"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 ...

Core Insights - The Hanover Insurance Group reported a preliminary estimate of $157.1 million in catastrophe losses for Q2 2024, equating to 10.7 points of net earned premium, primarily affecting the Personal Lines business [1][2] - The property and casualty insurance industry experienced significant catastrophe losses in Q2 2024, with the highest losses for May in over a decade, highlighting the importance of the company's catastrophe management plan initiated last year [2] - The company expects a combined ratio of 99.2% for Q2 2024, with an ex-CAT combined ratio of 88.5%, indicating strong underlying performance despite the catastrophe losses [2][3] Financial Performance - The Hanover anticipates after-tax net income of $1.12 per diluted share and operating income of $1.88 per diluted share for Q2 2024, reflecting a solid bottom line despite the impact of catastrophe losses [2][16] - The company reported a significant year-over-year improvement in the ex-CAT Personal Lines loss ratio, driven by enhanced profitability in auto and homeowners lines [2] - The Core and Specialty segments showed continued strength, with effective navigation of liability trends and execution of property portfolio initiatives [2] Underwriting Ratios - The combined ratio (GAAP) for Q2 2024 is expected to be 99.2%, with a catastrophe ratio of 10.7% and a combined ratio excluding catastrophes (non-GAAP) of 88.5% [3][15] - The loss and LAE ratio (GAAP) will also reflect the impact of catastrophe losses, with a focus on current accident year loss ratios excluding catastrophes [4][17] Company Overview - The Hanover Insurance Group is a major player in the U.S. property and casualty insurance market, providing insurance solutions through independent agents and brokers for small to midsized businesses, homes, and automobiles [6]

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 ...

Core Insights - The 2024 Home Maintenance Report by The Hanover Insurance Group reveals that many homeowners lack knowledge on proper home maintenance, which can lead to significant and costly damage [1][8] - The report emphasizes the importance of risk mitigation strategies and highlights opportunities for independent agents to provide value through discussions with homeowners [2][9] Homeowner Maintenance Behavior - Only 38% of homeowners have checked their roofs, 39% have examined their water heaters, and 40% have cleaned their gutters in the past year, indicating a lack of focus on vulnerable areas [3] - New homeowners, particularly those in their homes for less than five years, are less likely to know the location of their water shut-off valve compared to long-term homeowners [3] - Approximately one-third of homes are due for significant updates, such as roof and window replacements, to protect against environmental factors [3] Regional Maintenance Variations - Maintenance practices vary by region, with Midwest homeowners more likely to have cleaned gutters compared to those in the South and West [3] - Southern and Midwestern homeowners are more proactive in checking HVAC systems (64% each) compared to Northeastern homeowners (48%) [3] - Northeastern homeowners are the most diligent in changing smoke detector batteries (71%) and checking water heaters compared to other regions [3] Industry Context - The Hanover Insurance Group emphasizes the role of homeowners in protecting their investments amid increasing weather severity and evolving risks [9] - The company advocates for collaboration between homeowners and knowledgeable independent insurance agents to ensure proper maintenance and insurance protection [9][10]

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 ...

Group 1 - The Hanover Insurance Group, Inc. declared a quarterly dividend of $0.85 per share on its common stock, payable on June 28, 2024, to shareholders of record as of June 14, 2024 [1] - The Hanover Insurance Group is one of the largest property and casualty insurance businesses in the United States, providing insurance solutions through independent agents and brokers [3] Group 2 - The company offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and personal items [3]

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 | | --- | - ...

Exhibit 99.2 FINANCIAL SUPPLEMENT FIRST QUARTER 2024 | Segment Descriptions | 1 | | --- | --- | | Financial Highlights | 2 | | Consolidated Financial Statements | | | Income Statements | 3 | | Balance Sheets | 4 | | Pre-tax Operating Results and Related Metrics | | | Consolidated | 5-6 | | Core Commercial | 7-8 | | Specialty | 9-10 | | Personal Lines | 11-13 | | Investments | | | Net Investment Income and Yields | 14 | | Investment Portfolio | 15 | | Credit Quality and Duration of Fixed Maturities | 16 | | ...