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Hanover Insurance Group Inc   (THG)
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Price: $126.3100 $-2.76 -2.138%
Day's High: $129.56 Week Perf: -3.22 %
Day's Low: $ 129.36 30 Day Perf: -7.52 %
Volume (M): 2 52 Wk High: $ 138.00
Volume (M$): $ 301 52 Wk Avg: $119.16
Open: $128.14 52 Wk Low: $103.83



 Market Capitalization (Millions $) 4,560
 Shares Outstanding (Millions) 36
 Employees 4,800
 Revenues (TTM) (Millions $) 5,943
 Net Income (TTM) (Millions $) -84
 Cash Flow (TTM) (Millions $) 130
 Capital Exp. (TTM) (Millions $) 14

Hanover Insurance Group Inc

The Hanover Insurance Group, Inc. (“THG”) is a holding company organized as a Delaware corporation in 1995. We trace our roots to as early as 1852, when the Hanover Fire Insurance Company was founded. Our primary business operations are property and casualty insurance products and services. We market our domestic products and services through independent agents and brokers in the United States (“U.S.”) and conduct business internationally through a wholly-owned subsidiary, Chaucer Holdings Limited (“Chaucer”), which operates through the Society and Corporation of Lloyd’s (“Lloyd’s”) and is domiciled in the United Kingdom (“U.K.”). Our consolidated financial statements include the accounts of THG; The Hanover Insurance Company (“Hanover Insurance”) and Citizens Insurance Company of America (“Citizens”), which are our principal U.S. domiciled property and casualty subsidiaries; Chaucer; and certain other insurance and non-insurance subsidiaries. Our results of operations also include the results of our discontinued operations, consisting primarily of our former life insurance and accident and health businesses.

We conduct our business operations through four operating segments. These segments are Commercial Lines, Personal Lines, Chaucer and Other. We report interest expense related to our corporate debt separately from the earnings of our operating segments.

In our Commercial Lines and Personal Lines segments, we underwrite commercial and personal property and casualty insurance through Hanover Insurance, Citizens and other THG subsidiaries, through an independent agent and broker network concentrated in the Northeast, Midwest and Southeast U.S. We also continue to actively grow our Commercial Lines’ presence in the Western region of the U.S., particularly in California, which now is our third largest state for Commercial Lines as measured by net premiums written. Our Chaucer segment is a specialist insurance underwriting group which operates through Lloyd’s and writes business globally. Included in our Other segment are Opus Investment Management, Inc. (“Opus”), a wholly-owned subsidiary of THG, which provides investment management services to our insurance and non-insurance companies, as well as to unaffiliated institutions, pension funds and other organizations; earnings on holding company assets; and a discontinued voluntary pools business.


Our business strategy focuses on providing our agents and customers stability, financial strength, and competitive insurance products while prudently growing and diversifying our product and geographical business mix. We conduct our U.S. business with an emphasis on agency relationships and active agency management, disciplined underwriting, pricing, quality claim handling, and customer service. Our Lloyd’s business is focused on disciplined and specialized underwriting in selected markets.

The industry’s profitability and cash flow can be, and historically has been, significantly affected by numerous factors, including price; competition; volatile and unpredictable developments such as extreme weather conditions, catastrophes and other disasters; legal and regulatory developments affecting pricing, underwriting, policy coverage and other aspects of doing business, as well as insurer and insureds’ liability; extra-contractual liability; size of jury awards; acts of terrorism; fluctuations in interest and currency rates or the value of investments; and other general economic conditions and trends, such as inflationary pressure or unemployment, that may affect the adequacy of reserves or the demand for insurance products. Our investment portfolio and its future returns may be further impacted by the capital markets and current economic conditions, which could affect our liquidity, the amount of realized losses and impairments that will be recognized, credit default levels, our ability to hold such investments until recovery and other factors. Additionally, the economic conditions in geographic locations where we conduct business, especially those locations where our business is concentrated, may affect the growth and profitability of our business. The regulatory environments in those locations, including any pricing, underwriting or product controls, shared market mechanisms or mandatory pooling arrangements, and other conditions, such as our agency relationships, affect the growth and profitability of our business. Our loss and loss adjustment expense (“LAE”) reserves are based on estimates, principally involving case assessments and actuarial projections, at a given time, of what we expect the ultimate settlement and administration of claims will cost based on facts and circumstances then known, predictions of future events, estimates of future trends in claims frequency and severity and judicial theories of liability, costs of repairs and replacement, legislative activity and other factors. We regularly reassess our estimate of loss reserves and LAE, both for current and past years, and resulting changes have and will affect our reported profitability and financial position.

Claims management includes the receipt of initial loss notifications, generation of appropriate responses to claim reports, loss appraisals, identification and handling of coverage issues, determination of whether further investigation is required, retention of legal representation where appropriate, establishment of case reserves, approval of loss payments and notification to reinsurers. Part of our strategy focuses on efficient, timely, and fair claim settlements to meet customer service expectations and maintain valuable independent agent relationships. Additionally, effective claims management is important to our business as claim payments and related loss adjustment expenses are our single largest expenditures.

Commercial and Personal Lines
We utilize experienced claims adjusters, appraisers, medical specialists, managers and attorneys to manage our claims. Our U.S. property and casualty operations have field claims adjusters located throughout the states and regions in which we do business. Claims field staff members work closely with the independent agents who bound the policies under which coverage is claimed. Claims office adjusting staff is supported by general adjusters for large property and large casualty losses, by automobile and heavy equipment damage appraisers for automobile material damage losses, and by medical specialists whose principal concentration is on workers’ compensation and automobile injury cases. Additionally, the claims offices are supported by staff attorneys, both in the home office and in regional locations, who specialize in litigation defense and claim settlements. We have a catastrophe response team to assist policyholders impacted by severe weather events. This team mobilizes quickly to impacted regions, often in advance for a large tracked storm, to support our local claims adjusters and facilitate a timely response to resulting claims. We also maintain a special unit that investigates suspected insurance fraud and abuse. We utilize claims processing technology which allows most of the smaller and more routine Personal Lines claims to be processed at centralized locations.

Chaucer
The Chaucer claims team is responsible for establishing case reserves, loss and LAE cost management, exposure mitigation and litigation management. Chaucer engages third party administrators to handle claims in certain cases and authorizes selected agencies to manage claims under risks which they have bound on Chaucer’s behalf.
For claims where Chaucer is the lead syndicate, our appointed claims adjusters establish the case reserves and may appoint attorneys, loss adjusters or other third party experts. For claims where Chaucer is not the lead syndicate, the Lloyd’s syndicate leading the risk establishes case reserves in conjunction with professional third party adjusters, and then advises all other syndicates participating on the risk of the loss reserve requirements. In such cases, the Chaucer claims team reviews material claims and developments.

 



   Company Address: 440 Lincoln Street Worcester 1653 MA
   Company Phone Number: 855-1000   Stock Exchange / Ticker: NYSE THG
   


Customers recorded net loss Customers recorded net loss



• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
AIG   -0.72%    
BRKA   -0.72%    
HIG        0.72% 
L        1% 
PGR        3.75% 
TRV        0.66% 
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Hanover Insurance Group Inc

Hanover Insurance Group Inc's Soaring Earnings Fueled by $17.10 Million Tax Windfall

The recent performance of Hanover Insurance Group Inc has given us a lot to be bearish about. While their earnings per share (EPS) saw a significant increase of 2300% to $0.24 per share in the July to September 2023 period, it is important to note that this growth is coming from a very low starting point of $-1.94 per share in the previous financial reporting period. This indicates that the company is struggling to maintain consistent profitability.
Revenue also increased by 11.001% to $1.52 billion in the same period, which may seem positive at first glance. However, when compared to the 8.59% business improvement seen in the overall Property & Casualty Insurance sector, it appears that Hanover Insurance Group Inc is not leading the pack. Other companies in the sector have shown stronger growth, raising concerns about Hanover's ability to compete effectively.

Hanover Insurance Group Inc

Exciting Surge in Hanover Insurance Group's Growth During Recent Fiscal Period Amidst Struggles

In the fast-paced world of the stock market, it's not uncommon to witness fluctuating trends and unpredictable market conditions. However, amid these uncertainties, it's essential to remember that there are always opportunities for growth and success. Analyzing the recent developments at Hanover Insurance Group Inc, we find a mixture of challenges and promising signs that may indicate a brighter future for the company and the stock market as a whole.
Looking at the fiscal period closing on June 30, 2023, Hanover Insurance Group Inc experienced a deficit per stock of $-1.94 per share. While this may seem discouraging at first glance, it's important to note that it is an improvement from the deficit of $0.63 per share recorded a year prior. Furthermore, when compared to the preceding reporting period, the deficit grew from $-0.34 per share. Although there is still work to be done, these numbers reflect a dynamic effort to overcome financial challenges and move towards profitability.

Hanover Insurance Group Inc

Hanover Insurance Group Inc Slips Into the Red: Reports Net Shortfall for Fiscal Span Closing March 31, 2023

Hanover Insurance Group Inc, a leading provider of property and casualty insurance products and services, has reported a net shortfall of $-0.34 per share for the fiscal span closing March 31, 2023. This is a significant drop from the $4.55 per share recorded in the same reporting period a year prior. The EPS also fell from $0.01 per share from the previous reporting period.
Despite the decline in EPS and net proceeds, Hanover Insurance Group Inc posted revenue growth of 5.019% to $1.44 billion from $1.37 billion in the similar reporting period a year before. The sequentially revenue also increased by 5.665% from $1.37 billion.






 

Hanover Insurance Group Inc's Segments
 
 
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