The Hanover swings back to underwriting profit of $88mn after cat-heavy Q3
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The Hanover swings back to underwriting profit of $88mn after cat-heavy Q3

Giovanna Bellotti Azevedo
February 02, 2022
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The Hanover Group posted an underwriting profit of $88mn for the fourth quarter, marking a 5% increase YoY and a reversal from the carrier’s $31mn underwriting loss in Q3, when it was weighed down by losses from Hurricane Ida and rising claims costs.

The company’s fourth quarter adjusted earnings per share rose by 11.9% to $3.38, or $122mn in total. That marks an improvement from the $112mn in operating income the company reported in the prior-year quarter.

Despite

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Giovanna Bellotti Azevedo
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