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Sep 30, 2020
Hanover Q3 2020 Earnings Report
Reported strong financial results driven by effective risk management and robust distribution capabilities.
Key Takeaways
The Hanover Insurance Group reported a net income of $118.9 million, or $3.13 per diluted share, and an operating income of $93.5 million, or $2.46 per diluted share, for the third quarter of 2020. The company's combined ratio was 94.2%, and 88.4% excluding catastrophes. They also entered into a $100 million accelerated share repurchase agreement.
Net income of $118.9 million, or $3.13 per diluted share.
Operating income of $93.5 million, or $2.46 per diluted share.
Combined ratio of 94.2%, and 88.4% excluding catastrophes.
Entered into a $100 million accelerated share repurchase agreement.
Revenue by Segment
Forward Guidance
The company is confident in its ability to drive top-and bottom-line growth across its business.
Positive Outlook
- Strong balance sheet
- Robust business prospects
- Commitment to effectively manage capital
- Strength in company’s earnings power
- Ability to consistently generate excess capital
Challenges Ahead
- Industry headwinds
- Weather challenges
- Timing of certain expenses slightly elevated expense ratio
- Dynamic and competitive market in Personal Lines
- Lower new money yields
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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