The Hanover Q1 2017 Financial Results

4 May 2017

The Hanover Q1 2017 Financial Results

WORCESTER, Mass., May 3, 2017 - The Hanover Insurance Group, Inc. (NYSE: THG) today reported net income of $45.2 million, or $1.05 per diluted share, for the first quarter of 2017, compared to $78.2 million, or $1.80 per diluted share, in the prior-year quarter. Operating income was $40.8 million, or $0.95 per diluted share, for the first quarter of 2017, compared to $71.5 million, or $1.64 per diluted share, in the prior-year quarter.

First Quarter Highlights

  • Catastrophe losses of $84.1 million before taxes, or 7.1% of earned premiums, primarily from domestic catastrophe events in the Midwest; this compared to $31.2 million, or 2.7%, in the prior-year quarter
  • Combined ratio, excluding catastrophes(2) of 92.4%, in line with the first quarter of 2016
  • No domestic prior-year loss reserve development
  • Net premiums written up 3.7%, driven by growth in domestic businesses
  • Continued price increases in Personal and Commercial Lines
  • Net investment income of $71.1 million in the first quarter, up 4.1% compared to the prior-year period
  • Book value per share of $68.44, up 1.5% from December 31, 2016; book value per share excluding net unrealized gains on investments(3) of $63.62, up 1.0%

The Hanover Q1 2017 Financial Results


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