The Hanover Insurance Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 04:47 pm EDT
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The Hanover Insurance Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 1,504.4 million compared to USD 1,292.9 million a year ago. Net loss was USD 69.2 million compared to net income of USD 22.7 million a year ago. Basic loss per share from continuing operations was USD 1.96 compared to basic earnings per share from continuing operations of USD 0.63 a year ago. Diluted loss per share from continuing operations was USD 1.96 compared to diluted earnings per share from continuing operations of USD 0.63 a year ago. Basic loss per share was USD 1.94 compared to basic earnings per share of USD 0.63 a year ago. Diluted loss per share was USD 1.94 compared to diluted earnings per share of USD 0.63 a year ago.
For the six months, revenue was USD 2,948.1 million compared to USD 2,623.6 million a year ago. Net loss was USD 81.2 million compared to net income of USD 127.6 million a year ago. Basic loss per share from continuing operations was USD 2.3 compared to basic earnings per share from continuing operations of USD 3.55 a year ago. Diluted loss per share from continuing operations was USD 2.3 compared to diluted earnings per share from continuing operations of USD 3.55 a year ago. Basic loss per share was USD 2.27 compared to basic earnings per share of USD 3.53 a year ago. Diluted loss per share was USD 2.27 compared to diluted earnings per share of USD 3.53 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. 
