logo
  

Hanover Insurance Posts Preliminary Estimate For Q3 Catastrophe Losses

The Hanover Insurance Group, Inc. (THG) said the midpoint its preliminary estimate for third quarter catastrophe losses is approximately $97 million above the pre-tax third quarter catastrophe load, driven primarily by the effects of Hurricane Ida. Estimated losses from the storm are approximately $75 million, before taxes.

Based on information available to date, the company's preliminary estimate for third quarter catastrophe losses, are in the range of $150 million to $165 million before taxes, or $119 million to $130 million after taxes.

"Catastrophes aside, we expect our third quarter results to reflect our strong underlying performance, highlighting our distinctive market position, as well as our proven underwriting, pricing and risk management expertise," said John Roche, CEO.

The company expects to issue its third quarter results after the market closes on October 27.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
This Black Friday and the following holiday season, retailers across the United States are urged to keep up their inventory amid expected surge in shopping as majority of Americans wait till last minute to fill their baskets, according to certain studies. A new Oracle Retail survey, which was conducted last week and presented earlier this week, showed that 66 percent of consumers were less than Eagle, Idaho -based Flagship Food Group is recalling certain TJ Farms Select brand frozen cauliflower, citing the potential to be contaminated with Listeria monocytogenes, the U.S. Food and Drug Administration said. The recall involves a limited number of cases of TJ Farms Select cauliflower that comes in 16 oz. packages with lot code 2077890089 and UPC code 75544000604-3. The U.S. Food and Drug Administration has approved Takeda Pharmaceuticals Co. Ltd.'s Livtencity (maribavir) as the first drug to treat post-transplant cytomegalovirus or CMV in adults and pediatric patients. The approval is to treat patients 12 years of age and older and weighing at least 35 kilograms with post-transplant CMV infection/disease that does not respond...
RELATED NEWS
Follow RTT