The Hanover

The firm’s NWP decreased 5% primarily due to the impact of the personal auto premium returns.

The insurer does not expect Covid-19 losses to have a material impact on its second quarter earnings.

Management struck a bullish tone as it outlined expectations of capped Covid-19 losses while asserting that lower claim frequencies would likely benefit the loss ratio more than falling premiums.

The insurer’s CEO says it has identified 538 policies where coverage could be triggered.

Benign frequency due to fewer miles driven in personal helped offset a weaker underlying loss ratio in commercial driven by one large fire loss and an unquantified Covid-19 loss reserve.

The former senior vice president at AmWins replaces James Abraham, who is retiring.

Medina joined The Hanover in 2014 from The Hartford, having begun her career at Travelers.

Cynthia Egan, appointed vice chair, is poised to succeed current chairman Kevin Condron in May 2021.

Hanover reported Q4 earnings with the lowest expense ratio in over a decade, following a similar improving trend at WR Berkley and Travelers.

The carrier says the claims outstrip expectations by $20mn as it predicts a Q4 combined ratio of up to 96.5 percent.

Mitchell was appointed president of middle market, while Grieco was made chief product and underwriting officer for commercial and specialty.

An accelerated share buyback and a special dividend will complete the deployment of the $850mn generated through the China Re deal.