Hanover Insurance Group (THG) Misses Q3 EPS by 89c
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The Hanover Reports Third Quarter Results
November 1, 2022 4:06 PM EDTThird Quarter Highlights
Combined ratio of 101.0%; combined ratio, excluding catastrophes(1), of 94.2%Catastrophe losses of $90.1 million, or 6.8 points of the combined ratio, including the impact from Hurricane Ian of $28.0 millionNet premiums written increase of 9.5%*, with contributions from each segmentRenewal price change(2) of 11.2% in Core Commercial, 12.4% in Specialty and 7.3% in Personal Lines, driven by homeowners renewal price change of 12.1%Rate increases(2) of 7.3% in Core Commercial, 8.0% in Specialty and 4.0% in Personal LinesCurrent accident year loss and loss adjustment expense ("LAE") ratio, excluding catastrophes(3), of 64.1% reflecting higher-than-expected inflation, primarily... More