Hanover Insurance Group (THG) Tops Q2 EPS by 20c
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The Hanover Reports Second Quarter Net Income and Operating Income of $0.63 and $2.32 per Diluted Share, Respectively; Combined Ratio of 96.2%; Combined Ratio, Excluding Catastrophes, of 90.2%
August 2, 2022 4:13 PM EDTSecond Quarter Highlights
Net premiums written increase of 10.4%*, with strong growth from each segmentRate increases(1) of 6.9% in Core Commercial, 8.0% in Specialty and 3.2% in Personal LinesRenewal price change(1) of 11.0% in Core Commercial, 12.0% in Specialty and 5.4% in Personal LinesCatastrophe losses of $77.4 million, or 6.0 points of the combined ratio, including favorable development on prior-year catastrophesCurrent accident year loss and loss adjustment expense ("LAE") ratio, excluding catastrophes(2), of 60.1%, included improved loss ratios within Specialty and Core Commercial, which were more than offset by the impact of higher property... More