Hanover Insuranc - THG STOCK NEWS

The Hanover Insurance Group (THG) reported strong Q3 2024 results with net income of $102.1 million ($2.80 per share) and operating income of $111.3 million ($3.05 per share). The company achieved a combined ratio of 95.5% and net premiums written growth of 4.2%. Key highlights include renewal price increases of 15.4% in Personal Lines, 12.9% in Core Commercial, and 10.1% in Specialty. Net investment income rose 9.0% to $91.8 million, primarily due to higher bond reinvestment yields. Book value per share increased 12.6% to $79.90, driven by unrealized gains and strong earnings. The company reported net and operating return on equity of 15.0% and 14.4% respectively for Q3 2024.

The Hanover Insurance Group, Inc. (NYSE: THG) has announced that it will release its third quarter financial results after the market closes on Wednesday, October 30. The company plans to host a webcast discussion of these results on Thursday, October 31, at 10:00 a.m. ET, which will be accessible through their website at hanover.com.

The Hanover Insurance Group is a holding company for several property and casualty insurance companies, forming one of the largest insurance businesses in the United States. They offer standard and specialized insurance protection for small and mid-sized businesses, homes, automobiles, and other personal items through a select group of independent agents and brokers.

The Hanover Insurance Group (NYSE: THG) has announced a quarterly dividend of $0.85 per share on its outstanding common stock. This dividend will be payable on September 27, 2024, to shareholders of record at the close of business on September 13, 2024. The declaration of this dividend by the board of directors demonstrates The Hanover's commitment to providing consistent returns to its shareholders. This announcement is significant for investors as it provides information about the company's financial health and its ability to distribute profits to shareholders.

The Hanover Insurance Group (NYSE: THG) has announced its participation in the Keefe, Bruyette & Woods Insurance Conference on September 5, 2024. John C. Roche, president and CEO, and Jeffrey M. Farber, executive vice president and CFO, will engage in a fireside chat from 11:20 a.m. to 12:00 p.m. E.T.

The discussion will be broadcast live on the company's website at hanover.com under the 'Investors' section. For those unable to attend, a replay of the event will be made available on The Hanover website approximately one hour after the discussion concludes.

The Hanover Insurance Group (NYSE: THG) has expanded its Hanover Work Safe program, enhancing its workers' compensation claim services. The program now offers a personalized approach to worker safety, considering not only physical injuries but also psychological, social, and economic factors that may impact recovery and return to work.

The enhanced program uses data and predictive analytics to gain insights into factors affecting injured workers' treatment. Claims specialists proactively assess various aspects, including stress levels, health beliefs, and relationships, to structure a more holistic claims response. The approach includes administering surveys to both injured employees and employers at the time of injury, allowing for earlier identification of potential barriers to recovery.

Hanover Work Safe also provides resources for injury prevention and response planning, covering areas such as organizational safety management, employee training, and risk assessment. These integrated risk management and claims service offerings are available to all Hanover policyholders as part of the program.

The Hanover Insurance Group (NYSE: THG) reported robust second-quarter earnings for 2024. Key metrics include a net income of $40.5 million ($1.12 per diluted share), reversing a prior-year net loss of $69.2 million. Operating income reached $68.1 million ($1.88 per diluted share), compared to a $68.3 million operating loss last year. The combined ratio improved to 99.2%, with a significant decrease in catastrophe losses. Net premiums written increased by 5.1%, while investment income rose by 3.2% to $90.4 million. Book value per share climbed to $70.96.

Segment-wise, Core Commercial showed a 5.5% rise in net premiums written and a lower combined ratio of 91.8%. Specialty reported an 8.2% increase in net premiums written but a higher combined ratio of 93.1% due to increased catastrophe losses. Personal Lines saw a 3.3% rise in net premiums written and a lower combined ratio of 109.1%, despite high catastrophe losses. The company also highlighted strategic initiatives in catastrophe risk management and digital advancements.

Looking forward, The Hanover expects ongoing improvements in underwriting margins and investment yields.

The Hanover Insurance Group (NYSE: THG) has been recognized as a top employer by two prestigious organizations. U.S. News & World Report named The Hanover to its 2024-2025 Best Companies to Work For list, while the Disability Equality Index recognized it as a 2024 Best Place to Work for People with Disabilities.

The U.S. News & World Report ranking evaluated 200 public companies based on factors such as pay, benefits, work-life balance, job stability, and career opportunities. The Disability Equality Index, scoring The Hanover at 100, assessed the company's disability inclusion efforts across culture, accessibility, employment practices, community engagement, and supplier diversity.

Denise Lowsley, chief human resources officer at The Hanover, emphasized the company's focus on creating an inclusive environment where employees feel appreciated and supported, recognizing their importance in serving customers effectively.

The Hanover Insurance Group (NYSE: THG) has released its second Sustainability Report, showcasing the company's progress in responsible, environmentally sustainable, and robust corporate governance practices. With a history spanning over 170 years, The Hanover has built a reputation for delivering on promises to stakeholders.

Key highlights of the report include:

• Efforts to reduce environmental impact
• Management of catastrophe risks
• Investment in local communities
• Advancement of a safe and inclusive workplace
• Promotion of responsible and ethical business practices

John C. Roche, president and CEO, emphasized the importance of this holistic approach for the organization's resilience and long-term success. The full report is available on the company's website.

The Hanover Insurance Group (NYSE: THG) has announced preliminary estimates for Q2 2024, including catastrophe losses of $157.1 million before taxes, or 10.7 points of net earned premium. These losses primarily resulted from severe convective storm activity, mostly impacting the Personal Lines business. Despite this, the company expects to report:

- A combined ratio of 99.2%
- An ex-CAT combined ratio of 88.5%
- After-tax net income of $1.12 per diluted share
- Operating income of $1.88 per diluted share

The company highlighted the effectiveness of its catastrophe management plan initiated last year, which includes revising terms and conditions, increasing deductibles, and implementing rate increases. The Hanover also reported significant improvement in its ex-CAT Personal Lines loss ratio, driven by enhanced profitability in auto and homeowners lines.