Reinsurance News
The Hanover Insurance
The Hanover launches new offering for complex industrial property risks
4th November 2025
The Hanover Insurance Group has launched Hanover Specialty Industrial Property (HSIP) Advantage, a new admitted property product. This offering, the insurer stated, has been designed to modernise insurance coverage for small to mid-sized businesses that manufacture, blend, distribute, warehouse or transport high-hazard products and materials. HSIP Advantage will be available for new ... Read the full article
The Hanover’s net income rises 75% as CoR strengthens in Q3’25
30th October 2025
Property and casualty insurer, The Hanover Insurance Group, saw its net income rise 75% year-on-year to $178.7 million in the third quarter of 2025, as the firm's combined ratio strengthened by 4.4 percentage points to 91.1% on the back of a lower loss and loss adjustment expense (LAE) ratio of ... Read the full article
The Hanover’s Q1’25 net income and CoR see improvement amid significant cat activity
1st May 2025
The Hanover Insurance Group has announced its financial results for the first quarter of 2025, reporting a net income of $128.2 million, catastrophe losses of $95.6 million, and a combined ratio of 94.1%. This year’s Q1 net income compares to the $115.5 million reported in the same period last year, which ... Read the full article
The Hanover names Richard W. Lavey as COO
4th April 2025
Massachusetts-based insurer The Hanover Insurance Group, Inc. has appointed Richard W. Lavey to the newly created role of Chief Operating Officer (COO). In the newly expanded role, Lavey will further develop the inusrer's business strategy to drive integration and collaboration between the business and technology organisations. Additionally, he will enhance agent ... Read the full article
The Hanover reports $1.5bn in NPW for Q4’24 as CoR improves to 89.2%
5th February 2025
The Hanover Insurance Group has reported an increase in net premiums written (NPW) for the fourth quarter of 2024 to $1.45 billion or 7.4%, as well as an improved combined ratio of 89.2% from 94.2% in Q4 2023. The improvement in the combined ratio was driven by a lower catastrophe ratio ... Read the full article
The Hanover’s CoR improves to 95.5% in Q3’24, net income climbs to $102.1m
31st October 2024
The Hanover Insurance Group has released its financial results for the third quarter of 2024, which includes its combined ratio improving 8.9 points to 95.5%, driven in part by lower catastrophe losses, while net income increased to $102.1 million. At the same time, operating income was $111.3 million for the ... Read the full article
Pricing ‘significantly better’ than expectations at mid-year reinsurance renewal: The Hanover CFO
5th August 2024
Executive Vice President and Chief Financial Officer (CFO) of The Hanover Insurance Group, Jeffrey Farber, has revealed that pricing was "significantly better" than expected at the firm's July reinsurance renewal. During The Hanover's Q2 2024 earnings call, Farber highlighted that the strong pricing was primarily driven by the company’s work in ... Read the full article
The Hanover Insurance returns to profit in Q2’24 with net income of $40.5m
1st August 2024
The Hanover Insurance Group, Inc. has reported net income of $40.5 million for Q2 2024, compared to a net loss of $69.2 million in the prior-year quarter, as the company's combined ratio came down from 111.3% to 99.2% amid lower year-on-year catastrophe losses. For the second quarter of 2024, catastrophe losses ... Read the full article
The Hanover expects $157.1m of catastrophe losses for Q2’24
19th July 2024
Property and casualty insurance holding company, The Hanover Insurance Group, Inc., has preliminary estimated pre-tax catastrophe losses of $157.1 million, or 10.7 points of net earned premium for the second quarter of 2024. The insurer has stated that the losses were primarily driven by severe convective storm activity and mostly impacted ... Read the full article
Insurance industry adapts to new challenges, experts reveal at S&P conference
14th June 2024
At S&P Global Ratings' 40th Annual North American Insurance Conference, industry experts discussed current trends and challenges, agreeing that while the insurance landscape has evolved over the past four decades, the industry has successfully adapted. Elizabeth Heck, Chairman, President, and CEO of Greater NY Mutual, emphasised that the adaptability comes from ... 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 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 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
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