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
Home improvement company Lowe's and pet retailer Petco Health and Wellness Co. are set to launch a pilot store-in-store program whereby a total home solution will be offered to customers by bringing home improvement as well as pet care products, services and expertise together under the same roof. Chevron Corporation (CVX) reported fourth quarter profit of $5.1 billion or $2.63 per share, compared to a loss of $665 million or $0.33 per share, previous year. The company's U.S. upstream operations earned $2.97 billion, compared to $101 million, a year ago. The company said the improvement was primarily... While reporting financial results for the fourth quarter on Friday, Colgate-Palmolive Co. (CL) initiated its earnings and sales growth guidance for the full-year 2022. For fiscal 2022, the company now expects earnings per share to grow in double-digit percentage and adjusted earnings per share growth...
Follow RTT