Hanover estimates Q3 catastrophe losses of $195.8M, combined ratio 104.4%

HANOVER INSURANCE GROUP, INC.

2023-Q3 EPS reported -$2.03 revenue$4,464,700,000

Catastrophe loss estimate of $195.8M pre-tax (13.7 pts of NEP) from Midwest convective storms; hail and wind damage primarily in Personal Lines.
Expected Q3 combined ratio of 104.4%; combined ratio ex-catastrophes 90.7%.
Expected after-tax net income $0.24 per diluted share; operating income $0.19 per diluted share.
Homeowners renewal prices increased 23.4% in Q3; expected 27% in Q4 as part of margin recapture plan.
CEO cites decisive underwriting actions including wind/hail deductibles, aged roof amortization, and strengthened terms and conditions.

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 third quarter 2023 results: net income after-tax net income of $0.24 per diluted share, EPS $0.24 per diluted share.

Period: third quarter 2023
Net income: after-tax net income of $0.24 per diluted share
EPS: $0.24 per diluted share
Result: preliminary results

Exact text from the filing

The company also expects to generate after-tax net income of $0.24 per diluted share and operating income of $0.19 per diluted share (2) for the third quarter.

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HANOVER INSURANCE GROUP, INC. filing history →

Source: SEC EDGAR

accession 0000950170-23-053992

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