Hanover Insurance (NYSE: THG) taps Richard Lavey as CEO-Elect for 2026 handoff
Rhea-AI Filing Summary
The Hanover Insurance Group, Inc. announced a planned CEO succession. President and CEO John C. Roche will retire as CEO and board member effective December 31, 2026, following a 40-year career in the insurance industry, and will remain in an advisory role through January 8, 2027.
The board has appointed Richard W. Lavey, currently executive vice president and chief operating officer, as CEO-Elect, with the intent to make him CEO upon Roche’s retirement and to elect him to the board effective January 1, 2027. The company states that Roche’s retirement is not related to any disagreement over its operations, policies, or practices, and plans to address the transition on a July 29, 2026 earnings call and at an investor day on September 17, 2026.
Positive
- None.
Negative
- None.
8-K Event Classification
Key Figures
Key Terms
CEO-Elect financial
property and casualty insurance financial
independent agents and brokers financial
investor day financial
Hanover Agency Markets financial
FAQ
When will THG CEO John C. Roche retire from The Hanover Insurance Group?
Who has been named CEO-Elect at The Hanover Insurance Group (THG)?
What is Richard W. Lavey’s background before becoming CEO-Elect at THG?
When will THG discuss the CEO succession with investors and analysts?
What type of business does The Hanover Insurance Group (THG) operate?
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code:
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbols |
Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On July 15, 2026, The Hanover Insurance Group, Inc. (the “Company”) announced that John C. Roche, its current President and Chief Executive Officer (“CEO”) and member of the Board of Directors (the “Board”) will retire as President and CEO and as a member of the Board effective December 31, 2026.
In connection with Mr. Roche’s retirement, the Company appointed Richard W. Lavey as CEO-Elect, with the intent of appointing him as CEO upon Mr. Roche’s retirement at the end of the year. The Board intends to elect Mr. Lavey as a member of the Board effective January 1, 2027.
Mr. Lavey, 59, has served as Executive Vice President and Chief Operating Officer since March 2025. He served as the Company’s Executive Vice President and President, Hanover Agency Markets from 2017, until his appointment as Chief Operating Officer. Mr. Lavey previously served as Executive Vice President, Chief Growth Innovation Officer from February 2017 to November 2017. Prior to that time, he was President, Personal Lines of the Company since 2014 and Chief Marketing Officer since 2011, assuming responsibility for Field Operations in 2016. Mr. Lavey joined the Company in 2004 and during this time has also served in the following roles: Chief Distribution Officer, Senior Vice President, Operations and Marketing; Regional President, Northeast; and Vice President, Field Operations and Marketing and Distribution. Prior to joining the Company, Mr. Lavey worked for The Hartford Financial Services Group, Inc. and The Travelers Corp.
Mr. Roche will remain an employee of the Company in an advisory capacity following his retirement through January 8, 2027.
Mr. Roche’s retirement is not related to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
A copy of the press release reporting the announcement of Mr. Lavey’s appointment and Mr. Roche’s retirement is attached as Exhibit 99.1 to this Current Report on Form 8-K.
| Item 9.01 | Financial Statements and Exhibits. |
| (a) | Not applicable. |
| (b) | Not applicable. |
| (c) | Not applicable. |
| (d) | Exhibits. |
The following exhibits are furnished herewith.
| Exhibit 99.1 | Press Release of The Hanover Insurance Group, Inc. dated July 15, 2026. | |
| Exhibit 104 | Cover Page Interactive Data File (embedded within XBRL document) | |
- 2 -
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| The Hanover Insurance Group, Inc. (Registrant) | ||||||
| Date: July 15, 2026 | By: | /s/ Dennis F. Kerrigan | ||||
| Dennis F. Kerrigan | ||||||
| Executive Vice President, Chief Legal Officer and Corporate Secretary | ||||||
-3-
Exhibit 99.1
The Hanover Announces CEO Succession Plan: John C. Roche to Retire as President and CEO at the End of 2026; Chief Operating Officer Richard W. Lavey Named CEO-Elect
WORCESTER, Mass., July 15, 2026 – The Hanover Insurance Group, Inc., (NYSE:THG), a leading property and casualty insurance company, announced today that John “Jack” C. Roche, president and chief executive officer, has informed the company’s Board of Directors he plans to retire on December 31, 2026, following a distinguished 40-year career in the insurance industry. Richard “Dick” W. Lavey, chief operating officer and president of Hanover Agency Markets, has been appointed by the board as CEO-elect and will work closely with Roche to ensure a successful transition.
| “The Board of Directors is deeply grateful to Jack for his outstanding leadership and the significant impact he’s made to The Hanover,” said Cynthia L. Egan, chair of the board at The Hanover. “He has driven progress in every dimension of the company, not the least of which is working closely with the board and with Dick to ensure that we have an exceptional CEO to elevate the company to its next level.”
Roche, 62, joined The Hanover in 2006 and was appointed president and chief executive officer in 2017. Under his leadership, the company achieved record operating earnings, outstanding stock price appreciation and strengthened its position as a premier property and casualty company in the independent agency channel. In addition to his responsibilities at The Hanover, Roche serves the insurance industry as vice chair of the board of trustees for The Institutes, a member of the board of directors for the American Property Casualty Insurance Association, and as a member of the board of overseers of St. John’s University Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science. |
|
“I will retire at the end of the year with tremendous pride in all our organization has accomplished,” Roche said. “The company is in a strong financial position and has the exceptional talent needed to drive our business forward. Having worked closely with Dick for more than two decades, I have complete confidence in his leadership and his ability to guide our company forward. Together, we will ensure a seamless and successful transition.”
“Dick is an accomplished executive whose deep experience spans the insurance and technology industries,” said Egan. “His impressive contributions have been central in the successful expansion of the company’s strategy, shaping The Hanover into a leading partner for independent agents and a top-performing company. From repositioning the firm’s personal and core commercial lines growth and profitability to his critical leadership in driving technology advancements, Dick has the insight, strategic vision and passion to lead the company through the next chapter of its remarkable journey.”
|
Lavey, 59, joined The Hanover in 2004 and held a series of executive leadership positions over his 22-year tenure. Currently, Lavey serves as chief operating officer where he directs the strategic transformation of the company’s operating model, augmenting the partnership between its business and technology functions. In his role as president of Hanover Agency Markets, Lavey leads the growth and performance of core commercial and personal lines, which combined represent 75% of The Hanover’s $7 billion consolidated gross premiums written. Earlier in his tenure, Lavey served as chief marketing officer, chief growth innovation officer, president of personal lines and president of the organization’s northeast region, among other key positions.
Prior to The Hanover, Lavey held leadership roles in sales, distribution, marketing and strategy at a number of insurance and technology companies, including The Hartford and The Travelers Insurance Company. He recently served as chairman of the board for the National Council on Compensation |
Insurance (NCCI). Lavey is a Phi Beta Kappa graduate of The College of Holy Cross and earned his Master of Business Administration degree from Harvard Business School.
“I am honored to lead our organization at such a transformative time in our business. I am energized to continue our momentum to accelerate growth, drive performance and deliver lasting value for our stakeholders,” said Lavey.
The company will be available to answer questions at its upcoming earnings call, scheduled for Wednesday, July 29, 2026. The Hanover also plans to share an update on the company’s strategy and future outlook at its investor day on September 17, 2026. To learn more, visit The Hanover’s investor relations page at investors.hanover.com.
About The Hanover
The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agent partners, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. For more information, please visit hanover.com.
Contacts:
| Oksana Lukasheva | Emily P. Trevallion | |
| Investor Relations | Media Relations | |
| olukasheva@hanover.com | etrevallion@hanover.com | |
| 508-525-6081 | 508-855-3263 | |