Welcome to our dedicated page for Hanover Insuranc news (Ticker: THG), a resource for investors and traders seeking the latest updates and insights on Hanover Insuranc stock.
The Hanover Insurance Group, Inc. (NYSE: THG) is a holding company for several property and casualty insurance companies that together constitute one of the largest insurance businesses in the United States, according to the company’s public statements. This news page aggregates coverage related to The Hanover’s insurance operations, financial performance, capital management, and product developments.
Company news releases highlight The Hanover’s focus on providing standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. Updates often describe new or enhanced offerings in areas such as complex industrial property risks and life sciences organizations, reflecting the company’s activity in specialty commercial insurance within its broader property and casualty framework.
Investors and other readers can expect news about quarterly and full-year financial results, including combined ratios, net income, operating income, and segment performance in Core Commercial, Specialty, and Personal Lines, as reported by the company. Announcements also cover dividend declarations and increases, debt issuance and redemptions, and participation in investor conferences, illustrating how The Hanover manages its capital structure and engages with the investment community.
In addition, The Hanover publishes news about external recognitions, such as inclusion on lists compiled by TIME and Forbes, and other awards related to workplace and corporate responsibility. Together, these items provide context on how the company presents its role as a U.S.-based property and casualty insurer serving individuals, families, and businesses. This page offers a centralized view of those public communications over time.
The Hanover Insurance Group (NYSE: THG) will host a virtual Investor Day on September 23, 2021, from 9:00 a.m. to 12:30 p.m. ET. The event aims to showcase the company's strategic priorities and financial targets for the next five years. Presentations will include insights from John C. Roche, CEO, and Jeffrey M. Farber, CFO, along with the senior management team. Attendees can register on the company's website for the live webcast, with a replay available post-event.
The Hanover Insurance Group (NYSE: THG) reported a net income of $128.5 million for Q2 2021, up from $115.2 million in Q2 2020, translating to $3.52 per diluted share. Operating income surged to $104.0 million, or $2.85 per share, compared to $62.7 million a year ago. Net premiums written rose 11.7% to $1.207 billion, with a combined ratio of 94.4%. Despite $76.8 million in catastrophe losses, the company achieved a 4.8% increase in book value per share to $88.23. Net investment income increased by 31.0% year-over-year.
The Hanover Insurance Group (NYSE: THG) launched its new TAP Sales platform aimed at small commercial insurance. This innovative tool streamlines the quoting process, cutting the time to generate a quote by nearly 50%. Key features include intuitive navigation, pre-filled fields, and quick policy delivery. The TAP Sales platform also enables agents to issue enhanced business owner policies. Following a successful rollout in several states, Hanover plans to extend its implementation nationwide, enhancing its digital capabilities and support for small businesses.
The Hanover Insurance Group (NYSE: THG) announced enhancements to its Hanover Lawyers Advantage and Hanover Healthcare Facilities Advantage product suites on July 8, 2021. The upgrades focus on specialized professional liability solutions tailored for law firms and healthcare facilities. Key features include customizable client limits and new coverage options, such as privacy liability and employee theft protections. These improvements aim to address emerging risks in the professional liability market, providing greater flexibility and security to clients in these industries.
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The Hanover Insurance Group, Inc. (NYSE: THG) will announce its second quarter financial results after the market closes on July 27, 2021. A webcast to discuss these results is scheduled for July 28, 2021, at 10:00 a.m. ET, available on their website. The Hanover is a major player in the U.S. property and casualty insurance market, providing a wide range of insurance solutions through independent agents for businesses and personal insurance needs.
AM Best has reaffirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (ICR) of “a+” (Excellent) for The Hanover Insurance Group (THG). These ratings reflect the group's strong balance sheet strength, adequate operating performance, and favorable business profile. The group stands out with a strong market position in the U.S. property/casualty sector and improved underwriting profitability over five years. The outlook is stable for both THG and its subsidiaries.
The Hanover Insurance Group, Inc. (NYSE: THG) has declared a quarterly dividend of $0.70 per share, scheduled for payment on June 25, 2021. This dividend will be paid to shareholders who are on record as of June 11, 2021. The company cautions that future dividends may be adjusted based on several risks and uncertainties. As one of the largest property and casualty insurance firms in the U.S., Hanover provides a range of insurance solutions through independent agents and brokers.
The Hanover Insurance Group, Inc. (NYSE: THG) has increased its share repurchase authorization by $400 million, raising the total to $1.3 billion. With $435 million remaining available for repurchases, this move reflects the company's strong operational performance. In 2020 and early 2021, Hanover returned $428 million to shareholders through buybacks and dividends. Repurchases will be done at the company's discretion and may include various transaction methods, allowing flexibility in market conditions.
The Hanover Insurance Group (NYSE: THG) reported a strong Q1 2021 with net income of $92.7 million, or $2.51 per diluted share, compared to a net loss of $40 million in the previous year. The company saw a 5.2% increase in net premiums written, totaling $1.2 billion, amid significant catastrophe losses of $133.3 million due to weather events. Operating income was $61.4 million, down from $86.8 million year-over-year. The combined ratio stood at 98.8%, with a favorable current accident year loss ratio of 56.4%. Book value per share decreased by 4.3% from December 2020 to $84.21.