Hanover estimates Q2 cat loss $262M; net loss $(1.94)/share

HANOVER INSURANCE GROUP, INC.

2023-Q2 EPS reported -$2.27 revenue$2,948,100,000

Preliminary Q2 cat loss ~$262M pre-tax (18.5 pts net earned premium) from 19 convective storms, mostly hail.
Expected combined ratio 111.3%; ex-cat combined ratio 92.8%.
Net loss per basic share $(1.94); operating loss per basic share $(1.91).
Personal Lines hardest hit; Michigan key market; homeowners renewal price increases of 22% in Q2.
Margin recapture progress includes higher property pricing and successful July 1 reinsurance renewal.

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 Three months ended June 30, 2023 results: EPS after-tax net loss per basic share of $(1.94).

Period: Three months ended June 30, 2023
EPS: after-tax net loss per basic share of $(1.94)
Result: preliminary results

Exact text from the filing

The Hanover also expects to report an after-tax net loss per basic share of $(1.94) and operating loss per basic share (2) of $(1.91) for the second quarter.

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HANOVER INSURANCE GROUP, INC. filing history →

Source: SEC EDGAR

accession 0000950170-23-033617

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