Hanover Q1 2022 Earnings Report
Key Takeaways
The Hanover Insurance Group reported a strong first quarter with net income of $104.8 million, or $2.90 per diluted share, and operating income of $117.7 million, or $3.26 per diluted share. The company's operating return on equity was 15.7%, and net premiums written increased by 9.7% across all segments. The ex-CAT combined ratio was 89.8%, marking the eighth consecutive quarter below 90%.
Operating income increased 91.6% from the prior-year quarter.
Combined ratio of 93.4%; combined ratio, excluding catastrophes of 89.8%.
Net premiums written increased by 9.7%, with strong growth from each segment.
Renewal price change up 9.7% in Core Commercial, 12.6% in Specialty and 4.3% in Personal Lines.
Hanover
Hanover
Hanover Revenue by Segment
Forward Guidance
The company remains on track with its long-term targets for underwriting returns and operating ROE, which will likely be augmented by stronger net investment income.