Hanover Insurance Group (THG) Tops Q2 EPS by 25c, Revenues Beat

Hanover Insurance Group (NYSE: THG) reported Q2 EPS of $2.31, $0.25 better than the analyst estimate of $2.06. Revenue for the quarter came in at $1.36 billion versus the consensus estimate of $1.34 billion.

"We are pleased with our second quarter performance," said John C. Roche, president and chief executive officer at The Hanover. "We continued to demonstrate the value of our company's agency-centered strategy and distinctive business model, generating an operating return on average equity of approximately 13 percent(4) and overall growth of 7 percent, notably, in our most profitable businesses.

"While market conditions continue to be very dynamic, we remain satisfied with the overall domestic pricing environment," Roche said. "Our Core Commercial pricing ticked up in the quarter, while Personal Lines rate increases remained relatively stable. We are confident that our dedicated teams, enhanced capabilities and strong agency franchise approach will allow us to continue growing profitably in target sectors."

"For the quarter, we delivered solid operating earnings of $2.20 per share," said Jeffrey M. Farber, executive vice president and chief financial officer. "All of our financial measures remain in line with our expectations. Our current year underlying loss trends remained stable, the expense ratio improved by half-a-point in our domestic business, while retention and new business quality remained strong. We continue to build momentum across the organization, and we are well positioned to capitalize on this momentum in the second half of 2018."

For earnings history and earnings-related data on Hanover Insurance Group (THG) click here.

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