earnings
confidence high
sentiment negative
materiality 0.80
Hanover estimates Q3 catastrophe losses $150-165M pre-tax; driven by Hurricane Ida
HANOVER INSURANCE GROUP, INC.
- Preliminary Q3 catastrophe loss estimate $150-165M pre-tax ($119-130M after-tax), $97M above load.
- Hurricane Ida contributes ~$75M pre-tax losses, mainly in Northeast and Gulf/Mid-Atlantic regions.
- 18 industry catastrophe events in Jul-Aug impacted company's footprint along with Ida.
- Q3 full results due Oct 27 after close; virtual investor day on Sep 23.