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The Hanover Insurance Group, Inc. - THG STOCK NEWS

Welcome to our dedicated page for The Hanover Insurance Group news (Ticker: THG), a resource for investors and traders seeking the latest updates and insights on The Hanover Insurance Group stock.

The Hanover Insurance Group, Inc. (NYSE: THG) is a leading provider of property and casualty insurance products and services in the United States. Through a network of independent agents and brokers, the company offers a broad range of insurance solutions tailored for small and mid-sized businesses, as well as personal lines for homes, automobiles, and other personal items. Internationally, Hanover operates through its wholly-owned subsidiary, Chaucer Holdings Limited, based in the United Kingdom.

The Hanover's business operations are divided into three major segments: Commercial Lines, Personal Lines, and Specialty. The Commercial Lines segment includes coverages like commercial multiple peril, commercial automobile, and workers' compensation. The Personal Lines segment focuses on providing insurance for personal automobiles, homeowners, and ancillary coverages. The Specialty segment includes professional and executive lines, marine, and surety and other specialty property and casualty coverages.

Recently, The Hanover has faced significant challenges due to severe weather events, particularly hailstorms, which have impacted its Personal Lines segment heavily. In response, the company has implemented several strategic initiatives to mitigate these risks, including strengthening policy terms, increasing deductibles, and emphasizing risk prevention measures.

Despite these challenges, The Hanover remains committed to its long-term strategic goals. The company has been successful in its pricing strategies, achieving substantial renewal price increases across various lines of business. This has been complemented by strong performance in its Specialty and Core Commercial segments.

Financially, The Hanover maintains a robust investment portfolio, primarily composed of fixed-income securities, providing a steady stream of income. The company reported a significant improvement in its third-quarter combined ratio, excluding catastrophes, underscoring the effectiveness of its margin recapture plan.

The Hanover is also dedicated to professional growth and offers a collaborative environment with comprehensive benefits, aiming to attract top talent at all levels. The company's forward-looking strategies, coupled with its strong market position and innovative capabilities, position it well for sustainable long-term growth.

News

The Hanover Insurance Group, Inc. to Present at the Bank of America Securities 2024 Financial Services Conference

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The Hanover Insurance Group, Inc. (THG) announced that its president and CEO, John C. Roche, and EVP and CFO, Jeffrey M. Farber, will participate in a fireside chat at the Bank of America Securities 2024 Financial Services Conference on February 21, 2024. The event will be broadcast live on the company's website, with a replay available afterward.
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The Hanover Reports Fourth Quarter Net Income and Operating Income of $2.98 and $3.13 per Diluted Share, Respectively; Net and Operating Return on Equity of 18.8% and 15.7%, Respectively

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The Hanover Insurance Group, Inc. (THG) reported a strong fourth quarter with a combined ratio of 94.2%, excluding catastrophes, and a net income of $107.9 million. Catastrophe losses of $57.7 million affected the combined ratio by 4.0 points. Renewal price increases were seen across all business segments, with net premiums written increasing by 1.5%. The company also reported a 20.6% renewal price increase in Personal Lines, 12.4% in Core Commercial, and 11.6% in Specialty. Net investment income increased by 7.5% from the prior-year quarter, and the Board of Directors approved a 5% increase to the regular quarterly dividend. For the full year, the combined ratio was 103.5%, excluding catastrophes, with catastrophe losses of $690.1 million. Net premiums written increased by 6.1% from the prior year. The company reported a net income of $35.3 million for the full year. The operating return on equity was 15.7%, and the company expressed confidence in its profitability and growth trajectory for 2024.
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The Hanover Appoints Mina S. Rona President of Technology and Life Sciences

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The Hanover Insurance Group, Inc. (NYSE: THG) has appointed Mina S. Rona as the president of technology and life sciences. Rona, a 26-year veteran of the insurance industry, will lead the organization and work with industry professionals to develop innovative insurance solutions for businesses in these sectors. Her promotion is a testament to her exceptional leadership skills and deep expertise in the technology and life sciences industries. The company is confident that under her leadership, their team will achieve even greater success in delivering impactful solutions for their agents and customers.
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The Hanover Insurance Group, Inc. to Issue Fourth Quarter Financial Results on January 31

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The Hanover Insurance Group, Inc. (NYSE: THG) will release its Q4 and full-year financial results on January 31, 2024, followed by a webcast discussion on February 1. The webcast will be available on hanover.com.
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The Hanover Recognized By Newsweek as Most Responsible Company; Earns Top Score in Human Rights Campaign Foundation's Corporate Equality Index

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The Hanover Insurance Group, Inc. (NYSE: THG) has been recognized as one of America's Most Responsible Companies by Newsweek for the third consecutive year and received a score of 100 on the Corporate Equality Index by the Human Rights Campaign Foundation for the sixth consecutive year. The recognition is based on strong commitment to corporate citizenship through environmental, social, and corporate governance practices and performance, backed by quantitative data from key performance indicators and independent surveys.
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The Hanover Insurance Group, Inc. Increases Quarterly Dividend to $0.85 Per Common Share

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The Hanover Insurance Group, Inc. (NYSE: THG) has announced a 5% increase in its quarterly dividend to $0.85 per share on the issued and outstanding common stock, payable on December 29, 2023, to shareholders of record at the close of business on December 15, 2023. This marks the company's 19th consecutive annual dividend increase, reflecting the board's confidence in the company's financial strength and prospects for the future.
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The Hanover Appoints Stephen P. Marohn President, Specialty Property and Casualty

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Hanover Insurance Group, Inc. (NYSE: THG) appoints Stephen P. Marohn as president of specialty property and casualty. Marohn brings over 30 years of industry experience, having previously worked at CNA Insurance and AIG. His responsibilities will include leading the company's excess and surplus (E&S) business, specialty industrial business, Hanover Programs, specialty general liability, and Hanover Specialty Insurance Brokers (HSIB). Marohn's leadership is expected to drive sustainable profitable growth across the specialty segment.
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The Hanover Reports Third Quarter Results

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The Hanover Insurance Group, Inc. reported net income of $8.6 million in Q3 2023, compared to $0.5 million in Q3 2022. The combined ratio was 104.4%, with catastrophe losses of $195.8 million. Net premiums written increased by 6.0%. Renewal price increases were 18.0% in Personal Lines. Net investment income was $84.2 million. Book value per share was $59.21, down 5.4% from June 30, 2023.
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The Hanover's 2023 Report Finds Businesses Lack Protection and Recovery Plans Against Cyber Attacks

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The Hanover Insurance Group released its 2023 Cyber Resiliency Report, revealing a lack of preparedness by small and mid-sized businesses for cyberattacks.
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The Hanover Estimates Third Quarter Catastrophe Losses and Preliminary Results

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The Hanover Insurance Group announces preliminary estimate for Q3 2023 catastrophe losses of $195.8 million.
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FAQ

What is the current stock price of The Hanover Insurance Group (THG)?

The current stock price of The Hanover Insurance Group (THG) is $164.39 as of November 18, 2024.

What is the market cap of The Hanover Insurance Group (THG)?

The market cap of The Hanover Insurance Group (THG) is approximately 5.9B.

What does The Hanover Insurance Group, Inc. do?

The Hanover Insurance Group, Inc. provides property and casualty insurance products and services through a network of independent agents and brokers in the U.S., and also operates internationally via Chaucer Holdings Limited.

What are the main segments of Hanover's business?

Hanover's business is divided into three main segments: Commercial Lines, Personal Lines, and Specialty. These cover a range of insurance products for businesses and individuals.

How does Hanover distribute its insurance products?

Hanover markets its insurance products through a select group of independent agents and brokers across the United States.

What recent challenges has The Hanover faced?

The Hanover has recently faced significant challenges due to severe weather events, particularly hailstorms, which have heavily impacted its Personal Lines segment.

What strategies has Hanover implemented to mitigate risks?

The Hanover has implemented strategic initiatives such as strengthening policy terms, increasing deductibles, and emphasizing risk prevention measures to mitigate risks.

How has The Hanover performed financially recently?

The Hanover reported a significant improvement in its third-quarter combined ratio, excluding catastrophes, highlighting the effectiveness of its margin recapture plan and strong performance in its Specialty and Core Commercial segments.

What type of investment portfolio does The Hanover maintain?

The Hanover maintains a robust investment portfolio primarily composed of fixed-income securities, which provides a steady stream of income.

What is The Hanover's approach to talent acquisition and professional growth?

The Hanover offers a collaborative environment with comprehensive benefits, aiming to attract top talent at all levels and promote professional growth.

What are Hanover's long-term goals?

Despite recent challenges, The Hanover is committed to its long-term strategic goals, including achieving substantial renewal price increases and maintaining strong performance across its business segments.

Where can I find more information about The Hanover Insurance Group, Inc.?

For more information, please visit their website at hanover.com.

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The Hanover Insurance Group, Inc.

NYSE:THG

THG Rankings

#1174 Ranked by Market Cap
#1351 Ranked by Dividends

THG Stock Data

5.92B
35.74M
0.78%
88.41%
0.69%
Insurance - Property & Casualty
Fire, Marine & Casualty Insurance
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United States of America
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