Hanover Q2 2020 Earnings Report
Key Takeaways
The Hanover Insurance Group reported a net income of $115.2 million, or $3.01 per diluted share, for the second quarter of 2020, compared to a net income of $74.0 million, or $1.79 per diluted share, in the prior-year quarter. Operating income was $62.7 million, or $1.63 per diluted share, compared to $77.7 million, or $1.88 per diluted share, in the prior-year quarter. The combined ratio was 96.2%, and the combined ratio excluding catastrophes was 82.7%.
Net income was $115.2 million, or $3.01 per diluted share, compared to $74.0 million, or $1.79 per diluted share, in the prior-year quarter.
Operating income was $62.7 million, or $1.63 per diluted share, compared to $77.7 million, or $1.88 per diluted share, in the prior-year quarter.
The combined ratio was 96.2%, and the combined ratio excluding catastrophes was 82.7%.
Book value per share increased 12.6% to $81.10.
Hanover
Hanover
Hanover Revenue by Segment
Forward Guidance
The company updated full-year 2020 outlook, including an improved combined ratio, excluding catastrophes, between 89.5% and 90.5%, compared to the prior outlook of 91% to 92%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income