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The Hanover Insurance Group announces key appointments to strengthen specialty business
8th September 2023
The Hanover Insurance Group, Inc. has announced key leadership changes to strengthen its specialty property and casualty programs division, with Stephanie E. Seibold appointed as President of Alternative Markets and Arthur J. Barrett taking on the role of President of Programs. Seibold, who has been with The Hanover since 2007, brings ... Read the full article
The Hanover Insurance Group estimates Q1 cat losses of up to $76mn
17th April 2018
The Hanover Insurance Group has announced that the estimated impact of catastrophe activity on its first quarter 2018 results is in the range of US $66 to $76 million before taxes. The Hanover announced the results in line with their recently implemented policy of releasing quarterly catastrophe loss estimates if they ... Read the full article
K2 Financial launches Aegis Financial Lines with former Hanover Insurance Group Leader
9th January 2024
Aegis Financial Lines (AFL), a division of Aegis General Insurance Agency, in partnership with its sister company, K2 Financial, has achieved approval of their official coverholder status with Lloyd’s, the global insurance and reinsurance marketplace. AFL is an expansion of K2 Financial’s operation in London. Moreover, Kevin Leach, the founder & Senior ... Read the full article
Hanover Insurance Group elects Elizabeth A. Ward to its board
21st July 2022
The Hanover Insurance Group has announced Elizabeth A. Ward has been elected to the company's board of directors, and has been appointed to serve on the board's audit committee. Ward, 57, has served as Chief Financial Officer of Massachusetts Mutual Life Insurance Company, a mutual life insurance company, since June 2016. Read the full article
The Hanover’s Q4 net income soars to $107m as its combined ratio settles at 94%
1st February 2024
The Hanover has reported net income of $107.9 million for Q4 of 2023, marking a drastic improvement compared to the net loss of $12.1 million recorded in the same quarter of 2022. Operating income in Q4 of 2023 also grew to $113.1 million, up from an operating loss of $37.4 million, ... Read the full article
The Hanover promotes Mina S. Rona to president of technology and life sciences
5th January 2024
The Hanover Insurance Group, Inc. has appointed Mina S. Rona as president of technology and life sciences. Rona joined The Hanover eight years ago and has since played "a key role" in the expansion of the firm's technology and life sciences capabilities. The Hanover explained that Rona will now assume responsibility for ... Read the full article
The Hanover names Marohn President of Specialty P&C
21st November 2023
The Hanover Insurance Group has appointed veteran Stephen P. Marohn as President of Specialty Property and Casualty. Marohn brings to his new role more than 30 years of wide-ranging industry experience, along with an accomplished background in commercial and specialty property and casualty insurance. He will be responsible for leading the company's ... Read the full article
The Hanover posts $8.6m net income for Q3
2nd November 2023
The Hanover Insurance Group has posted a net income of $8.6 million for the third quarter of 2023, compared to net income of $0.5 million in the prior-year quarter. Operating income sat $6.8 million in Q3, compared to operating income of $35.7 million from Q322. At the same time, The Hanover posted ... Read the full article
The Hanover reports estimated cat losses of $196m for Q3 2023
19th October 2023
The Hanover Insurance Group, Inc. has preliminary estimated catastrophe losses of $195.8 million, before taxes, for the third quarter of 2023, which translates to 13.7 points of net earned premium. Multiple convective storms across the Midwestern United States along with hail and wind damage have been attributed to the majority of ... Read the full article
The Hanover appoints Charles Hamann as President of small commercial
22nd August 2023
The Hanover Insurance Group, Inc. has announced the appointment of Charles Hamann as the President of small commercial. He replaces Michael Keane, who has taken on a new role to focus on the company's long-term strategy. Hamann is a market veteran with 35 years of industry experience. In his new role, his ... Read the full article
The Hanover posts $69.2m net loss for Q2, despite solid performance from Specialty segment
3rd August 2023
The Hanover Insurance Group has recorded a net loss of $69.2 million in the second quarter of 2023, compared to net income of $22.7 million in the prior-year quarter. Operating loss for the quarter was $68.3 million, compared to operating income of $83.9 million in the previous year's quarter. At the same time, The ... Read the full article
The Hanover expects Q2 loss amid catastrophe losses of $262 million
21st July 2023
The Hanover Insurance Group, Inc. has announced a preliminary estimate for Q2 catastrophe losses of approximately $262 million, before taxes, with the firm expecting to report a Q2 2023 combined ratio of 111.3%. These losses were driven primarily by the 19 convective storms across multiple states, with hail damage representing the ... Read the full article
The Hanover posts Q1 loss as cat loss results in weaker combined ratio
3rd May 2023
The Hanover Insurance Group, Inc. reported a net loss of $12.0 million in the first quarter of 2023, compared to net income of $104.9 million, as its pre-announced $175.0 million in catastrophe losses resulted in a combined ratio of 104.4 percent. Group-wide, operating income also decreased from $117.7 million in Q1 ... Read the full article
The Hanover Insurance approximates $175m in cat losses for Q1
20th April 2023
The Hanover Insurance Group has announced its preliminary estimate for first-quarter 2023 catastrophe losses of approximately $175 million, before taxes or 12.7 points of net earned premium. Widespread wind and tornadic activity impacted nearly half of the U.S. in mid-to-late March. The first quarter catastrophe losses were caused by over 20 ... Read the full article
The Hanover sees $11.6m net loss in Q4 results
2nd February 2023
The Hanover has reported a net loss of $11.6 million for the fourth quarter of 2022, compared to a net income of $163.5 million from the same period last year. Operating loss for the quarter was $37.4 million, compared to an operating income of $122.1 million in the prior year quarter. At ... Read the full article