Hanover Insurance Gp (THG) Tops Q1 EPS by 25c

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April 29, 2013 4:15 PM EDT
Hanover Insurance Gp (NYSE: THG) reported Q1 operating EPS of $1.32, $0.25 better than the analyst estimate of $1.07.

First Quarter Highlights

  • Combined ratio of 96.1%, including 2.0 points related to catastrophe losses
  • Favorable reserve development of $6.9 million, driven by reserve releases in the Chaucer business
  • Net premiums written of $1.1 billion, up 6%, primarily driven by higher share of premiums retained at Chaucer
  • Continued improvement in Commercial and Personal Lines pricing trends
  • Net investment income of $67.3 million
  • Issued $175 million of subordinated debentures due in 2053 with a coupon of 6.35%
  • Repurchased approximately 544,000 shares of common stock for $25.2 million at an average cost of $46.38 per share
  • Book value per share of $59.58 at March 31, 2013, up 2% from December 31, 2012, and up 3% from March 31, 2012

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

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