Reinsurance News

The Hanover Insurance

The Hanover Insurance adds Theodore Bunting to board

3rd September 2020

The Hanover Insurance Group, Inc. has strengthened its board of directors with the addition of Theodore H. Bunting, Jr., effective September 1st, 2020. Most recently, Bunting served as Group President of the Utility operations at Entergy Corporation, an integrated energy firm engaged in electric power production and retail distribution, from 2012 ... Read the full article

The Hanover posts robust Q2 results as full year CR outlook improves

29th July 2020

Massachusetts-based property and casualty insurer The Hanover has reported a net income of $115.2 million in the second quarter, up from from $74 million in the prior year quarter. The company has also updated its full-year 2020 outlook, including an improved combined ratio, excluding catastrophes, of between 89.5% and 90.5%, compared to ... Read the full article

The Hanover appoints Dennis Kerrigan as exec VP, general counsel

6th April 2020

Massachusetts-based property and casualty insurer The Hanover Insurance Group has appointed Dennis Kerrigan as executive vice president and general counsel. Kerrigan’s appointment will see him oversee The Hanover's legal, regulatory and government affairs, as well as compliance, state filings, securities, and corporate governance matters. He brings decades of corporate counsel, insurance and ... Read the full article

The Hanover announces $250mn buyback & dividend, using Chaucer proceeds

6th December 2019

The Hanover Insurance Group has entered into an accelerated share repurchase (ASR) to buy back $150 million of its common stock, in addition to declaring a $100 million special dividend. The announcement completes the deployment of the $850 million of capital that the company generated through the sale of Chaucer, ... Read the full article

Divestiture of Chaucer makes The Hanover a desirable M&A target: JMP

29th August 2019

Analysts have said that following the successful takeover of its Chaucer business by China Re, domestic-focused insurer The Hanover Insurance Group is a desirable merger and acquisition (M&A) target longer term. Now that the Chaucer divestiture is complete, the core of the domestic franchise of The Hanover is a small/middle market ... Read the full article

The Hanover’s outlook revised to stable on improved underwriting by S&P

20th August 2019

S&P Global Ratings has revised its outlook for The Hanover Insurance Group Inc. (THG) from negative to stable, citing a sustainable underwriting improvement in the company’s U.S commercial business. The rating agency also affirmed its ‘A’ issuer credit and financial strength ratings for THG and its core operating subsidiaries. S&P believes that ... Read the full article

The Hanover enhances growth focus with expanded specialty leadership team

1st March 2019

The Hanover Insurance Group has announced the expansion of its specialty leadership team in an effort to enhance its focus on growth opportunities while at the same time drive greater value with the firm's independent insurance agent partners. The expansion includes a number of appointments, notably the naming of Steven Mills ... Read the full article

The Hanover appoints Zurich VP Frank Baron as President of Alternative Markets

4th June 2018

Massachusetts-based property and casualty (P/C) insurer The Hanover insurance Group (THG) has appointed Frank M. Baron as the President of its newly formed Alternative Markets unit. A veteran of 30 years, Baron joins from Zurich where he served as Executive Vice President (VP) for over 5 years. Prior to that he ... Read the full article

The Hanover Insurance strengthens surety leadership team

31st May 2018

In a move that sees The Hanover Insurance Group (THG) expand capabilities for the growth and management of its transactional surety business, Carrick Bligh has been promoted to Vice President of Commercial Surety, effective May 1st, 2018. Bligh joined the firm six years ago, and brings 14 years’ industry experience to ... Read the full article

Chairman of The Hanover Insurance Michael Angelini announces retirement

17th May 2018

After more than 30 years of service to The Hanover Insurance Group’s (THG) board of directors longtime Chairman Michael P. Angelini has announced his retirement, effective May 16th, 2018. The governance guidelines of THG prohibit the continuation of directors beyond the age of 75. Having joined Hanover’s board in 1995 Angelini ... 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

The Hanover explores alternatives for Chaucer business, including possible sale

29th March 2018

The Hanover Insurance Group, Inc. said today that it is exploring "strategic alternatives" for its London-based Chaucer business is underway, which could include a possible sale. A "review of strategic alternatives" is currently being undertaken by the firm, as it looks at its options for the Chaucer international specialty underwriting business ... Read the full article

Hanover & Chaucer Q3 losses reach $185m to $225m

6th October 2017

The Hanover Insurance has revealed third quarter catastrophe losses - including anticipated losses from hurricanes Harvey, Irma, Maria and the two Mexico earthquakes ranging from $185 million to $225 million before taxes and net of reinsurance. The firm's international specialty group, Chaucer, has retained losses from $115 to $135 million before ... Read the full article

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