Hanover Q2 net income reverses to $40.5 million profit, or $1.12 per diluted share
The Hanover Insurance Group reported second-quarter 2024 net income of $40.5 million, or $1.12 per diluted share, compared with a net loss of $69.2 million a year earlier. Operating income was $68.1 million, or $1.88 per diluted share, versus an operating loss of $68.3 million in the prior-year quarter, and the combined ratio improved to 99.2% from 111.3%. Shareholders should note that net realized investment losses of $30.4 million, from selling lower-coupon fixed income securities, reduced net income relative to operating income.
Key points
- Net income of $40.5 million, or $1.12 per diluted share, vs. a net loss of $69.2 million, or $1.94 per basic share, in Q2 2023
- Operating income of $68.1 million, or $1.88 per diluted share, vs. an operating loss of $68.3 million in Q2 2023
- Combined ratio of 99.2% vs. 111.3%; catastrophe losses of $157.1 million, or 10.7 points
- Net premiums written rose 5.1% to $1,521.1 million; book value per share was $70.96 at June 30, 2024
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:17 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 31, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.