WORCESTER, Mass., November 3, 2016 - The Hanover Insurance Group, Inc. (NYSE: THG) today reported net income of $88.4 million, or $2.06 per diluted share, for the third quarter of 2016, compared to net income of $78.3 million, or $1.74 per diluted share, in the prior-year quarter. Operating income was $78.6 million, or $1.83 per diluted share, for the third quarter of 2016, compared to $72.2 million, or $1.61 per diluted share, in the prior-year quarter.
Third Quarter Highlights
- Combined ratio of 94.2%, including 2.3 points of catastrophe losses
- Net premiums written(2) of $1.3 billion; up 4.3%, driven by growth in domestic businesses
- Continued price increases in Commercial and Personal Lines
- Stable net investment income of $67.8 million
- Book value per share of $72.08, up 2.1% from June 30, 2016, and up 8.9% from December 31, 2015; book value per share excluding net unrealized gains on investments of $64.48, up 2.4% and 2.8%, respectively
- Repurchased approximately 465,000 shares of common stock for $37.7 million