The Hanover Insurance Group Inc.
07/28/2026 | Press release | Distributed by Public on 07/28/2026 14:53
Second Quarter Highlights (Form 8-K)
Second Quarter Highlights
•
Combined ratio of 91.2%; combined ratio, excluding catastrophes(1), of 85.5%
•
Catastrophe losses of $91.8 million, or 5.7 points of the combined ratio
•
Net premiums written increase of 4.6%*
•
Renewal price increases(2) of 8.7% in Personal Lines, 7.8% in Core Commercial and 3.6% in Specialty
•
Rate increases(2) of 7.0% in Core Commercial, 4.8% in Personal Lines and 2.1% in Specialty
•
Loss and loss adjustment expense (LAE) ratio of 60.2%, 1.7 points below the prior-year quarter
•
Current accident year loss and LAE ratio, excluding catastrophes(3), of 55.8%, 0.3 points below the prior-year quarter
•
Net investment income of $119.6 million, up 13.4% from the prior-year quarter
•
Book value per share of $105.40, up 3.5% from March 31, 2026; excluding net unrealized depreciation on fixed maturity investments, net of tax(4), book value per share increased 3.8%
WORCESTER, Mass., July 28, 2026 - The Hanover Insurance Group, Inc. (NYSE: THG) today reported net income of $191.6 million, or $5.38 per diluted share, in the second quarter of 2026, compared to $157.1 million, or $4.30 per diluted share, in the prior-year quarter. Operating income(5) was $189.2 million, or $5.31 per diluted share, in the second quarter of 2026, compared to $158.7 million, or $4.35 per diluted share, in the prior-year quarter. The company reported net and operating return on equity(6) of 21.2% and 19.8%, respectively, in the second quarter of 2026, and 21.0% and 20.0% in the first six months of 2026, respectively.
"Our very successful second quarter is a testament to the strength of our business model, the durable earnings power we have built across The Hanover and the disciplined execution of our team," said John C. Roche, president and chief executive officer at The Hanover. "We posted operating return on equity of approximately 20% and operating earnings of $5.31 per share, both second quarter records, as well as accelerated top-line premium growth. We are effectively navigating evolving market conditions, and achieving healthy pricing, while building growth momentum in the most attractive areas of our portfolio."
"This quarter reflects the talent of our employees, the strength of our leadership team, the depth of our agency relationships and the trust our customers place in us every day," said Roche. "As we announced earlier this month, I plan to retire at the end of 2026. It's been a great honor to serve the last nine years as CEO, and I could not be more optimistic about The Hanover's future. Dick Lavey has been one of the key architects of our strategy and the transformation of our company. We
(1) See information about this and other non-GAAP measures and definitions, including Operating Income and Operating Return on Equity in the headline, used throughout this press release on the final pages of this document.
*Unless otherwise stated, net premiums written growth and other growth comparisons are to the same period of the prior year.
The Hanover Insurance Group, Inc. may also be referred to as "The Hanover" or "the company" interchangeably throughout this press release.
will continue to work closely together through the remainder of the year to ensure a seamless transition. Dick's leadership, expertise and strategic vision position him well to successfully lead The Hanover into its next chapter."
"We are pleased with our excellent performance, including outstanding underwriting profitability as demonstrated by our combined ratio of 91.2%, and 85.5% excluding catastrophes," said Jeffrey M. Farber, executive vice president and chief financial officer at The Hanover. "Additionally, we delivered robust net investment income, up 13%, driven by higher earned yields and strong operating cash flows, while continued favorable development reinforces our confidence in the strength of our reserve position. The profitability of our business continues to build capital, enabling increased share repurchases while maintaining the balance sheet strength and financial flexibility for future growth opportunities and deployment. Following a really strong start to the year, we enter the second half of 2026 with confidence, supported by our varied earnings streams, resilient balance sheet and disciplined focus on capital allocation."
Second Quarter 2026 Highlights
|
Three months ended |
Six months ended |
|||||||||||||||
|
June 30 |
June 30 |
|||||||||||||||
|
($ in millions, except per share data) |
2026 |
2025 |
2026 |
2025 |
||||||||||||
|
Net premiums written |
$ |
1,656.8 |
$ |
1,583.8 |
$ |
3,216.5 |
$ |
3,094.6 |
||||||||
|
Growth |
4.6 |
% |
4.1 |
% |
3.9 |
% |
4.0 |
% |
||||||||
|
Net premiums earned |
$ |
1,597.6 |
$ |
1,545.3 |
$ |
3,168.2 |
$ |
3,053.8 |
||||||||
|
Current accident year loss and LAE ratio, |
55.8 |
% |
56.1 |
% |
56.1 |
% |
57.2 |
% |
||||||||
|
Prior-year development ratio |
(1.3) |
% |
(1.2) |
% |
(1.5) |
% |
(1.3) |
% |
||||||||
|
Catastrophe ratio |
5.7 |
% |
7.0 |
% |
6.0 |
% |
6.7 |
% |
||||||||
|
Expense ratio(7) |
31.0 |
% |
30.6 |
% |
30.8 |
% |
30.7 |
% |
||||||||
|
Combined ratio |
91.2 |
% |
92.5 |
% |
91.4 |
% |
93.3 |
% |
||||||||
|
Combined ratio, excluding catastrophes |
85.5 |
% |
85.5 |
% |
85.4 |
% |
86.6 |
% |
||||||||
|
Current accident year combined ratio, |
86.8 |
% |
86.7 |
% |
86.9 |
% |
87.9 |
% |
||||||||
|
Net income |
$ |
191.6 |
$ |
157.1 |
$ |
378.4 |
$ |
285.3 |
||||||||
|
per diluted share |
5.38 |
4.30 |
10.58 |
7.80 |
||||||||||||
|
Operating income |
189.2 |
158.7 |
377.7 |
300.5 |
||||||||||||
|
per diluted share |
5.31 |
4.35 |
10.55 |
8.22 |
||||||||||||
|
Book value per share |
$ |
105.40 |
$ |
89.62 |
$ |
105.40 |
$ |
89.62 |
||||||||
|
Ending shares outstanding (in millions) |
34.9 |
35.9 |
34.9 |
35.9 |
||||||||||||
2
Second Quarter Operating Highlights
Core Commercial
Core Commercial operating income before income taxes was $77.5 million in the second quarter of 2026, compared to $83.9 million in the second quarter of 2025. The Core Commercial combined ratio was 95.7%, compared to 93.0% in the prior-year quarter. Catastrophe losses in the second quarter of 2026 were $26.4 million, or 4.6 points of the combined ratio. This compared to catastrophe losses of $22.7 million, or 4.1 points, in the prior-year quarter.
Second quarter 2026 results included net favorable prior-year reserve development, excluding catastrophes, of $0.6 million, or 0.1 points, compared to $3.0 million, or 0.5 points, in the second quarter of 2025.
Core Commercial current accident year combined ratio, excluding catastrophes, increased 1.8 points, to 91.2% in the second quarter of 2026, compared to 89.4% in the prior-year quarter. The current accident year loss and LAE ratio, excluding catastrophes, was 58.7%, 2.2 points higher than the prior-year quarter, but 0.4 points improved from the full year of 2025. In the second quarter of 2026, the company prudently increased loss ratio selections in liability coverages. Additionally, the loss ratio in the prior-year quarter benefited from lower-than-usual property losses.
The expense ratio decreased by 0.4 points, to 32.5%, in the second quarter of 2026, compared to the prior-year quarter, reflecting fixed cost leverage and efficiency gains.
Net premiums written were $574.8 million in the second quarter of 2026, up 7.2% from the prior-year quarter, an acceleration from the first quarter of 2026, reflecting growth of 6.0% in small commercial and 9.4% in middle market (approximately 7% growth in middle market excluding non-recurring items). Core Commercial renewal price increases averaged 7.8%, including average rate increases of 7.0%.
The following table summarizes premiums and the components of the combined ratio for Core Commercial:
|
Three months ended |
Six months ended |
|||||||||||||||
|
June 30 |
June 30 |
|||||||||||||||
|
($ in millions) |
2026 |
2025 |
2026 |
2025 |
||||||||||||
|
Net premiums written |
$ |
574.8 |
$ |
536.0 |
$ |
1,205.2 |
$ |
1,140.6 |
||||||||
|
Growth |
7.2 |
% |
4.4 |
% |
5.7 |
% |
4.1 |
% |
||||||||
|
Net premiums earned |
579.3 |
554.3 |
1,143.1 |
1,095.3 |
||||||||||||
|
Operating income before taxes |
77.5 |
83.9 |
152.3 |
110.7 |
||||||||||||
|
Loss and LAE ratio |
63.2 |
% |
60.1 |
% |
63.5 |
% |
65.0 |
% |
||||||||
|
Expense ratio |
32.5 |
% |
32.9 |
% |
32.6 |
% |
33.2 |
% |
||||||||
|
Combined ratio |
95.7 |
% |
93.0 |
% |
96.1 |
% |
98.2 |
% |
||||||||
|
Prior-year development ratio |
(0.1) |
% |
(0.5) |
% |
(0.2) |
% |
(0.4) |
% |
||||||||
|
Catastrophe ratio |
4.6 |
% |
4.1 |
% |
5.0 |
% |
6.3 |
% |
||||||||
|
Combined ratio, excluding catastrophes |
91.1 |
% |
88.9 |
% |
91.1 |
% |
91.9 |
% |
||||||||
|
Current accident year combined ratio, |
91.2 |
% |
89.4 |
% |
91.3 |
% |
92.3 |
% |
||||||||
3
Specialty
Specialty operating income before income taxes was $68.4 million in the second quarter of 2026, compared to $71.2 million in the second quarter of 2025. The Specialty combined ratio was 88.3%, compared to 86.5% in the prior-year quarter. Catastrophe losses in the second quarter of 2026 were $10.0 million, or 2.7 points of the combined ratio. This compared to catastrophe losses of $14.6 million, or 4.1 points, in the prior-year quarter.
Second quarter 2026 results included net favorable prior-year reserve development, excluding catastrophes, of $10.8 million, or 3.0 points, with widespread favorability. Net favorable prior-year reserve development, excluding catastrophes, was $12.5 million, or 3.5 points, in the second quarter of 2025.
Specialty current accident year combined ratio, excluding catastrophes, increased 2.7 points, to 88.6% in the second quarter of 2026, from 85.9% in the prior-year quarter. The current accident year loss and LAE ratio, excluding catastrophes, of 51.6% in the second quarter of 2026 was consistent with the company's long-term expectations for the segment and increased 2.6 points compared to the prior-year quarter, which saw lower-than-expected property losses.
Net premiums written were $384.4 million in the second quarter of 2026, up 4.4% from the prior-year quarter, an acceleration from the first quarter of 2026. Specialty renewal price increases averaged 3.6%, including average rate increases of 2.1%.
The following table summarizes premiums and the components of the combined ratio for Specialty:
|
Three months ended |
Six months ended |
|||||||||||||||
|
June 30 |
June 30 |
|||||||||||||||
|
($ in millions) |
2026 |
2025 |
2026 |
2025 |
||||||||||||
|
Net premiums written |
$ |
384.4 |
$ |
368.2 |
$ |
751.1 |
$ |
726.5 |
||||||||
|
Growth |
4.4 |
% |
4.6 |
% |
3.4 |
% |
5.0 |
% |
||||||||
|
Net premiums earned |
365.8 |
355.9 |
725.7 |
695.5 |
||||||||||||
|
Operating income before taxes |
68.4 |
71.2 |
152.4 |
135.8 |
||||||||||||
|
Loss and LAE ratio |
51.3 |
% |
49.6 |
% |
49.6 |
% |
50.1 |
% |
||||||||
|
Expense ratio |
37.0 |
% |
36.9 |
% |
36.7 |
% |
36.9 |
% |
||||||||
|
Combined ratio |
88.3 |
% |
86.5 |
% |
86.3 |
% |
87.0 |
% |
||||||||
|
Prior-year development ratio |
(3.0) |
% |
(3.5) |
% |
(3.4) |
% |
(4.1) |
% |
||||||||
|
Catastrophe ratio |
2.7 |
% |
4.1 |
% |
2.7 |
% |
4.2 |
% |
||||||||
|
Combined ratio, excluding catastrophes |
85.6 |
% |
82.4 |
% |
83.6 |
% |
82.8 |
% |
||||||||
|
Current accident year combined ratio, |
88.6 |
% |
85.9 |
% |
87.0 |
% |
86.9 |
% |
||||||||
4
Personal Lines
Personal Lines operating income before income taxes was $104.9 million in the second quarter of 2026, compared to $57.4 million in the second quarter of 2025. The Personal Lines combined ratio was 88.9%, compared to 95.5% in the prior-year quarter. Catastrophe losses in the second quarter of 2026 were $55.4 million, or 8.5 points of the combined ratio. This compared to catastrophe losses of $70.2 million, or 11.1 points of the combined ratio, in the prior-year quarter.
Second quarter 2026 results included net favorable prior-year reserve development, excluding catastrophes, of $10.1 million, or 1.5 points, compared to $2.6 million, or 0.4 points, in the second quarter of 2025.
Personal Lines current accident year combined ratio, excluding catastrophe losses, decreased 2.9 points, to 81.9%, in the second quarter of 2026, from 84.8% in the prior-year quarter. The current accident year loss and LAE ratio, excluding catastrophes, decreased 4.2 points from the prior-year quarter, to 55.6%, driven by the continued benefit of earned pricing outpacing loss trends and benign property claims frequency, as well as lower large loss experience in homeowners in the quarter.
The expense ratio increased by 1.3 points, to 26.3%, in the second quarter of 2026, compared to the prior-year quarter, primarily reflecting the timing of variable agency compensation expenses due to meaningfully better-than-expected results to date.
Net premiums written were $697.6 million in the second quarter of 2026, up 2.6% compared to the prior-year quarter. The increase was primarily due to higher new business, and to a lesser extent, the impact of renewal price increases. Personal Lines renewal price increases averaged 8.7%, including average rate increases of 4.8%. Policies in force (PIF) in the second quarter of 2026 were essentially flat compared to the first quarter of 2026.
The following table summarizes premiums and components of the combined ratio for Personal Lines:
|
Three months ended |
Six months ended |
|||||||||||||||
|
June 30 |
June 30 |
|||||||||||||||
|
($ in millions) |
2026 |
2025 |
2026 |
2025 |
||||||||||||
|
Net premiums written |
$ |
697.6 |
$ |
679.6 |
$ |
1,260.2 |
$ |
1,227.5 |
||||||||
|
Growth |
2.6 |
% |
3.7 |
% |
2.7 |
% |
3.4 |
% |
||||||||
|
Net premiums earned |
652.5 |
635.1 |
1,299.4 |
1,263.0 |
||||||||||||
|
Operating income before taxes |
104.9 |
57.4 |
194.1 |
151.6 |
||||||||||||
|
Loss and LAE ratio |
62.6 |
% |
70.5 |
% |
64.2 |
% |
67.5 |
% |
||||||||
|
Expense ratio |
26.3 |
% |
25.0 |
% |
26.0 |
% |
25.1 |
% |
||||||||
|
Combined ratio |
88.9 |
% |
95.5 |
% |
90.2 |
% |
92.6 |
% |
||||||||
|
Prior-year development ratio |
(1.5) |
% |
(0.4) |
% |
(1.5) |
% |
(0.4) |
% |
||||||||
|
Catastrophe ratio |
8.5 |
% |
11.1 |
% |
8.8 |
% |
8.3 |
% |
||||||||
|
Combined ratio, excluding catastrophes |
80.4 |
% |
84.4 |
% |
81.4 |
% |
84.3 |
% |
||||||||
|
Current accident year combined ratio, |
81.9 |
% |
84.8 |
% |
82.9 |
% |
84.7 |
% |
||||||||
5
Investments
Net investment income was $119.6 million in the second quarter of 2026, an increase of 13.4% from the prior-year quarter, primarily due to the continued investment of cashflows from operations and the impact of higher earned yields on the fixed maturity investment portfolio. Total pre-tax earned yield on the investment portfolio for the second quarter of 2026 was 4.28%, up from 4.11% in the prior-year quarter. The average pre-tax earned yield on fixed maturities was 4.45% for the second quarter of 2026, up from 4.24% in the prior-year quarter.
Net realized and unrealized investment gains recognized in earnings were $2.8 million in the second quarter of 2026. This compared to net realized and unrealized investment losses recognized in earnings of $2.5 million in the second quarter of 2025.
The company held $11.2 billion in cash and invested assets at June 30, 2026. Fixed maturities and cash represented approximately 93% of the investment portfolio. Approximately 95% of the company's fixed maturity portfolio is rated investment grade. As of June 30, 2026, net unrealized losses on the fixed maturity portfolio were $259.5 million before income taxes, compared to $235.6 million at March 31, 2026.
Shareholders' Equity and Capital Actions
At June 30, 2026, book value per share was $105.40, up 3.5% from March 31, 2026, driven by strong earnings, partially offset by share repurchases, the ordinary quarterly cash dividends, and an increase in the unrealized loss position on the fixed maturity portfolio. Book value per share, excluding net unrealized depreciation on fixed maturity investments, net of tax, was $111.26 at June 30, 2026, up 3.8% from March 31, 2026.
At June 30, 2026, operating insurance company's statutory capital and surplus was $3.54 billion, slightly higher compared to March 31, 2026.
The company repurchased approximately 291,000 shares of common stock in the second quarter of 2026, totaling approximately $55 million. Year-to-date through July 24th, the company has repurchased approximately 827,000 shares, totaling approximately $149 million. The company has approximately $660 million of remaining capacity under its new $700 million share repurchase authorization announced on May 13, 2026.
6
Earnings Conference Call
The company will host a conference call to discuss its second quarter results on Wednesday, July 29, at 10:00 a.m. E.T. A presentation will accompany the prepared remarks and has been posted on The Hanover's website. Interested investors and others can listen to the call and access the presentation through The Hanover's website, located in the "Investors" section at www.hanover.com. Investors may access the conference call by dialing 1-844-413-3975 in the U.S. and 1-412-317-5458 internationally. Webcast participants should go to the website 15 minutes early to register, download and install any necessary audio software. A re-broadcast of the conference call will be available on The Hanover's website approximately two hours after the call.
The Hanover Strategic Outlook and Financial Update
The company will hold a virtual strategic outlook and financial update on Thursday, September 17, at 10:00 a.m. ET, highlighting the next chapter of The Hanover, its strategic priorities, and updated long-term financial targets. The event will include a live question and answer session with members of the executive team. A live webcast of the event will be available through the "Investors" section of the company's website. A replay of the webcast will be available following the event.
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 company 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.
Contact Information
|
Investors: Oksana Lukasheva 1-508-525-6081 |
Media: Emily P. Trevallion 1-508-855-3263 |
Definition of Segments
Continuing operations include four reporting segments: Core Commercial, Specialty, Personal Lines and Other. The Core Commercial segment includes commercial multiple peril, commercial automobile, workers' compensation and other core commercial lines coverages provided to small and mid-sized businesses. The Specialty segment includes four divisions of business: marine and industrial property, professional and executive lines (such as management and professional liability), E&S and alternative markets, and surety and other. E&S and alternative markets includes coverages such as excess and surplus lines, program business (providing commercial insurance to markets with specialized coverage or risk management need related to groups of similar businesses), and specialty general liability coverage. The Personal Lines segment markets automobile, homeowners and ancillary coverages to individuals and families. The Other segment primarily includes the operations of the holding company, and our run-off direct asbestos and environmental business, run-off voluntary assumed property and casualty pools business, and run-off product liability business.
Financial Supplement
7
The Hanover's second quarter news release and financial supplement are available in the "Investors" section of the company's website at hanover.com.
|
The Hanover Insurance Group, Inc. |
||||||||||
|
Consolidated Statements of Income |
Three months ended |
Six months ended |
||||||||
|
June 30 |
June 30 |
|||||||||
|
($ in millions) |
2026 |
2025 |
2026 |
2025 |
||||||
|
Revenues |
||||||||||
|
Premiums earned |
$ |
1,597.6 |
$ |
1,545.3 |
$ |
3,168.2 |
$ |
3,053.8 |
||
|
Net investment income |
119.6 |
105.5 |
246.5 |
211.6 |
||||||
|
Net realized and unrealized investment gains (losses): |
||||||||||
|
Net realized losses from sales and other |
(5.4) |
(4.6) |
(10.3) |
(23.4) |
||||||
|
Net change in fair value of equity securities and other |
10.5 |
5.0 |
15.1 |
6.0 |
||||||
|
Impairments on investments: |
||||||||||
|
Credit-related impairments |
(1.4) |
(2.5) |
(3.0) |
(2.5) |
||||||
|
Losses on intent to sell securities |
(0.9) |
(0.4) |
(1.3) |
(0.4) |
||||||
|
Total impairments on investments |
(2.3) |
(2.9) |
(4.3) |
(2.9) |
||||||
|
Total net realized and unrealized investment gains (losses) |
2.8 |
(2.5) |
0.5 |
(20.3) |
||||||
|
Fees and other income |
6.2 |
6.1 |
12.4 |
12.5 |
||||||
|
Total revenues |
1,726.2 |
1,654.4 |
3,427.6 |
3,257.6 |
||||||
|
Losses and expenses |
||||||||||
|
Losses and loss adjustment expenses |
962.5 |
957.2 |
1,920.1 |
1,912.5 |
||||||
|
Amortization of deferred acquisition costs |
338.0 |
319.0 |
671.2 |
632.9 |
||||||
|
Interest expense |
10.1 |
8.6 |
20.9 |
17.1 |
||||||
|
Other operating expenses |
171.0 |
170.8 |
333.7 |
336.2 |
||||||
|
Total losses and expenses |
1,481.6 |
1,455.6 |
2,945.9 |
2,898.7 |
||||||
|
Income before income taxes |
244.6 |
198.8 |
481.7 |
358.9 |
||||||
|
Income tax expense |
53.2 |
41.9 |
103.5 |
73.8 |
||||||
|
Income from continuing operations |
191.4 |
156.9 |
378.2 |
285.1 |
||||||
|
Discontinued operations (net of taxes): |
||||||||||
|
Income from discontinued life businesses |
0.2 |
0.2 |
0.2 |
0.2 |
||||||
|
Net income |
$ |
191.6 |
$ |
157.1 |
$ |
378.4 |
$ |
285.3 |
||
|
The Hanover Insurance Group, Inc. |
|||||||
|
Condensed Consolidated Balance Sheets |
|||||||
|
June 30 |
December 31 |
||||||
|
($ in millions) |
2026 |
2025 |
|||||
|
Assets |
|||||||
|
Total investments |
$ |
10,902.0 |
$ |
10,382.7 |
|||
|
Cash and cash equivalents |
266.1 |
1,122.7 |
|||||
|
Premiums and accounts receivable, net |
1,950.1 |
1,861.3 |
|||||
|
Reinsurance recoverable on paid and unpaid losses and unearned premiums |
2,078.9 |
2,011.1 |
|||||
|
Other assets |
1,582.2 |
1,484.5 |
|||||
|
Assets of discontinued businesses |
84.6 |
83.6 |
|||||
|
Total assets |
$ |
16,863.9 |
$ |
16,945.9 |
|||
|
Liabilities |
|||||||
|
Loss and loss adjustment expense reserves |
$ |
8,001.7 |
$ |
7,755.2 |
|||
|
Unearned premiums |
3,479.6 |
3,440.4 |
|||||
|
Short-term debt |
50.1 |
375.0 |
|||||
|
Long-term debt |
793.9 |
843.3 |
|||||
|
Other liabilities |
761.3 |
851.9 |
|||||
|
Liabilities of discontinued businesses |
104.8 |
108.6 |
|||||
|
Total liabilities |
13,191.4 |
13,374.4 |
|||||
|
Total shareholders' equity |
3,672.5 |
3,571.5 |
|||||
|
Total liabilities and shareholders' equity |
$ |
16,863.9 |
$ |
16,945.9 |
The following is a reconciliation from operating income to income from continuing operations and net income(5)(8):
8
|
The Hanover Insurance Group, Inc. |
|||||||||||||||||||||||||
|
Three months ended June 30 |
Six months ended June 30 |
||||||||||||||||||||||||
|
2026 |
2025 |
2026 |
2025 |
||||||||||||||||||||||
|
($ in millions, except per share data) |
$ |
Per Share (Diluted) |
$ |
Per Share (Diluted) |
$ |
Per Share (Diluted) |
$ |
Per Share (Diluted) |
|||||||||||||||||
|
Operating income |
|||||||||||||||||||||||||
|
Core Commercial |
$ |
77.5 |
$ |
83.9 |
$ |
152.3 |
$ |
110.7 |
|||||||||||||||||
|
Specialty |
68.4 |
71.2 |
152.4 |
135.8 |
|||||||||||||||||||||
|
Personal Lines |
104.9 |
57.4 |
194.1 |
151.6 |
|||||||||||||||||||||
|
Other |
1.1 |
(2.6) |
3.3 |
(1.8) |
|||||||||||||||||||||
|
Total |
251.9 |
209.9 |
502.1 |
396.3 |
|||||||||||||||||||||
|
Interest expense |
(10.1) |
(8.6) |
(20.9) |
(17.1) |
|||||||||||||||||||||
|
Operating income before income taxes |
241.8 |
$ |
6.79 |
201.3 |
$ |
5.51 |
481.2 |
$ |
13.44 |
379.2 |
$ |
10.37 |
|||||||||||||
|
Income tax expense on operating income |
(52.6) |
(1.48) |
(42.6) |
(1.16) |
(103.5) |
(2.89) |
(78.7) |
(2.15) |
|||||||||||||||||
|
Operating income after income taxes |
189.2 |
5.31 |
158.7 |
4.35 |
377.7 |
10.55 |
300.5 |
8.22 |
|||||||||||||||||
|
Non-operating items: |
|||||||||||||||||||||||||
|
Net realized losses from sales and other |
(5.4) |
(0.15) |
(4.6) |
(0.12) |
(10.3) |
(0.29) |
(23.4) |
(0.63) |
|||||||||||||||||
|
Net change in fair value of equity securities and other |
10.5 |
0.30 |
5.0 |
0.13 |
15.1 |
0.43 |
6.0 |
0.16 |
|||||||||||||||||
|
Impairments on investments: |
|||||||||||||||||||||||||
|
Credit-related impairments |
(1.4) |
(0.04) |
(2.5) |
(0.07) |
(3.0) |
(0.08) |
(2.5) |
(0.07) |
|||||||||||||||||
|
Losses on intent to sell securities |
(0.9) |
(0.03) |
(0.4) |
(0.01) |
(1.3) |
(0.04) |
(0.4) |
(0.01) |
|||||||||||||||||
|
Total impairments on investments |
(2.3) |
(0.07) |
(2.9) |
(0.08) |
(4.3) |
(0.12) |
(2.9) |
(0.08) |
|||||||||||||||||
|
Income tax benefit (expense) on non-operating items |
(0.6) |
(0.02) |
0.7 |
0.02 |
- |
- |
4.9 |
0.13 |
|||||||||||||||||
|
Income from continuing operations, net of taxes |
191.4 |
5.37 |
156.9 |
4.30 |
378.2 |
10.57 |
285.1 |
7.80 |
|||||||||||||||||
|
Discontinued operations (net of taxes): |
|||||||||||||||||||||||||
|
Income from discontinued life businesses |
0.2 |
0.01 |
0.2 |
- |
0.2 |
0.01 |
0.2 |
- |
|||||||||||||||||
|
Net income |
$ |
191.6 |
$ |
5.38 |
$ |
157.1 |
$ |
4.30 |
$ |
378.4 |
$ |
10.58 |
$ |
285.3 |
$ |
7.80 |
|||||||||
|
Dilutive weighted average shares outstanding |
35.6 |
36.5 |
35.8 |
36.6 |
|||||||||||||||||||||
|
Basic weighted average shares outstanding |
35.0 |
35.9 |
35.1 |
35.9 |
|||||||||||||||||||||
The Hanover Insurance Group Inc. published this content on July 28, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on July 28, 2026 at 20:53 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]