earnings
confidence high
sentiment negative
materiality 0.80
Hanover reports Q2 net loss of $69.2M ($1.94/sh); Personal Lines combined ratio 138% on $261.6M cat losses
HANOVER INSURANCE GROUP, INC.
2023-Q2 EPS reported
-$2.27
revenue$2,948,100,000
- Net loss $69.2M vs prior-year net income $22.7M; operating loss $68.3M ($1.91/share).
- Combined ratio of 111.3% (92.8% ex-cats); catastrophe losses of $261.6M (18.5 points).
- Personal Lines operating loss before tax $194.1M; combined ratio 138% (38 pts from cats).
- Renewal price increases: Personal Lines 15.9%, Specialty 11.4%, Core Commercial 11.3%.
- Book value per share $62.62, down 6.4% from March 31; net investment income $87.6M (+24.3%).