Hanover posts Q1 net loss of $12.0M; operating EPS $0.13 vs $3.26 prior; combined ratio 104.4%

HANOVER INSURANCE GROUP, INC.

2023-Q1 EPS reported -$0.34 revenue$1,443,700,000

Net loss $12.0M (-$0.34/sh); operating income $4.6M ($0.13/sh) vs $117.7M ($3.26/sh) a year ago.
Combined ratio 104.4% (catastrophes 12.7 pts); underlying ex-cat ratio 91.7% in line with expectations.
Catastrophe losses $175.0M driven by severe freeze events in Northeast/Midwest and widespread storms.
Net premiums written +8.3%; renewal price change: Core Commercial 11.5%, Specialty 12.6%, Personal Lines 12.7%.
Book value per share $66.89, up 2.0% from Dec. 31, 2022; no share repurchases in quarter.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HANOVER INSURANCE GROUP, INC. reported the quarter ended March 31, 2023 results: revenue $1,380.0, net income $(12.0), EPS $(0.34) per basic share.

Period: the quarter ended March 31, 2023
Revenue: $1,380.0
Net income: $(12.0)
EPS: $(0.34) per basic share
Result: reported results

Exact text from the filing

priorities.” Three months ended March 31 ($ in millions, except per share data) 2023 2022 Net premiums written $ 1,421.5 $ 1,312.3 Growth 8.3 % 9.7 % Net premiums earned $ 1,380.0 $ 1,263.8 Current accident year loss and LAE ratio, excluding catastrophes (3) 61.2 % 59.2 % Prior-year development ratio (0.2) % (0.5) % Catastrophe ratio 12.7 % 3.6 % Expense

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Source: SEC EDGAR

accession 0000950170-23-016753

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