WORCESTER, Mass., March 19, 2025 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) expects to issue its first quarter financial results after the market closes on Wednesday, April 30. The company expects to webcast a discussion of its results on Thursday, May 1, at 10:00 a.m. ET, through its website at hanover.com.About The HanoverThe Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance ...

WORCESTER, Mass., Feb. 24, 2025 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) announced today its board of directors has declared a quarterly dividend of $0.90 per share on the issued and outstanding common stock of the company, payable March 28, 2025, to shareholders of record at the close of business on March 14, 2025. Forward-Looking StatementsStatements regarding quarterly or future dividends, whether regular or special, payable to the company's shareholders, which may be subject to futu ...

Premiums Written - The Hanover Insurance Group generated approximately $6.1 billion in net premiums written for 2024, reflecting a 4.7% increase from the prior year[11]. - The Core Commercial segment accounted for $2.2 billion, or 36.1%, of net premiums written, with commercial multiple peril coverage representing 50.9% of this segment[15][16]. - The Specialty segment generated $1.4 billion, or 22.6%, of net premiums written, with Professional and Executive Lines contributing 32.0% of this segment's total[23][24]. - The Personal Lines segment produced $2.5 billion, or 41.3%, of net premiums written, with personal automobile coverage making up 58.2% of this segment[28][29]. - The total net premiums written for Core Commercial, Specialty, and Personal Lines in 2024 amounted to $6,083.6 million[36]. Underwriting and Risk Management - The company maintains a disciplined underwriting and pricing strategy to improve overall business mix and underwriting profitability[11]. - The company focuses on diversifying its underwriting risks, with approximately 41% of its business in Personal Lines, 36% in Core Commercial, and 23% in Specialty[32]. - The company employs pricing teams that produce exposure and experience-based rating models to support underwriting and pricing decisions[44]. - The company utilizes a variety of reinsurance agreements to control exposure to large property and casualty losses and stabilize earnings[49]. - The company has diversified its exposure to credit risk by reinsuring with multiple reinsurers, requiring a minimum policyholder surplus of $500 million and a rating of "A" or better[81]. Geographic and Market Focus - The company is focused on increasing geographic diversification in its Personal Lines business to reduce risk concentrations in core states[30]. - In 2024, the company wrote 19.0% of its Core Commercial, Specialty, and Personal Lines business in Michigan, and 8.2% in Massachusetts[33]. - Approximately 88% of the company's policies in force are account business, with 50% of Personal Lines net premiums written generated in Michigan and Massachusetts combined[37]. - The company maintains 33 local offices across 23 states, focusing on strong agency relationships to secure and retain the best accounts[33]. - Independent agents account for nearly all sales in Core Commercial and Personal Lines, with performance monitored for profitability and growth[34]. Reinsurance and Catastrophe Protection - The property catastrophe occurrence excess of loss reinsurance program provides coverage up to $1.6 billion with a retention of $200 million, and Northeast named storm events coverage up to $1.9 billion with the same retention[54]. - The casualty excess of loss treaty for 2024 provides coverage up to $75 million with a retention of $2.5 million, and a co-participation of 3.5% in the $2.5 million to $5 million layer[63]. - As of December 31, 2024, total reinsurance recoverables from various sources amount to $1,994.5 million, including $874.8 million from mandatory residual markets[73]. - The Michigan Catastrophic Claims Association (MCCA) accounted for 52% of total personal automobile gross reserves as of December 31, 2024[74]. - The company intends to renew its reinsurance treaties in July 2025 with similar terms, but there is no assurance of maintaining current levels[56]. Financial Reserves - Statutory reserve for losses and loss adjustment expenses (LAE) was $5,733.2 million as of December 31, 2024, an increase from $5,618.7 million in 2023[93]. - The GAAP reserve for losses and LAE was $7,461.2 million as of December 31, 2024, compared to $7,308.1 million in 2023[93]. - The company established a reserve for uncollectible reinsurance of $6.5 million as of December 31, 2024, representing 0.3% of the total reinsurance recoverable balance[80]. - Total reserves for the assumed accident and health business were $107.2 million as of December 31, 2024, with long-term care accounting for approximately 72% of these reserves[94]. - The company has no significant exposure to uncollectible reinsurance balances from the MCCA, as no significant uncollectible balances have been identified during the past three years[74]. Employee Relations and Development - The company employs around 4,900 employees, all located in the United States, with positive employee relations evidenced by feedback from surveys[106]. - The company emphasizes employee development and succession planning through various learning and development programs, including mentorship and tuition reimbursement[110]. - The compensation philosophy is based on a merit system, with most employees receiving some form of short-term incentive compensation[112]. - The company has transitioned to a fully hybrid work environment to enhance employee engagement and retention[114]. - Management is focused on fostering an inclusive and diverse workforce, supported by a multi-year educational program on inclusive leadership[115].

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The Hanover Insurance Group, Inc. (NYSE:THG) Q4 2024 Earnings Conference Call February 5, 2025 10:00 AM ET Company Participants Oksana Lukasheva - Senior Vice President, Corporate Finance Jack Roche - President & Chief Executive Officer Jeff Farber - Chief Financial Officer Dick Lavey - President, Agency Markets Bryan Salvatore - President, Specialty Lines Conference Call Participants Bob Huang - Morgan Stanley Michael Phillips - Oppenheimer Paul Newsome - Piper Sandler Meyer Shields - KBW Bob Farnam - Jann ...

The Hanover Insurance Group, Inc. Fourth Quarter and Full Year 2024 Results February 4, 2025 To be read in conjunction with the press release dated February 4, 2025, and conference call scheduled for February 5, 2025. Please also see important information regarding forward-looking statements and additional risks and uncertainties at the end of this presentation. 1 Excellent Fourth Quarter and Full Year 2024 Operating Results Fourth quarter highlights Full year highlights (1) See information about this and o ...

For the quarter ended December 2024, Hanover Insurance Group (THG) reported revenue of $1.62 billion, up 5.8% over the same period last year. EPS came in at $5.32, compared to $3.13 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.62 billion, representing a surprise of -0.11%. The company delivered an EPS surprise of +54.20%, with the consensus EPS estimate being $3.45.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

Hanover Insurance Group (THG) came out with quarterly earnings of $5.32 per share, beating the Zacks Consensus Estimate of $3.45 per share. This compares to earnings of $3.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 54.20%. A quarter ago, it was expected that this insurance company would post earnings of $2.65 per share when it actually produced earnings of $3.05, delivering a surprise of 15.09%.Over the last four quart ...

Financial Performance - Gross premiums written for Q4 2024 reached $1,625.8 million, an increase from $1,502.4 million in Q4 2023, representing a growth of 8.2% year-over-year[7] - Net premiums earned in Q4 2024 were $1,511.6 million, up from $1,440.3 million in Q4 2023, reflecting a year-over-year increase of 4.9%[7] - Operating income after taxes for Q4 2024 was $194.6 million, compared to $113.1 million in Q4 2023, marking a significant increase of 72.0%[7] - Total revenues for the year ended December 31, 2024, increased by 4.1% to $6,237.4 million compared to $5,993.5 million in 2023[10] - Net income for Q4 2024 was $167.9 million, a 55.6% increase from $107.9 million in Q4 2023[10] - Operating income before income taxes improved to $111.3 million in 2024 from a loss of $304.3 million in 2023, indicating a turnaround in profitability[36] - The company reported a GAAP underwriting loss of $4.1 million in 2024, a significant improvement from a loss of $411.6 million in 2023[36] - The net income for the year ended December 31, 2024, was $426.0 million, compared to $35.3 million in 2023, indicating a significant growth[58] - The diluted earnings per share for the year ended December 31, 2024, was $11.70, compared to $0.98 in 2023, reflecting a substantial increase[58] Assets and Equity - Total assets as of December 31, 2024, were $15,367.0 million, up from $14,612.6 million at the end of 2023, indicating a growth of 5.2%[7] - Total shareholders' equity increased to $2,841.8 million by December 31, 2024, compared to $2,465.6 million at the end of 2023, a rise of 15.2%[7] - The company reported a book value per share of $79.18 as of December 31, 2024, up from $68.93 a year earlier, reflecting a growth of 14.0%[7] - Total assets as of December 31, 2024, increased by 4.8% to $15,317.2 million compared to $14,612.6 million in 2023[12] - Cash and cash equivalents rose by 49.3% to $471.8 million in 2024 from $316.1 million in 2023[12] Premiums and Underwriting - Gross premiums written increased to $6,732.9 million in 2024, up from $6,432.9 million in 2023, representing a growth of 4.67%[18] - Net premiums written rose to $6,083.6 million in 2024, compared to $5,810.2 million in 2023, reflecting an increase of 4.69%[18] - Net premiums earned reached $5,912.6 million in 2024, up from $5,663.1 million in 2023, indicating a growth of 4.39%[18] - The combined ratio for 2024 was 94.8%, an improvement from 103.5% in 2023, indicating enhanced operational efficiency[20] - The combined ratio for Q4 2024 was 95.0%, compared to 89.2% in Q4 2023, indicating a deterioration in underwriting performance[15] Investment Performance - Net investment income rose by 23.4% to $100.7 million in Q4 2024 from $81.6 million in Q4 2023[10] - Net investment income increased to $372.6 million in 2024, compared to $332.1 million in 2023, marking a growth of 12.2%[20] - Net investment income for Q1 2024 was $40.8 million, up from $36.1 million in Q1 2023[22] - The total investments as of December 31, 2024, were valued at $9,881.6 million, with a net unrealized loss of $509.3 million[47] Operational Efficiency - The expense ratio for 2024 was 31.3%, slightly improved from 30.5% in 2023, indicating effective cost control measures[20] - The expense ratio for Q1 2024 was 37.0%, up from 35.3% in Q1 2023, reflecting increased operational costs[27] - The current year loss and LAE ratio, excluding catastrophe losses, was 58.2% in 2024, down from 61.1% in 2023, reflecting better loss management[20] - The loss and LAE ratio for Q1 2024, excluding catastrophe losses, was 48.7%, compared to 53.5% in Q1 2023, indicating improved loss management[27] Future Outlook and Strategy - The company plans to continue expanding its market presence through new product offerings and strategic acquisitions in 2025[6] - The company aims to enhance its technology capabilities to improve customer experience and operational efficiency in the upcoming fiscal year[6] Ratings and Stock Information - The Hanover Insurance Group, Inc. has a financial strength rating of A from A.M. Best and an S&P rating of A[76] - The company's senior debt is rated bbb+ by A.M. Best, BBB by S&P, and Baa2 by Moody's[76] - The subordinated debentures have a rating of bbb- from A.M. Best, BB+ from S&P, and Baa3 from Moody's[76] - The Hanover Insurance Group's common stock is traded on the New York Stock Exchange under the symbol "THG"[77]

Fourth Quarter Highlights Net and operating return on equity(1) of 23.5% and 24.4%, respectively Combined ratio of 89.2%; combined ratio, excluding catastrophes(2), of 87.5% Catastrophe losses of $26.0 million, or 1.7 points of the combined ratio Net premiums written increase of 7.4%* Renewal price increases(3) of 14.2% in Personal Lines, 11.8% in Core Commercial, and 9.5% in Specialty Rate increases(3) of 13.1% in Personal Lines, 9.2% in Core Commercial, and 6.1% in Specialty Loss and loss adjustment expe ...