The Hanover Insurance Group, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 31, 2024 at 05:23 pm EST
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The Hanover Insurance Group, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 1,528.8 million compared to USD 1,478.7 million a year ago. Net income was USD 107.9 million compared to net loss of USD 12.1 million a year ago. Diluted earnings per share from continuing operations was USD 2.97 compared to diluted loss per share from continuing operations of USD 0.33 a year ago. Diluted earnings per share was USD 2.98 compared to diluted loss per share of USD 0.34 a year ago.
For the full year, revenue was USD 5,993.5 million compared to USD 5,468.6 million a year ago. Net income was USD 35.3 million compared to USD 116 million a year ago. Diluted earnings per share from continuing operations was USD 0.93 compared to USD 3.23 a year ago. Diluted earnings per share was USD 0.98 compared to USD 3.21 a year ago.
The Hanover Insurance Group, Inc. is the holding company, which is engaged in the business of property and casualty insurance products and services. The Company operates through three segments: Core Commercial, Specialty, Personal Lines and Other. Core Commercial product suite provides agents and customers with products designed for small and mid-sized businesses. Core Commercial segment coverages include commercial multiple peril, workersâ compensation, and other core commercial. Specialty segment offers a comprehensive suite of products focused predominately on small to mid-sized businesses. This includes various specialized products that are organized into four distinct divisions: Professional and Executive Lines, Specialty Property & Casualty, Marine, and Surety and Other. Personal Lines segment coverages include Personal automobile, and Homeowners and other personal lines. The Other segment primarily includes Opus, which provides investment advisory services to affiliates.
THE HANOVER INSURANCE GROUP, INC. 
