Hanover Insurance Group (THG) Tops Q1 EPS by 20c
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The Hanover Reports Strong First Quarter Net Income and Operating Income of $2.90 and $3.26 per Diluted Share, Respectively; Net and Operating Return on Equity of 14.0% and 15.7%, Respectively
May 3, 2022 4:06 PM EDTFirst Quarter Highlights
Operating income(1) of $117.7 million increased 91.6% from $61.4 million in the prior-year quarter Combined ratio of 93.4%; combined ratio, excluding catastrophes(2) of 89.8% Net premiums written increase of 9.7%*, with strong growth from each segment Rate increases(3) of 6.3% in Core Commercial, 8.4% in Specialty, and 2.7% in Personal Lines Renewal price change(3) up 9.7% in Core Commercial, 12.6% in Specialty and 4.3% in Personal Lines Catastrophe loss ratio of 3.6%, below the company's first quarter catastrophe assumption by 1.2 points Current accident year loss and loss adjustment expense ("LAE") ratio, excluding catastrophes(4),... More