The Hanover
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Ida soaks the tri-state – and has the potential to affect personal auto carriers more than comparable storms of the past. -
The Inside P&C Select Index outperformed the S&P 500 (5.7% to 2.9%) in August, despite Hurricane Ida making landfall.
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Employment data indicates that easy growth and margin expansion may slow soon.
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THG’s underlying loss ratio rose by 6 points in the second quarter, to 57.8%, which the company said was the result of rising economic activity.
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The company reported a combined ratio of 94.4%, a 1.8% improvement from the same period last year.
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Following strong year-to-date performance, P&C stocks were down in June after a change of tone in a Fed meeting.
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The insurer reported strong premium growth and average rate rises of 6.1% in its core commercial business.
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The Hanover has named Willard Lee chief information officer and executive vice president at the insurance group.
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The second week’s reporters continued to build upon the theme of rate momentum likely translating into ROE expansion.
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Roche raised concerns about the "reemergence of social inflation".
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Auto frequency benefits contributed to a 5.9-point fall in the loss ratio at its personal lines division.
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She will replace Kevin Condron in the position on his retirement due to a mandatory age limit for the role.
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