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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
Arch’s reinsurance segment takes bulk of $180m-$190m Q1 cat bill
16th April 2021
Bermuda-based insurer and reinsurer, Arch Capital Group Ltd., has announced a pre-tax catastrophe loss range of between $180 million to $190 million for the first-quarter of 2021, of which roughly 80% falls to its reinsurance segment. The up to $190 million loss range is almost entirely from natural catastrophe events that ... Read the full article
The Hanover announces Q1 catastrophe losses of $133m
16th April 2021
The Hanover Insurance Group, Inc. expects to incur catastrophe losses of approximately $133 million, pre-tax ($105m after-tax), for the first-quarter of 2021, primarily as a result of the impacts of Winter storms Uri and Viola. For the carrier, the largest impact from the severe weather was in Texas, where it estimates ... Read the full article
The Hanover adds to board of directors
8th March 2021
The Hanover Insurance Group has strengthened its board of directors with the addition of J. Paul Condrin last month. Condrin has served in various executive leadership roles at Liberty Mutual for just under 30 years, where he most recently served as executive vice president and president of commercial insurance, from 2012 ... Read the full article
The Hanover reports higher net income, improved combined ratio in Q4
4th February 2021
The Hanover Insurance Group, Inc. has reported a rise in net income for the fourth-quarter of 2020 to $164.6 million, while operating income also improved in the period, year-on-year, to $112 million. The difference in Q4 net and operating income, which grew by $54.8 million and $31.8 million, respectively, was primarily ... Read the full article
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