earnings
confidence high
sentiment positive
materiality 0.80
Hanover Q2 net income $40.5M ($1.12/diluted) vs loss a year ago; combined ratio improves to 99.2% from 111.3%
HANOVER INSURANCE GROUP, INC.
2024-Q2 EPS reported
$4.30
revenue$3,087,800,000
- Operating income $68.1M ($1.88/diluted) vs operating loss $68.3M a year ago.
- Combined ratio, ex-catastrophes: 88.5% vs 92.8% in Q2 2023; catastrophe losses fell to $157.1M (10.7 pts) from $263.6M (18.5 pts).
- Net premiums written up 5.1% to $1.52B; renewal price increases: Personal Lines 18.5%, Core Commercial 11.7%, Specialty 11.7%.
- Personal Lines operating loss narrowed to $30.4M from $194.1M; combined ratio 109.1% vs 138.0%.
- Net investment income $90.4M (+3.2%); ex-partnership income up 19.5%. Book value per share $70.96, up 1.1% from Q1 2024.