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The Hanover announces cat losses of $90m for Q3
20th October 2022
Property and casualty insurance company The Hanover Insurance Group has announced a preliminary estimate for third quarter catastrophe losses of approximately $90m, before taxes, or 6.8 points of net earned premiums. In a statement, the firm said that the estimate is approximately $22m above the company's pre-tax third quarter catastrophe assumption, ... Read the full article
The Hanover sees earnings slip amid personal lines headwinds
3rd August 2022
Property and casualty insurance company, The Hanover Insurance Group, has reported net income of just $22.6 million for the second quarter of 2022, compared with $128.5 million for the same period last year. At the same time, operating income decreased from $104.0 million to $83.9 million, with the company attributed the ... Read the full article
The Hanover launches Hanover i-on Sensor Program
29th July 2022
Property and casualty insurance company, The Hanover Insurance Group, has announced the launch of its Hanover i-on Sensor Program, aimed to help reduce business losses. According to the announcement, it will offer a robust set of technology-based services to help business and organisation owners prevent workplace injuries, property damage, theft, and ... Read the full article
Hamilton Select Insurance makes two underwriting appointments
20th July 2022
Bermuda-headquartered, Hamilton Insurance Group, Ltd., has announced two appointments for its newly launched US excess and surplus (E&S) insurer – Hamilton Select Insurance Inc. Ashly Turner will lead the firms US Energy Insurance, and Steve Blackwell will lead US Life Sciences Insurance. Throughout the last year, Hamilton has established and quickly grown ... Read the full article
Social inflation in casualty insurance one of the most concerning trends
20th June 2022
Social inflation has been named one of the most concerning trends by insurers speaking on the second day of S&P Global Ratings' 38th Annual Insurance Conference. In a panel discussion, Kristof Terryn, CEO of Zurich North America, said that ‘social inflation’ on the casualty side was the one trend worrying him ... Read the full article
The Hanover elects Francisco A. Aristeguieta to board
15th June 2022
The Hanover Insurance Group has elected Francisco A. Aristeguieta to its board of directors. Aristeguieta currently serves as a special adviser for State Street Corporation, having stepped down recently as executive vice president. Aristeguieta served in various executive positions since joining State Street in 2019, including chief executive officer of State ... Read the full article
The Hanover grows in Q1 as combined ratio improves to 93.4%
4th May 2022
The Hanover Insurance Group, Inc. recently announced a rise in net income to $104.8 million in the first-quarter of 2022, as a lesser impact from catastrophe events in the period helped strengthen its combined ratio to 93.4%. Group-wide, operating income also increased from $61.4 million in Q1 2021 to $117.7 million ... Read the full article
Donegal Insurance hires Hudnall as SVP of Commercial Lines
19th April 2022
The Donegal Insurance Group has announced the appointment of Matthew Hudnall as Senior Vice President (SVP) of the group's Commercial Lines business. In his new role as SVP of commercial lines, Hudnall will play a key role in developing and executing the strategy for Donegal’s Commercial Lines business, driving underwriting quality ... Read the full article
The Hanover publishes select historical financial information
29th March 2022
Property and casualty (P&C) insurance company The Hanover Insurance Group has published select historical quarterly and annual financial information reflecting the planned changes to the company's segment reporting. Beginning with first quarter 2022 reporting, the company will disaggregate the former Commercial Lines segment into Core Commercial and Specialty segments, including expenses, ... Read the full article
The Hanover improves FY income despite upswing in cat losses
3rd February 2022
Property and casualty (P&C) insurance company The Hanover Insurance Group, Inc. has reported improved net income for the full-year 2021 period, despite incurring significantly larger catastrophe losses than in the previous year. The company reported net income of $418.7 million for 2021, compared with $358.7 million in the previous year, as ... Read the full article
The Hanover Q3 income falls to $34m on heavy cat losses
28th October 2021
Property and casualty (P&C) insurance company The Hanover Insurance Group, Inc. has reported net income of $34.0 million for the third quarter of 2021, compared to $118.9 million for the same period last year. The considerable drop in performance can be mainly attributed to the $153.5 million of catastrophe losses that ... Read the full article
The Hanover Q3 cat losses could reach $165m, nearly half from Ida
22nd September 2021
Property and casualty (P&C) insurance company The Hanover Insurance Group, Inc. has released a preliminary estimate of its catastrophe losses for the third quarter of 2021, which it says will be in the range of $150 million to $165 million, before tax. Estimated losses from Hurricane Ida alone are approximately $75 ... Read the full article
The Hanover reports higher Q2 net income of $128.5mn
28th July 2021
The Hanover Insurance Group has reported a net income of $128.5 million for Q2 2021, compared to $115.2 million for the prior year period. Its operating income came in at $104 million, compared to $62.7 million last year. The insurer claims that the difference between its net and operating income was primarily ... Read the full article
The Hanover posts strong Q1 result despite unprecedented cat activity
30th April 2021
The Hanover Insurance Group, Inc. has announced net income of $92.7 million for Q1 2021 against a net loss of $40 million for the prior year quarter, despite its catastrophe ratio increasing from 3.3% to 11.5% for the period. Despite the net income turnaround in the quarter, The Hanover's operating income ... Read the full article
Willard Lee named CIO at The Hanover
28th April 2021
Property and casualty (P&C) insurance company The Hanover Insurance Group, Inc. has announced the appointment of Willard T. Lee as Executive Vice President, Chief Information and Innovation Officer, effective immediately. In this role, Lee will be responsible for advancing the company's information technology roadmap and delivering technology solutions that support its ... Read the full article
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