Hanover Q3 net income drops to $34M from $119M; combined ratio 102.3%

HANOVER INSURANCE GROUP, INC.

2021-Q3 EPS reported $6.98 revenue$3,853,100,000

Net income $34.0M ($0.94/diluted) vs $118.9M ($3.13/diluted) in prior-year quarter.
Operating income $30.8M ($0.85/diluted) vs $93.5M ($2.46/diluted) a year ago.
Combined ratio 102.3% (ex-cat 89.4%); catastrophe losses $153.5M including $75M from Hurricane Ida.
Net premiums written grew 8.4% to $1.38B; book value per share $87.04, down 1.3% from Q2.
Repurchased 175k shares for $24M in Q3; $371M remaining under buyback program.

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