Hanover Insurance Group (THG) Tops Q3 EPS by 12c

Hanover Insurance Group (NYSE: THG) reported Q3 EPS of $1.97, $0.12 better than the analyst estimate of $1.85. Revenue for the quarter came in at $1.18 billion versus the consensus estimate of $1.19 billion.

"We are pleased with our continued execution in the quarter, both strategically and on our operating priorities," said John C. Roche, president and chief executive officer at The Hanover. "Our solid results, in spite of the significant catastrophe activity in the U.S., are a reflection of our disciplined risk selection, underwriting and exposure management actions. Our performance also reflects sustained profitable growth and operating efficiencies gained across our business.

Growth during the quarter was strong, at 5.2%, due largely to rate increases and solid retention," Roche said. "We continued expanding our capabilities in target markets. Our growth is coming from account business in Personal Lines, as well as profitable Commercial Lines business segments, including small commercial and professional lines. This continued strong performance enables us to build on the momentum we have established across our organization, delivering value for our shareholders, agent partners and customers."

"For the quarter, we reported operating EPS of $1.97 per diluted share and adjusted operating ROE(4), excluding the equity attributable to Chaucer, of approximately 14% for the quarter and 13% year-to-date," said Jeffrey M. Farber, executive vice president and chief financial officer. "Our year-to-date operating performance was in line with expectations. We continued to manage through the industry-wide increase in Commercial Auto severity and are confident we have the underwriting rigor, pricing discipline and expertise to deal with it effectively."

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

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