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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.
Hanover
Hanover
Hanover Revenue by Segment
Revenue by Segment
Core Commercial Net Premiums Earned Revenue
CapyFin.comPersonal Lines Net Premiums Earned Revenue
CapyFin.com 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