LONDON, UK / ACCESSWIRE / October 9, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for The Hanover Insurance Group, Inc. (NYSE: THG) ("Hanover Insurance"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=THG. The Company announced on October 05, 2017, the estimates for the third quarter catastrophe loss. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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The estimates for Hanover Insurance for Q3 2017 have been in the negative to the tune of $185 million to $225 million before taxes and net of reinsurance. The insurance Company gave an account of the losses owing to Hurricanes Harvey, Irma, Maria, and the two Mexico earthquakes along with other catastrophic events during the quarter affecting it.

The Damages

For Q3 2017, losses from Hanover Insurance's international specialty group, Chaucer, are estimated to be in the range of $115 million to $135 million before taxes and net of reinsurance. The largest losses are the result of Hurricanes Harvey and Irma, predominantly in the Company's treaty, direct property, marine, and energy lines. Losses in the Company's domestic business are expected to be in the range of $70 million to $90 million before taxes and net of reinsurance, predominantly in the commercial lines business, largely due to Hurricane Harvey.

On the damages sustained by Hanover Insurance, Jeffrey M. Farber, Executive Vice President and Chief Financial Officer, said:

"Our initial loss estimates are in-line with what we would expect for events of this magnitude, and are a reflection of our disciplined underwriting and risk management practices."

Reinsurance Industry

The Reinsurance Industry has been grappling with abhorrent weather and climatic situations in 2017, along with the challenges of a new presidency and a Brexit vote, as explained by financial services firm Deloitte L.L.P. Regulatory uncertainty is one of the main issues facing the property/casualty insurance sector, along with consumer demand for customization and real-time service, and excess capital puts pressure on revenue and profit growth.

Changes in the technological aspect is also a concern to be improved as companies are investing in newer applications and software, in order to derive benefits from better data and analytics, better customer and agent experience, and improved underwriting efficiency. Also, managing more complex portfolios with non-traditional assets in a low-interest rate, low economic growth environment is a big challenge. Operating under multiple regulatory jurisdictions and complying with changing rules with regard to such things as capital requirements, transparency, and reporting along with customer interaction is another big challenge.

Quarterly Results

Hanover Insurance expects to issue its third quarter financial results after the market closes on November 01, 2017. The Company will webcast a discussion of its results on Thursday, November 02, 2017 at 10:00 a.m.

About The Hanover Insurance Group, Inc.

Hanover Insurance is one of the largest insurance businesses in the United States and serves as the holding Company for several properties and casualty insurance companies. The Company distributes its products through a select group of independent agents and brokers. Together with its agents, Hanover Insurance offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. Through its international member Company, Chaucer, Hanover Insurance also underwrites business at Lloyd's of London in several major insurance and reinsurance classes, including marine, property, and energy.

Last Close Stock Review

At the closing bell, on Friday, October 06, 2017, Hanover Insurance's stock slightly slipped 0.44%, ending the trading session at $97.68. A total volume of 216.29 thousand shares have exchanged hands. The Company's stock price surged 11.13% in the last three months, 11.60% in the past six months, and 27.59% in the previous twelve months. Moreover, the stock gained 7.33% since the start of the year. The stock is trading at a PE ratio of 20.99 and has a dividend yield of 2.05%. The stock currently has a market cap of $4.14 billion.

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