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The Hanover Insurance Group, Inc.

The Hanover Insurance Group, Inc.

NYSE•THG
CEO: Mr. John Conner Roche
Sector: Financial Services
Industry: Insurance - Property & Casualty
Listing Date: 1995-10-11
The Hanover Insurance Group, Inc., through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage. The Specialty segment provides professional and executive Lines, marine, and surety and other, as well as specialty property and casualty, such as program business, specialty industrial business, excess and surplus business, and specialty general liability coverage. The Personal Lines segment offers personal automobile and homeowner's coverages, as well as other personal coverages, such as personal umbrella, inland marine, fire, personal watercraft, personal cyber, and other miscellaneous coverages. The Other segment markets investment advisory services to institutions, insurance companies, pension funds, and other organizations. The Hanover Insurance Group, Inc. markets its products and services through independent agents and brokers. The company was formerly known as Allmerica Financial Corp. and changed its name to The Hanover Insurance Group, Inc. in December 2005. The Hanover Insurance Group, Inc. was founded in 1852 and is headquartered in Worcester, Massachusetts.
Contact Information
440 Lincoln Street, Worcester, MA, 01653, United States
508-855-1000
www.hanover.com
Market Cap
$6.46B
P/E (TTM)
10.3
12.1
Dividend Yield
2.0%
52W High
$186.46
52W Low
$145.17
52W Range
88%
5.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$1.67B+6.64%
4-Quarter Trend

EPS

$4.98+77.86%
4-Quarter Trend

FCF

$551.40M+40.56%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Net Income Substantially Higher Net income reached $464.0M for nine months, showing strong $205.9M improvement over 2024 results driven by operating income.
Core Operating Income Jumps Operating income before interest and taxes grew $248.3M to $644.0M, primarily due to significantly lower catastrophe losses year-to-date.
Premiums Written Increased Net premiums written increased $195.0M to $4,833.5M for nine months, driven by renewal price increases and new business growth.
Statutory Surplus Strengthened Insurance subsidiary statutory surplus increased $301.4M to $3,273.1M, supported by strong operating profits year-to-date.

Risk Factors

Core Commercial Profit Decreased Core Commercial underwriting profit fell $56.9M due to higher current accident year losses in commercial automobile and workers' compensation.
Catastrophe Losses Increased Pre-tax catastrophe losses rose $17.7M for nine months, driven by severe convective storms and wildfires experienced during 2025.
Fixed Maturity Unrealized Losses Fixed maturities show $300.6M gross unrealized losses; market volatility risks future impairment charges on investment portfolio.
Personal Lines Policy Count Down Personal Lines PIF declined due to selective quoting actions; auto PIF down 3.2% and homeowners PIF down 2.5% since last year.

Outlook

Reinsurance Coverage Enhanced Core property catastrophe reinsurance coverage enhanced up to $1.9B retention maintained at $200M via new agreement effective July 1, 2025.
Stock Repurchase Availability $229M remains available under the $1.3B stock repurchase authorization; company remains compliant with all debt covenants.
Investment Focus Maintained Expect new funds primarily in investment-grade fixed maturities; portfolio quality supports long-term economic value realization.
Tax Legislation Impact Assessed New 2025 tax legislation primarily impacts deduction timing; management does not expect material financial position impact.

Peer Comparison

Revenue (TTM)

The Progressive CorporationPGR
$85.19B
+18.4%
The Allstate CorporationALL
$66.83B
+7.0%
Chubb LimitedCB
$58.70B
+6.4%

Gross Margin (Latest Quarter)

Horace Mann Educators CorporationHMN
100.0%
+0.0 pp
CNA Financial CorporationCNA
100.0%
+10.0 pp
White Mountains Insurance Group, Ltd.WTM
47.5%
-47.7 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
PGR$127.54B11.946.8%0.0%
CB$115.34B12.014.3%6.4%
TRV$63.81B10.820.1%6.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+1.8%
Moderate Growth
4Q Net Income CAGR
+2.1%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 30, 2025|
    Revenue: $1.67B+6.6%
    |
    EPS: $4.98+77.9%
    Meet
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 31, 2025|
    Revenue: $1.65B+7.5%
    |
    EPS: $4.38+291.1%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 1, 2025|
    Revenue: $1.60B+3.5%
    |
    EPS: $3.50+10.1%
    Meet
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 24, 2025|
    Revenue: $6.22B+4.2%
    |
    EPS: $11.85+1109.2%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 31, 2024|
    Revenue: $1.56B+2.9%
    |
    EPS: $2.80+1066.7%
    Meet
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 1, 2024|
    Revenue: $1.54B+2.1%
    |
    EPS: $1.12-157.7%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 2, 2024|
    Revenue: $1.54B+6.8%
    |
    EPS: $3.18-1035.3%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 22, 2024|
    Revenue: $5.96B+9.8%
    |
    EPS: $0.98-69.5%
    Miss