Hanover estimates Q2 cat losses of $157.1M; combined ratio 99.2% ex-CAT 88.5%

HANOVER INSURANCE GROUP, INC.

2024-Q2 EPS reported $4.30 revenue$3,087,800,000

Catastrophe losses $157.1M pre-tax (10.7 pts net earned premium) from severe convective storms, mostly Personal Lines.
Combined ratio of 99.2%; ex-CAT combined ratio of 88.5% for Q2 2024.
After-tax net income of $1.12 per diluted share; operating income of $1.88 per diluted share.
Executives cite catastrophe management plan progress and 'massive' YoY improvement in ex-CAT Personal Lines loss ratio.
Sale of lower coupon fixed income securities to offset expiring tax gains from 2021.

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