Find out more about Chaucer in the news, including new underwriting appointments, financial performance and our work in the community
We are pleased to announce the expansion of our Accident & Health capabilities, with the appointment of Mike Bridgeman and Amelia Fenton in London. The Team will write standard and specialist products providing death, disability, medical and ancillary benefits for a range of groups and individuals, including schemes and affinity groups.
News Download: New Specialty A&H Team in LondonMore
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