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Hanover Insurance Sees Record Q2 Performance
30 Jul
Summary
- Record second-quarter operating performance achieved by the insurer.
- Generated operating earnings of $5.31 per diluted share.
- Achieved an impressive operating return on equity of approximately 20%.
The Hanover Insurance Group has announced a record second-quarter operating performance. This achievement was fueled by enhanced underwriting margins, accelerated premium growth, and increased investment income across its diverse insurance portfolio.
President and CEO Jack Roche highlighted the company's success, reporting operating earnings of $5.31 per diluted share and an operating return on equity nearing 20%. Net written premiums grew by 4.6%, led by the Core Commercial and Specialty segments. Personal Lines also demonstrated strong margins and improving business momentum.
The company reported a combined ratio of 91.2% for the quarter, a 1.3 percentage point improvement year-over-year. Excluding catastrophes, the combined ratio was 85.5%. Favorable prior-year reserve development, totaling $21.5 million excluding catastrophes, contributed significantly across all operating segments.
Personal Lines experienced an 81.9% current accident-year combined ratio excluding catastrophes, a 2.9-point improvement. This was attributed to earned pricing strategies and benign frequency trends in property coverages.
