Find out more about Chaucer in the news, including new underwriting appointments, financial performance and our work in the community
WORCESTER, Mass., July 28, 2016 /PRNewswire/—The Hanover Insurance Group, Inc. (NYSE: THG) today reported net income of $2.0 million, or $0.05 per diluted share, for the second quarter of 2016, which included a previously announced non-operating charge of $56.0 million, net of tax, on the retirement of debt. This compared to net income of $120.7 million, or $2.68 per diluted share, in the prior-year quarter, which included a non-operating gain of $40.3 million, net of tax, on the sale of the U.K. motor business on June 30, 2015. Operating income was $54.0 million, or $1.24 per diluted share, for the second quarter of 2016, compared to $70.4 million, or $1.56 per diluted share, in the prior-year quarter.
Second Quarter Highlights
• Combined ratio of 97.3%, including 4.5 points of catastrophe losses
• Chaucer segment results impacted by catastrophe and large losses, as well as movement in foreign exchange rates
• Net premiums written(2) of $1.2 billion; down 5.6%, driven by the sale of the Chaucer U.K. motor business; U.S. net premiums written grew 2.9%
• Continued price increases in Commercial and Personal Lines
• Net investment income of $69.1 million
• Repurchased approximately 230,000 shares of common stock for $19.1 million, at an average price of $83.19 per share
• Book value per share of $70.58, up 1.8% from March 31, 2016, and up 6.6% from December 31, 2015; book value per share excluding net unrealized gains on investments of $62.99, down 0.8% and up 0.4%, respectively
News Download: The Hanover's Q2 2016 Financial ResultsMore
At Chaucer, the specialist Lloyd’s insurance group, we are extending our award winning Graduate Programme to Denmark , as we begin our search for a talented graduate to join us, initially at our Headquarters at the heart of the Lloyd’s market in London, and then as an underwriting team member at Chaucer CopenhagenMore
WORCESTER, Mass., May 16, 2016 — The Hanover Insurance Group, Inc. (NYSE: THG) today announced that it has named Joseph M. Zubretsky president, chief executive officer, and director effective June 20. He succeeds Frederick H. Eppinger, who last fall announced his intention to retire. They will work closely in the coming weeks to manage a smooth transition in leadership.More
Chaucer, the specialist Lloyd’s insurance group, has appointed Jonathan Bint as Political Risk Underwriter & Analyst.
Jonathan has been recruited to help drive Chaucer’s continued expansion of their political risk and trade credit product range alongside Deborah Wyatt, Head of Emerged Markets, who joined Chaucer in March to spearhead the development of the Political Risk Team’s solutions for emerged markets.
Jonathan has over two decades of financial markets experience and has worked with underwriters, regulators and rating agencies in the field of credit analysis, most recently as part of the credit and political risk underwriting team at XL Catlin.
Nick Kilhams, Head of Political Risk and Trade Credit at Chaucer commented:
“With Jonathan on board, our Emerged Markets Team is now fully in place and open for business. Jonathan is an excellent political risk analyst and in partnership with the team, at Chaucer we can now provide brokers and clients with comprehensive solutions for all their political risk and trade credit needs.”
Jonathan Bint, Political Risk Underwriter & Analyst at Chaucer added:
“I have joined Chaucer at an exciting time. I am pleased to be part of this growing team as we launch our enhanced political risk and trade credit solutions to meet brokers and clients’ requirements in the emerged markets.”
News Download: Chaucer expands PR & TC TeamMore