASC Update No. 2016-13 (Credit Losses), ASC Update No. 2018-15 (Cloud Computing Arrangement Costs), ASC Update No. 2018-13 (Fair Value Measurement Disclosures), and ASC Update No. 2017-04 (Goodwill Impairment) effective January 1, 2020, with no material impact on financial position or results of operations[24](index=24&type=chunk)[25](index=25&type=chunk)[26](index=26&type=chunk)[27](index=27&type=chunk) - Does not expect a material impact from recently issued standards, including ASC Update No. 2020-01 (Investments) and ASC Update No. 2019-12 (Income Taxes), effective after December 15, 2020[28](index=28&type=chunk)[29](index=29&type=chunk) [3. Investments](index=10&type=section&id=3.%20Investments) Provides details on the company's investment portfolio, including fixed maturities, impairments, and realized/unrealized gains and losses Fixed Maturities (March 31, 2020 vs. Dec 31, 2019) | Metric | March 31, 2020 (millions) | December 31, 2019 (millions) | | :--------------------------------------- | :-------------------------- | :--------------------------- | | Amortized Cost, net of Allowance for Credit Losses | $6,487.5 | $6,452.2 | | Fair Value | $6,625.0 | $6,687.1 | | Gross Unrealized Gains | $201.6 | $242.5 | | Gross Unrealized Losses | $64.1 | $7.6 | Fixed Maturity Securities in Unrealized Loss Position (March 31, 2020) | Category | Gross Unrealized Losses (millions) | Fair Value (millions) | | :--------------------- | :------------------------------- | :-------------------- | | Investment grade | $53.1 | $1,346.5 | | Below investment grade | $11.0 | $144.2 | | Total | $64.1 | $1,490.7 | - For the three months ended March 31, 2020, the Company recognized **$28.5 million** in impairments, primarily **$22.2 million** on fixed maturities and **$4.8 million** on mortgage loans. Fixed maturity impairments included **$16.0 million** categorized as intend-to-sell and **$6.2 million** of credit-related losses[40](index=40&type=chunk) - Net realized and unrealized gains (losses) on equity securities were **$(136.2) million** for Q1 2020, compared to **$48.6 million** for Q1 2019[43](index=43&type=chunk) [4. Fair Value](index=13&type=section&id=4.%20Fair%20Value) Explains the fair value hierarchy and valuation methodologies for investment assets, including Level 1, 2, and 3 classifications - Fair value is categorized into a three-level hierarchy: Level 1 (unadjusted quoted prices in active markets), Level 2 (observable inputs), and Level 3 (unobservable inputs)[44](index=44&type=chunk)[45](index=45&type=chunk) - The Company utilizes a third-party pricing service for the valuation of the majority of its fixed maturity and equity securities[48](index=48&type=chunk)[53](index=53&type=chunk) Total Investment Assets at Fair Value (March 31, 2020 vs. Dec 31, 2019) | Category | March 31, 2020 (millions) | December 31, 2019 (millions) | | :----------------------- | :-------------------------- | :--------------------------- | | Total | $7,075.5 | $7,266.3 | | Level 1 | $596.1 | $731.5 | | Level 2 | $6,450.1 | $6,503.8 | | Level 3 | $29.3 | $31.0 | - Limited partnerships measured at fair value using NAV were **$182.1 million** at March 31, 2020, and **$183.6 million** at December 31, 2019, and are excluded from the fair value hierarchy tables[58](index=58&type=chunk) [5. Debt and Credit Arrangements](index=17&type=section&id=5.%20Debt%20and%20Credit%20Arrangements) Details the company's outstanding debt, credit facilities, and compliance with associated covenants Total Principal Debt (March 31, 2020 vs. Dec 31, 2019) | Metric | March 31, 2020 (millions) | December 31, 2019 (millions) | | :------------------ | :-------------------------- | :--------------------------- | | Total principal debt | $716.7 | $662.7 | | Total (net of costs) | $707.5 | $653.4 | - The Company had **$54.0 million** of short-term advances from the Federal Home Loan Bank (FHLB) outstanding at March 31, 2020, which are expected to be repaid in Q2 2020[63](index=63&type=chunk) - The Company was in compliance with the covenants associated with its debt indentures and credit arrangements at March 31, 2020[64](index=64&type=chunk) [6. Income Taxes](index=17&type=section&id=6.%20Income%20Taxes) Reports income tax expense (benefit) and effective federal tax rates for continuing operations in Q1 2020 and Q1 2019 - Income tax expense (benefit) for continuing operations was a benefit of **$15.2 million** for Q1 2020, compared to an expense of **$26.0 million** for Q1 2019[65](index=65&type=chunk) - Consolidated effective federal tax rates were **28.2%** for Q1 2020 and **17.5%** for Q1 2019[170](index=170&type=chunk) [7. Pension Plans](index=18&type=section&id=7.%20Pension%20Plans) Presents the net periodic pension cost for the company's defined benefit pension plans for Q1 2020 and Q1 2019 Net Periodic Pension Cost | Metric | Three Months Ended March 31, 2020 (millions) | Three Months Ended March 31, 2019 (millions) | | :----------------------- | :------------------------------------------- | :------------------------------------------- | | Interest cost | $4.6 | $5.3 | | Expected return on plan assets | $(5.6) | $(5.8) | | Recognized net actuarial loss | $1.5 | $2.8 | | Net periodic pension cost | $0.5 | $2.3 | - Net periodic pension cost decreased from **$2.3 million** in Q1 2019 to **$0.5 million** in Q1 2020[67](index=67&type=chunk) [8. Other Comprehensive Income (Loss)](index=18&type=section&id=8.%20Other%20Comprehensive%20Income%20(Loss)) Details components of other comprehensive income (loss), net of tax, including unrealized gains/losses on available-for-sale securities Other Comprehensive Income (Loss), Net of Tax | Metric | Three Months Ended March 31, 2020 (millions) | Three Months Ended March 31, 2019 (millions) | | :--------------------------------------- | :------------------------------------------- | :------------------------------------------- | | Net unrealized gains (losses) on available-for-sale securities | $(83.2) | $116.4 | | Amortization of net actuarial losses (gains) | $1.2 | $2.3 | | Cumulative foreign currency translation adjustment | — | $0.1 | | Total other comprehensive income (loss) | $(82.0) | $118.8 | - Total other comprehensive income (loss) significantly declined from **$118.8 million** in Q1 2019 to **$(82.0) million** in Q1 2020, primarily due to net unrealized losses on available-for-sale securities[69](index=69&type=chunk) [9. Segment Information](index=19&type=section&id=9.%20Segment%20Information) Provides financial data by operating segment: Commercial Lines, Personal Lines, and Other, for Q1 2020 and Q1 2019 - The Company operates through three primary segments: Commercial Lines, Personal Lines, and Other (including Opus Investment Management, holding company assets, and run-off P&C pools)[71](index=71&type=chunk) Operating Revenues by Segment (Q1 2020 vs. Q1 2019) | Segment | 2020 (millions) | 2019 (millions) | | :---------------- | :-------------- | :-------------- | | Commercial Lines | $724.7 | $698.7 | | Personal Lines | $488.5 | $465.2 | | Other | $4.6 | $7.4 | | Total | $1,217.8 | $1,171.3 | Operating Income (Loss) before Interest Expense and Income Taxes by Segment (Q1 2020 vs. Q1 2019) | Segment | 2020 (millions) | 2019 (millions) | | :---------------- | :-------------- | :-------------- | | Commercial Lines | $54.6 | $80.2 | | Personal Lines | $64.9 | $26.8 | | Other | $(2.4) | $2.8 | | Total | $117.1 | $109.8 | [10. Stock-based Compensation](index=21&type=section&id=10.%20Stock-based%20Compensation) Reports stock-based compensation expense and details stock option and restricted stock unit activity for Q1 2020 and Q1 2019 Stock-based Compensation Expense, Net of Taxes | Metric | Three Months Ended March 31, 2020 (millions) | Three Months Ended March 31, 2019 (millions) | | :--------------------------------------- | :------------------------------------------- | :------------------------------------------- | | Stock-based compensation expense | $5.0 | $4.2 | | Tax benefit | $(1.1) | $(0.9) | | Stock-based compensation expense, net of taxes | $3.9 | $3.3 | Stock Option Activity (Q1 2020 vs. Q1 2019) | Metric | 2020 Shares | 2020 Weighted Average Exercise Price | 2019 Shares | 2019 Weighted Average Exercise Price | | :------------------------ | :---------- | :----------------------------------- | :---------- | :----------------------------------- | | Outstanding, beginning of period | 1,121,559 | $87.88 | 1,099,076 | $85.75 | | Granted | 240,705 | $118.54 | 232,568 | $95.05 | | Exercised | (35,918) | $79.40 | (64,017) | $75.98 | | Outstanding, end of period | 1,326,346 | $93.67 | 1,264,486 | $87.93 | - The Company granted **136,634** time-based restricted stock units and **54,415** performance-based and market-based restricted stock units in Q1 2020[80](index=80&type=chunk) [11. Earnings Per Share and Shareholders' Equity Transactions](index=22&type=section&id=11.%20Earnings%20Per%20Share%20and%20Shareholders'%20Equity%20Transactions) Presents weighted average shares outstanding for EPS calculation and details common stock repurchase activity Weighted Average Shares Outstanding for EPS Calculation | Metric | Three Months Ended March 31, 2020 (millions) | Three Months Ended March 31, 2019 (millions) | | :--------------------------------------- | :------------------------------------------- | :------------------------------------------- | | Basic shares | 38.3 | 40.6 | | Diluted shares | 38.3 | 41.2 | - The Company repurchased approximately **0.3 million** shares at an aggregate cost of **$34.9 million** during Q1 2020, with approximately **$300 million** remaining under the **$900 million** stock repurchase program[192](index=192&type=chunk) [12. Liabilities for Outstanding Claims, Losses and Loss Adjustment Expenses](index=22&type=section&id=12.%20Liabilities%20for%20Outstanding%20Claims%2C%20Losses%20and%20Loss%20Adjustment%20Expenses) Reconciles gross loss and loss adjustment expense (LAE) reserves and details prior year development for Q1 2020 and Q1 2019 Gross Loss and LAE Reserves Reconciliation | Metric | Three Months Ended March 31, 2020 (millions) | Three Months Ended March 31, 2019 (millions) | | :--------------------------------------- | :------------------------------------------- | :------------------------------------------- | | Gross loss and LAE reserves, beginning of period | $5,654.4 | $5,304.1 | | Net incurred losses and LAE (current year) | $730.2 | $712.8 | | Net incurred losses and LAE (prior years) | $(2.0) | $(13.2) | | Total incurred losses and LAE | $728.2 | $699.6 | | Total payments | $659.0 | $634.4 | | Gross reserve for losses and LAE, end of period | $5,724.9 | $5,381.6 | - Net favorable loss and LAE development was **$2.0 million** in Q1 2020, compared to **$13.2 million** in Q1 2019[86](index=86&type=chunk) - Q1 2020 favorable development was primarily due to lower than expected losses in workers' compensation, other commercial lines, and homeowners, partially offset by higher losses in commercial and personal automobile lines, commercial multiple peril, and adverse development in run-off voluntary assumed P&C reinsurance pools[87](index=87&type=chunk) [13. Commitments and Contingencies](index=23&type=section&id=13.%20Commitments%20and%20Contingencies) Discusses the company's involvement in legal proceedings, regulatory examinations, and participation in residual markets - The Company is involved in various legal proceedings and regulatory examinations in the normal course of business[89](index=89&type=chunk) - The ultimate resolutions of such proceedings are not expected to have a material effect on the Company's financial position, though they could have a material effect on the results of operations for a particular quarterly or annual period[89](index=89&type=chunk) - The Company is required to participate in residual markets in various states, which are significant to both personal and commercial automobile lines of business[90](index=90&type=chunk) [14. Subsequent Events](index=24&type=section&id=14.%20Subsequent%20Events) Reports significant events occurring after the balance sheet date, including premium returns related to the COVID-19 pandemic - On April 10, 2020, the Company announced it would return **15%** of April and May personal automobile premiums to eligible customers, estimated at approximately **$30 million**, to be recognized in Q2 2020, as financial relief during the COVID-19 pandemic[91](index=91&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Provides management's perspective on the company's financial condition and results for Q1 2020, covering consolidated performance, segments, investments, and COVID-19 impact [Introduction](index=25&type=section&id=Introduction) Introduces the purpose of the MD&A in understanding the interim consolidated results and financial condition of The Hanover Insurance Group - The Management's Discussion and Analysis (MD&A) aims to assist readers in understanding the interim consolidated results of operations and financial condition of The Hanover Insurance Group, Inc. and its subsidiaries (THG)[95](index=95&type=chunk) - Consolidated results include Hanover Insurance, Citizens Insurance, other insurance and non-insurance subsidiaries, and discontinued operations (accident and health, former life, and former Chaucer business)[96](index=96&type=chunk) [Executive Overview](index=26&type=section&id=Executive%20Overview) Summarizes key financial highlights, segment performance, and the significant impact of the COVID-19 pandemic on the company's operations - Business operations consist of three operating segments: Commercial Lines, Personal Lines, and Other, with a strategy focused on the independent agency distribution channel[97](index=97&type=chunk)[98](index=98&type=chunk) - The COVID-19 pandemic significantly impacted U.S. and global financial markets and economies in Q1 2020, adversely affecting the investment portfolio[99](index=99&type=chunk) Key Financial Highlights (Q1 2020 vs. Q1 2019) | Metric | 2020 (millions) | 2019 (millions) | | :------------------------------------------------ | :-------------- | :-------------- | | Net income (loss) | $(40.0) | $122.4 | | Operating income before interest expense and income taxes | $117.1 | $109.8 | | Pre-tax catastrophe losses | $37.9 | $39.4 | | Net favorable (unfavorable) prior years' loss and LAE development | $2.0 | $(0.3) | - Commercial Lines net premiums written grew by **4.5%** in Q1 2020, but underwriting results declined due to higher non-catastrophe current accident year large loss activity and catastrophe losses[103](index=103&type=chunk)[104](index=104&type=chunk) - Personal Lines net premiums written grew by **2.1%** in Q1 2020, with improved underwriting results due to lower catastrophe losses and non-catastrophe current accident year losses[106](index=106&type=chunk) - The Company will return **15%** of April and May personal automobile premiums (estimated **$30 million**) to eligible customers due to reduced driving during the Pandemic, to be recognized in Q2 2020[107](index=107&type=chunk) [Description of Operating Segments](index=27&type=section&id=Description%20of%20Operating%20Segments) Defines the company's three primary operating segments: Commercial Lines, Personal Lines, and Other, and their business focus - Primary business operations are conducted through three operating segments: Commercial Lines, Personal Lines, and Other (Opus Investment Management, holding company assets, and a run-off P&C pools business)[108](index=108&type=chunk) - Interest expense on debt is reported separately from the earnings of the operating segments[109](index=109&type=chunk) [Results of Operations – Consolidated](index=27&type=section&id=Results%20of%20Operations%20%E2%80%93%20Consolidated) Analyzes the consolidated net income (loss) and operating income, highlighting key drivers for Q1 2020 compared to Q1 2019 - Consolidated net loss for Q1 2020 was **$40.0 million**, a **$162.4 million** decrease from net income of **$122.4 million** in Q1 2019, primarily due to after-tax net realized and unrealized investment losses[110](index=110&type=chunk) - Operating income before interest expense and income taxes increased by **$7.3 million** to **$117.1 million**, driven by lower expenses and earned premium growth, partially offset by higher non-catastrophe current accident year losses[110](index=110&type=chunk) Consolidated Operating Income Reconciliation (Q1 2020 vs. Q1 2019) | Metric | 2020 (millions) | 2019 (millions) | | :------------------------------------------ | :-------------- | :-------------- | | Operating income before interest & taxes | $117.1 | $109.8 | | Interest expense on debt | $(9.4) | $(9.4) | | Operating income before income taxes | $107.7 | $100.4 | | Income tax expense on operating income | $(20.9) | $(19.7) | | Operating income | $86.8 | $80.7 | | Net realized & unrealized investment gains (losses) | $(161.6) | $48.2 | | Income tax benefit (expense) on non-operating items | $36.1 | $(6.3) | | Income (loss) from continuing operations, net of taxes | $(38.7) | $122.6 | | Discontinued operations (net of taxes) | $(1.3) | $0.6 | | Net income (loss) | $(40.0) | $122.4 | - Operating income (a non-GAAP measure) excludes certain items like investment gains/losses to highlight net income attributable to core business operations[114](index=114&type=chunk) [Results of Operations – Segments](index=29&type=section&id=Results%20of%20Operations%20%E2%80%93%20Segments) Examines the financial performance of Commercial Lines, Personal Lines, and Other segments, including premiums, underwriting profit, and loss development Total Operating Revenues and Expenses (Q1 2020 vs. Q1 2019) | Metric | 2020 (millions) | 2019 (millions) | | :--------------------------------------- | :-------------- | :-------------- | | Net premiums written | $1,136.9 | $1,098.0 | | Net premiums earned | $1,141.4 | $1,095.1 | | Net investment income | $69.6 | $70.2 | | Total operating revenues | $1,217.8 | $1,171.3 | | Total losses and operating expenses | $1,100.7 | $1,061.5 | | Operating income before interest expense and income taxes | $117.1 | $109.8 | - Operating income before interest expense and income taxes increased by **$7.3 million** in Q1 2020, primarily due to lower expenses and earned premium growth, partially offset by higher non-catastrophe current accident year losses[119](index=119&type=chunk) Combined Ratios by Segment (Q1 2020 vs. Q1 2019) | Segment | 2020 Combined Ratio | 2019 Combined Ratio | | :---------------- | :------------------ | :------------------ | | Commercial Lines | 98.2% | 94.2% | | Personal Lines | 90.0% | 98.2% | | Total | 95.2% | 95.8% | [Commercial Lines](index=30&type=section&id=Commercial%20Lines) Analyzes Commercial Lines' net premiums written, underwriting profit, and impact of catastrophe and non-catastrophe losses - Commercial Lines net premiums written increased by **$30.2 million** to **$707.6 million** in Q1 2020, driven by pricing increases and strong retention[126](index=126&type=chunk) - Underwriting profit decreased by **$26.3 million** to **$10.4 million** in Q1 2020, with catastrophe-related losses increasing by **$13.4 million** to **$23.8 million**[127](index=127&type=chunk) - Current accident year underwriting profit, excluding catastrophes, decreased by **$9.1 million** to **$30.5 million**, primarily due to a **$12.6 million** large property loss in commercial multiple peril and an initial reserve provision for COVID-19 related exposures[128](index=128&type=chunk) [Personal Lines](index=31&type=section&id=Personal%20Lines) Examines Personal Lines' net premiums written, underwriting profit, and the effect of catastrophe losses and premium returns - Personal Lines net premiums written increased by **$8.7 million** to **$429.3 million** in Q1 2020, primarily due to higher renewal premiums from rate increases[130](index=130&type=chunk) - Underwriting profit increased by **$38.4 million** to **$44.1 million** in Q1 2020, with catastrophe losses decreasing by **$14.9 million** to **$14.1 million**[132](index=132&type=chunk) - Current accident year underwriting profit, excluding catastrophes, increased by **$14.4 million** to **$56.6 million**, primarily due to lower current accident year property losses in personal automobile, partly due to a decrease in estimated miles driven in March due to the Pandemic[133](index=133&type=chunk) - The Company will return **15%** of April and May personal automobile premiums (estimated **$30 million**) to eligible customers due to COVID-19, to be recognized in Q2 2020[135](index=135&type=chunk) [Other](index=32&type=section&id=Other) Reviews the operating performance of the Other Segment, including investment income and prior year reserve development - The Other Segment had an operating loss of **$2.4 million** in Q1 2020, a decline of **$5.2 million** from operating income of **$2.8 million** in Q1 2019[137](index=137&type=chunk) - The decline was primarily due to lower net investment income from the deployment of Chaucer proceeds for share repurchases and special dividends in 2019, and adverse prior year reserve development in the run-off voluntary assumed P&C reinsurance pools business (**$3.3 million** increase based on an updated actuarial study for the legacy ECRA pool)[137](index=137&type=chunk) [Reserve for Losses and Loss Adjustment Expenses](index=32&type=section&id=Reserve%20for%20Losses%20and%20Loss%20Adjustment%20Expenses) Reconciles gross loss and LAE reserves and details prior year development by segment for Q1 2020 and Q1 2019 Gross Loss and LAE Reserves Reconciliation | Metric | Three Months Ended March 31, 2020 (millions) | Three Months Ended March 31, 2019 (millions) | | :--------------------------------------- | :------------------------------------------- | :------------------------------------------- | | Gross loss and LAE reserves, beginning of period | $5,654.4 | $5,304.1 | | Net incurred losses and LAE (current year) | $730.2 | $712.8 | | Prior year non-catastrophe loss development | $(2.0) | $0.3 | | Prior year catastrophe development | — | $(13.5) | | Total incurred losses and LAE | $728.2 | $699.6 | | Gross reserve for losses and LAE, end of period | $5,724.9 | $5,381.6 | Prior Year Unfavorable (Favorable) Development (Q1 2020 vs. Q1 2019) | Segment | 2020 Total (millions) | 2019 Total (millions) | | :---------------- | :-------------------- | :-------------------- | | Commercial Lines | $(7.0) | $(21.0) | | Personal Lines | $1.7 | $7.5 | | Other Segment | $3.3 | $0.3 | | Total | $(2.0) | $(13.2) | [Catastrophe Loss Development](index=33&type=section&id=Catastrophe%20Loss%20Development) Discusses favorable catastrophe development for Q1 2020 and Q1 2019, including impacts from prior year events - Favorable catastrophe development was **zero** in Q1 2020, compared to **$13.5 million** in Q1 2019, which was primarily due to lower than expected losses related to the 2017 and 2018 California wildfires[142](index=142&type=chunk) [2020 Loss and LAE Development, excluding catastrophes](index=33&type=section&id=2020%20Loss%20and%20LAE%20Development%2C%20excluding%20catastrophes) Analyzes net favorable loss and LAE development in Q1 2020, excluding catastrophes, by line of business - Net favorable loss and LAE development, excluding catastrophes, was **$2.0 million** in Q1 2020, driven by lower losses in workers' compensation, other commercial, and homeowners lines[143](index=143&type=chunk) - This favorable development was partially offset by higher losses in commercial and personal automobile and commercial multiple peril lines, and adverse development in the run-off voluntary assumed P&C reinsurance pools business (**$3.3 million** reserve increase for the legacy ECRA pool)[143](index=143&type=chunk) [2019 Loss and LAE Development, excluding catastrophes](index=33&type=section&id=2019%20Loss%20and%20LAE%20Development%2C%20excluding%20catastrophes) Examines net unfavorable loss and LAE development in Q1 2019, excluding catastrophes, across various lines of business - Net unfavorable loss and LAE development, excluding catastrophes, was **$0.3 million** in Q1 2019, primarily due to higher losses in personal and commercial automobile lines, largely offset by lower losses in workers' compensation and commercial multiple peril lines[144](index=144&type=chunk) - The Other Segment also experienced unfavorable development of **$0.3 million** due to adverse loss trends in run-off voluntary assumed P&C reinsurance pools, including asbestos and environmental reserves[144](index=144&type=chunk) [Investments](index=33&type=section&id=Investments) Provides an overview of investment results, portfolio composition, impairments, and unrealized losses, including COVID-19 impacts [Investment Results](index=33&type=section&id=Investment%20Results) Details net investment income and earned yields for fixed maturities and the total portfolio for Q1 2020 and Q1 2019 Net Investment Income Before Income Taxes | Metric | Three Months Ended March 31, 2020 (millions) | Three Months Ended March 31, 2019 (millions) | | :----------------------- | :------------------------------------------- | :------------------------------------------- | | Fixed maturities | $56.2 | $58.0 | | Limited partnerships | $6.6 | $4.5 | | Net investment income | $69.6 | $70.2 | | Earned yield, fixed maturities | 3.45% | 3.61% | | Earned yield, total portfolio | 3.60% | 3.65% | - Net investment income decreased by **$0.6 million** in Q1 2020, primarily due to the deployment of Chaucer proceeds for share repurchases and special dividends in 2019, and lower new money yields, partially offset by higher limited partnership income[145](index=145&type=chunk) [Investment Portfolio](index=34&type=section&id=Investment%20Portfolio) Describes the composition of the investment portfolio, including fixed maturities, equity securities, and cash, as of March 31, 2020 Investment Portfolio Composition (March 31, 2020 vs. Dec 31, 2019) | Investment Type | March 31, 2020 (millions) | % of Total | Dec 31, 2019 (millions) | % of Total | | :-------------------------- | :------------------------ | :--------- | :------------------------ | :--------- | | Fixed maturities, at fair value | $6,625.0 | 83.1% | $6,687.1 | 81.4% | | Equity securities, at fair value | $447.0 | 5.6% | $575.7 | 7.0% | | Mortgage and other loans | $459.4 | 5.8% | $441.2 | 5.4% | | Other investments | $296.1 | 3.7% | $292.0 | 3.6% | | Cash and cash equivalents | $143.9 | 1.8% | $215.7 | 2.6% | | Total cash and investments | $7,971.4 | 100.0% | $8,211.7 | 100.0% | - Total cash and investments decreased by **$240.3 million** (**2.9%**) in Q1 2020, primarily due to market value depreciation[147](index=147&type=chunk) - Approximately **96%** of the fixed maturity portfolio consisted of investment grade securities at March 31, 2020[148](index=148&type=chunk) - The weighted average duration of the fixed maturity portfolio was **4.2 years** at March 31, 2020, down from **4.3 years** at December 31, 2019[150](index=150&type=chunk) [Impairments](index=35&type=section&id=Impairments) Details recognized impairments on fixed maturities and mortgage loans in Q1 2020, including credit-related and intend-to-sell categories - The Company recognized **$28.5 million** in impairments in Q1 2020, primarily **$22.2 million** on fixed maturities and **$4.8 million** on mortgage loans[154](index=154&type=chunk) - Fixed maturity impairments included **$16.0 million** categorized as intend-to-sell and **$6.2 million** of credit-related losses, mainly in the energy, consumer cyclical, and transportation sectors[154](index=154&type=chunk) - No other-than-temporary impairments were recognized on the investment portfolio for Q1 2019[154](index=154&type=chunk) [Unrealized Losses](index=35&type=section&id=Unrealized%20Losses) Discusses the increase in gross unrealized losses on fixed maturities and the potential impact of the COVID-19 pandemic on the investment portfolio - Gross unrealized losses on fixed maturities increased by **$56.5 million** to **$64.1 million** at March 31, 2020, primarily attributable to wider credit spreads, with **$60.0 million** on corporate fixed maturities[156](index=156&type=chunk) - The Company views gross unrealized losses on fixed maturities as non-credit related and does not intend to sell before recovery of amortized cost, but market factors and economic downturns could lead to future impairments[157](index=157&type=chunk)[158](index=158&type=chunk) - The COVID-19 pandemic has led to significant economic disruption, market plunges, and accommodative monetary/fiscal policies, creating uncertainty for the investment portfolio, particularly in vulnerable corporate sectors like energy, lodging, restaurant, and transportation[161](index=161&type=chunk)[162](index=162&type=chunk)[163](index=163&type=chunk)[164](index=164&type=chunk) [Other Items](index=37&type=section&id=Other%20Items) Covers net realized and unrealized investment gains (losses) and losses from discontinued life businesses for Q1 2020 and Q1 2019 - Net realized and unrealized investment gains (losses) were **$(161.6) million** in Q1 2020, compared to **$48.2 million** in Q1 2019, primarily due to changes in the fair value of equity securities and impairment losses[167](index=167&type=chunk) - Losses from discontinued life businesses increased to **$1.3 million** in Q1 2020 from **$0.8 million** in Q1 2019, reflecting adverse loss trends related to the long-term care pool[168](index=168&type=chunk) [Income Taxes](index=37&type=section&id=Income%20Taxes) Analyzes the provision for income taxes from continuing operations and effective tax rates for Q1 2020 and Q1 2019 - The provision for income taxes from continuing operations was a benefit of **$15.2 million** in Q1 2020 (effective rate **28.2%**), compared to an expense of **$26.0 million** in Q1 2019 (effective rate **17.5%**)[170](index=170&type=chunk) - The Q1 2020 provision reflects benefits related to tax planning strategies (**$1.9 million**) and excess tax benefits related to stock-based compensation (**$1.9 million**)[170](index=170&type=chunk) - The income tax provision on operating income was an expense of **$20.9 million** in Q1 2020 (effective rate **19.4%**), compared to **$19.7 million** in Q1 2019 (effective rate **19.6%**)[171](index=171&type=chunk) [Critical Accounting Estimates](index=37&type=section&id=Critical%20Accounting%20Estimates) Identifies key accounting estimates, including loss reserves, reinsurance, pension obligations, deferred taxes, and investment credit losses - Key critical accounting estimates include reserves for losses and loss expenses, reinsurance recoverable balances, pension benefit obligations, and deferred taxes[173](index=173&type=chunk)[180](index=180&type=chunk) - Due to recent economic disruption and higher impairments in Q1 2020, 'Investment Credit Losses' has been added as a critical accounting estimate[174](index=174&type=chunk)[175](index=175&type=chunk) - The methodology for investment credit losses involves a systematic quantitative and qualitative process to evaluate declines in fair value below amortized cost, considering issuer financial condition, credit ratings, and projected future cash flows[175](index=175&type=chunk)[176](index=176&type=chunk)[177](index=177&type=chunk) - Impairments are recognized in earnings if the Company intends to sell or is likely to be required to sell before recovery; otherwise, only the credit loss portion is recognized in earnings, with non-credit related declines recorded as unrealized losses in accumulated other comprehensive income[178](index=178&type=chunk)[180](index=180&type=chunk) [Statutory Surplus of Insurance Subsidiaries](index=39&type=section&id=Statutory%20Surplus%20of%20Insurance%20Subsidiaries) Reports the statutory capital and surplus for insurance subsidiaries and the Risk-Based Capital (RBC) ratio as of March 31, 2020 Statutory Capital and Surplus | Metric | March 31, 2020 (millions) | December 31, 2019 (millions) | | :-------------------------- | :-------------------------- | :--------------------------- | | Total Statutory Capital and Surplus | $2,420.2 | $2,470.2 | - Statutory capital and surplus for insurance subsidiaries decreased by **$50.0 million** in Q1 2020, primarily due to net realized and unrealized investment losses, partially offset by underwriting profits and changes in deferred taxes[181](index=181&type=chunk) - The RBC ratio for The Hanover Insurance Company (Industry Scale) was **225%** at March 31, 2020[182](index=182&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) Discusses the company's cash sources, cash flow activities, dividend payments, share repurchases, and debt arrangements - The holding company's primary ongoing source of cash is dividends from insurance subsidiaries, subject to regulatory limitations[183](index=183&type=chunk) Cash Flows from Activities (Q1 2020 vs. Q1 2019) | Metric | 2020 (millions) | 2019 (millions) | | :--------------------------------------- | :-------------- | :-------------- | | Net cash provided by operating activities | $36.6 | $37.2 | | Net cash used in investing activities | $(99.9) | $(279.3) | | Net cash used in financing activities | $(8.5) | $(610.6) | - The Company paid a quarterly dividend of **$0.65 per share**, totaling approximately **$25 million**, in Q1 2020[188](index=188&type=chunk) - At March 31, 2020, the holding company held approximately **$309.2 million** of fixed maturities and cash, expected to be sufficient for current year obligations[189](index=189&type=chunk) - The Company repurchased approximately **0.3 million** shares at an aggregate cost of **$34.9 million** in Q1 2020, with approximately **$300 million** available for additional repurchases under the **$900 million** program[192](index=192&type=chunk) - The Company had **$54.0 million** of outstanding FHLB short-term borrowings and a **$200.0 million** unsecured revolving credit facility (with no borrowings) at March 31, 2020, and was in compliance with all debt covenants[193](index=193&type=chunk)[194](index=194&type=chunk)[195](index=195&type=chunk) [Off-Balance Sheet Arrangements](index=41&type=section&id=Off-Balance%20Sheet%20Arrangements) States that the company has no material off-balance sheet arrangements likely to significantly affect its financial position or results - The Company does not have any material off-balance sheet arrangements that are reasonably likely to have a significant effect on its financial position, revenues, expenses, results of operations, liquidity, capital expenditures, or capital resources[196](index=196&type=chunk) [Contingencies and Regulatory Matters](index=41&type=section&id=Contingencies%20and%20Regulatory%20Matters) Discusses regulatory responses to COVID-19, including premium refunds and potential legislation for business interruption claims - Regulators have issued orders or guidance in response to the COVID-19 pandemic regarding premium refunds/credits, payment grace periods, and rate reassessments, which are anticipated to be manageable depending on duration[197](index=197&type=chunk) - Proposed legislation in several states and the U.S. Congress seeks to retroactively require insurers to pay unfunded Pandemic business interruption claims or mandate prospective pandemic coverage, which the NAIC states would create substantial solvency risks[198](index=198&type=chunk) - Federal stimulus plans, such as the CARES Act, may mitigate political pressure for such proposed legislation[198](index=198&type=chunk) [Risks and Forward-Looking Statements](index=41&type=section&id=Risks%20and%20Forward-Looking%20Statements) Refers readers to detailed risk factors and forward-looking information provided in other sections of the report - This section refers readers to Item 1A of this Quarterly Report on Form 10-Q and Item 1A of the 2019 Annual Report on Form 10-K for detailed risk factors and forward-looking information[200](index=200&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=42&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) States no material changes occurred in the company's market risks, risk management, or sensitivity to interest rate and equity price risk in Q1 2020 - There have been no material changes in the Company's market risks, risk management, or sensitivity to changes in interest rates and equity price risk during the first three months of 2020[204](index=204&type=chunk) [Item 4. Controls and Procedures](index=42&type=section&id=Item%204.%20Controls%20and%20Procedures) Details the evaluation of disclosure controls and internal control over financial reporting, concluding their effectiveness as of March 31, 2020 [Disclosure Controls and Procedures Evaluation](index=42&type=section&id=Disclosure%20Controls%20and%20Procedures%20Evaluation) Describes the management's evaluation of the company's disclosure controls and procedures - Management, including the Chief Executive Officer and Chief Financial Officer, conducted an evaluation of the Company's disclosure controls and procedures[206](index=206&type=chunk) [Limitations on the Effectiveness of Controls](index=42&type=section&id=Limitations%20on%20the%20Effectiveness%20of%20Controls) Acknowledges inherent limitations of control systems, including faulty judgments, errors, and potential circumvention or override - Control systems provide only reasonable, not absolute, assurance and are subject to inherent limitations such as faulty judgments, simple errors, circumvention by individuals, or management override[207](index=207&type=chunk) [Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures](index=42&type=section&id=Conclusion%20Regarding%20the%20Effectiveness%20of%20Disclosure%20Controls%20and%20Procedures) Concludes that the company's disclosure controls and procedures were effective as of March 31, 2020, ensuring timely and accurate reporting - The Chief Executive Officer and Chief Financial Officer concluded that, as of March 31, 2020, the Company's disclosure controls and procedures were effective to provide reasonable assurance for timely and accurate reporting[208](index=208&type=chunk) [Internal Control Over Financial Reporting](index=42&type=section&id=Internal%20Control%20Over%20Financial%20Reporting) Reports on management's evaluation of internal control over financial reporting, noting no material changes during Q1 2020 - Management evaluated the effectiveness of internal control over financial reporting[209](index=209&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter ended March 31, 2020[209](index=209&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=43&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings and regulatory investigations, not expected to materially affect financial position but potentially operating results - The Company is named as a defendant in various legal proceedings and is involved in examinations, investigations, and proceedings by governmental and self-regulatory agencies[212](index=212&type=chunk) - The ultimate resolutions of such proceedings are not expected to have a material effect on the Company's financial position, but could have a material effect on the results of operations for a particular quarterly or annual period[212](index=212&type=chunk) [Item 1A. Risk Factors](index=43&type=section&id=Item%201A.%20Risk%20Factors) Supplements 2019 Form 10-K risks, highlighting material adverse effects of COVID-19 on operations, investments, and potential legislative changes - The COVID-19 Pandemic and related general economic conditions could have a material adverse effect on the Company's results of operations, financial condition, or cash flows[216](index=216&type=chunk) - The Pandemic has led to volatility in the investment portfolio, increased impairments, and declining yields on fixed income investments, with potential for further negative impact on liquidity and capital position[217](index=217&type=chunk) - Proposed legislation in various states and the U.S. Congress seeking to retroactively amend insurance contracts for unfunded Pandemic business interruption claims or mandate prospective coverage could expose the Company to significant unfunded liability and solvency risks[219](index=219&type=chunk) - State regulators may continue to impose premium refund orders, mandate rate reductions, or mandate presumptions of compensability in workers' compensation coverages, impacting profitability[219](index=219&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=45&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Details common stock repurchases during Q1 2020, including shares under publicly announced plans and those withheld for tax purposes Issuer Purchases of Equity Securities (Q1 2020) | Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares That May Yet be Purchased Under the Plans or Programs (in millions) | | :-------------------- | :------------------------------- | :--------------------------- | :------------------------------------------------------------------------------- | :------------------------------------------------------------------------------------------------- | | January 1 - 31, 2020 | — | — | — | $336 | | February 1 - 29, 2020 | 224,817 | $131.08 | 186,713 | $336 | | March 1 - 31, 2020 | 350,189 | $99.70 | 349,710 | $302 | | Total | 575,006 | $111.97 | 536,423 | $302 | - The February purchases include **186,713** shares of common stock received as final settlement of the December 2019 Accelerated Share Repurchase (ASR) agreement[226](index=226&type=chunk) [Item 6. Exhibits](index=47&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with the Form 10-Q, including certifications and financial statements in iXBRL format - Exhibits include certifications from the Chief Executive Officer and Chief Financial Officer pursuant to sections 302 and 906 of the Sarbanes-Oxley Act of 2002[229](index=229&type=chunk) - The consolidated financial statements (Statements of Income, Comprehensive Income, Balance Sheets, Shareholders' Equity, Cash Flows, and related notes) are formatted in Inline eXtensible Business Reporting Language (iXBRL)[229](index=229&type=chunk) [SIGNATURES](index=48&type=section&id=SIGNATURES) Contains the required signatures for the Form 10-Q, certifying its submission by authorized representatives - The report was signed by John C. Roche, President, Chief Executive Officer and Director, and Jeffrey M. Farber, Executive Vice President and Chief Financial Officer, on April 29, 2020[231](index=231&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission file number: 1-13754 THE HANOVER INSURANCE GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 04-3263626 (State or other jurisdiction ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-13754 THE HANOVER INSURANCE GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 04-3263626 (State or o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-13754 THE HANOVER INSURANCE GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 04-3263626 (State or other ...