Second Quarter Highlights Combined ratio of 99.2%; combined ratio, excluding catastrophes(1), of 88.5% Catastrophe losses of $157.1 million, or 10.7 points of the combined ratio Net premiums written increase of 5.1%* Renewal price increases(2) of 18.5% in Personal Lines, 11.7% in Core Commercial and 11.7% in Specialty Rate increases(2) of 16.6% in Personal Lines, 9.3% in Core Commercial and 8.2% in Specialty Loss and loss adjustment expense (LAE) ratio of 68.4%, 12.3 points below the prior-year quarter Curr ...

"We place a strong focus on cultivating a workplace culture that attracts highly skilled professionals, ensuring that these employees feel a sense of appreciation and belonging, and that we are helping them build rewarding and fulfilling careers," said Denise Lowsley, chief human resources officer at The Hanover. "In our line of work, where our customers depend on us to protect what matters most to them, our employees are our greatest asset. Creating an inclusive environment where they feel appreciated and ...

Hanover Insurance Group (THG) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on July 31, 2024, might help the stock move higher if these key numbers are bette ...

WORCESTER, Mass., July 18, 2024 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced a preliminary estimate for second quarter catastrophe losses(1) of $157.1 million, before taxes, or 10.7 points of net earned premium. The losses primarily resulted from severe convective storm activity and mostly impacted the company's Personal Lines business. "The property and casualty insurance industry sustained very significant catastrophe losses in the second quarter, including the highest CAT ...

SOURCE The Hanover Insurance Group, Inc. WORCESTER, Mass., July 1, 2024 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) expects to issue its second quarter financial results after the market closes on Wednesday, July 31, 2024. The company expects to webcast a discussion of its results on Thursday, August 1, at 10:00 a.m. ET, through its website at hanover.com. The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitu ...

WORCESTER, Mass., June 20, 2024 /PRNewswire/ -- According to the 2024 Home Maintenance Report released today by The Hanover Insurance Group, Inc. (NYSE: THG), many homeowners don't know how to properly upkeep and maintain their homes to help avoid significant and costly damage. The report highlights opportunities for improving risk mitigation efforts related to areas susceptible to common losses. While the 2024 Home Maintenance Report found homeowners are actively taking care of their homes, the data did sh ...

The Hanover Insurance Group's (THG) growth in the Core Commercial and Specialty segments, stable retention, better pricing, strong market presence and solid capital position poise it well for growth. Shares have gained 6.5% year to date, compared with the industry's increase of 16.6%. The insurer carries a Zacks Rank #3 (Hold). It has a VGM Score of B. Image Source: Zacks Investment Research Return on Equity Hanover Insurance believes that it is well-positioned to achieve a long-term return on equity target ...

WORCESTER, Mass., June 3, 2024 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) announced today its board of directors has declared a quarterly dividend of $0.85 per share on the issued and outstanding common stock of the company, payable June 28, 2024, to shareholders of record at the close of business on June 14, 2024. Forward-Looking Statements Statements regarding quarterly or future dividends, whether regular or special, payable to the company's shareholders, which may be subject to future ...

Financial Data and Key Metrics Changes - The company reported an after-tax operating income of $112 million, or $3.08 per diluted share, with an operating return on equity of 15% [59] - The combined ratio for the first quarter was 95.5%, showing a more than 2-point improvement in the ex-CAT combined ratio [67] - The expense ratio for the first quarter was 30.9%, slightly above the full-year target of 30.7% due to timing of certain expenses [40][59] Business Line Data and Key Metrics Changes - Specialty business achieved a combined ratio of 87.6%, with net written premium growth expected in the upper single digits for 2024 [28][32] - Core Commercial segment's net written premiums grew by 3% in the first quarter, with a combined ratio of 90.0% [41][43] - Personal Lines showed improved profitability with a current accident year loss ratio of 65.6%, and pricing increases of 18.2% for Auto and 30.2% for Home [71][73] Market Data and Key Metrics Changes - The Commercial P&C market remains rational, supporting necessary price increases amid recent property loss trends [34] - The Personal Lines market is robust, with expectations for premium growth to accelerate and pricing to remain firm in 2024 [37] - The company is seeing a shift in claims towards more complex claims, contributing to increased loss severity [42] Company Strategy and Development Direction - The company is focused on margin recapture and catastrophe mitigation plans while repositioning its Personal Lines business for improved earnings resiliency [31][38] - Investments are being made in technology and resources for the Specialty business, particularly in E&S, Industrial Property, Marine, and Healthcare [84] - The company aims to optimize its liability mix and maintain a disciplined approach to pricing and reserving [63][70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ability to improve the loss ratio going forward, despite some fluctuations in individual losses [10] - The company is cautious about liability coverages in auto, reflecting an elevated loss expectation due to catastrophic claims [45] - Overall, management is confident in the company's ability to deliver stronger results and execute on strategic priorities [38][76] Other Important Information - The company plans to transition the management of its investment-grade fixed maturity assets to an external manager to optimize investment portfolio contributions [47] - Catastrophe activity accounted for 6% of net earned premium in the quarter, with specific events contributing to losses [40] Q&A Session Summary Question: Insights on Core Commercial loss ratio expectations - The core loss ratio for commercial was flat year-over-year, with expectations for continued performance in line with current trends [22] Question: Comments on Small Commercial growth and competitive landscape - The company is experiencing strong growth in Small Commercial, with a competitive advantage in this area despite increased interest from competitors [18] Question: Clarification on Personal Auto reserve charge - The slight reserve charge in Personal Auto was not a concern, with overall favorable development in Auto and slight adverse development in Home [12] Question: Impact of social inflation on liability lines - The company is managing its liability profile carefully, with a focus on maintaining low policy limits and avoiding high-severity areas [63] Question: Progress on Personal Lines deconcentration strategy - The company is actively reducing concentration in the Midwest while maintaining higher retention in the Northeast, with a focus on improving terms and conditions [80]

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 March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbols | Name of each exchange on which registered | | --- | - ...