Hanover Q3 2022 Earnings Report
Key Takeaways
The Hanover Insurance Group, Inc. reported net income of $0.2 million, or $0.01 per diluted share, in the third quarter of 2022. Operating income was $35.7 million, or $0.99 per diluted share, for the third quarter of 2022. Net premiums written increased of 9.5%.
Combined ratio of 101.0%; combined ratio, excluding catastrophes, of 94.2%
Catastrophe losses of $90.1 million, or 6.8 points of the combined ratio, including the impact from Hurricane Ian of $28.0 million
Net premiums written increase of 9.5%, with contributions from each segment
Renewal price change of 11.2% in Core Commercial, 12.4% in Specialty and 7.3% in Personal Lines, driven by homeowners renewal price change of 12.1%
Hanover
Hanover
Hanover Revenue by Segment
Forward Guidance
The company is focused on long-term target for operating ROE and responsible capital management for the benefit of its valued shareholders.