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The Hanover Insurance Group Quarterly Net Income Inches Up

Feb 10, 2011 | Reprints | Unlock Link | Print

TheHanoverInsuranceGroup Logo Worcester-based The Hanover Insurance Group’s $58.4 million in net income for the fourth quarter 2010 was up slightly compared to the $57.3 million reported in the fourth quarter 2009.

However, net income for the full year 2010 was $154.8 million, a nearly 22 percent decrease compared to net income of $197.2 million in 2009.

"Our fourth quarter results reflect a continuation of the positive trends we saw during 2010," said Frederick H. Eppinger, CEO at The Hanover. "Our ex-catastrophe accident year loss ratio improved by three points compared to the prior-year quarter, and we grew ex-catastrophe P&C earnings by 20 percent, all while achieving significant net written premium growth."

Insurance