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The Hanover Reports First Quarter Results

PR Newswire - Tue May 2, 2023

First Quarter Highlights

WORCESTER, Mass., May 2, 2023 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today reported a net loss of $12.0 million, or $(0.34) per basic share, in the first quarter of 2023, compared to net income of $104.9 million, or $2.90 per diluted share, in the prior-year quarter. Operating income⁽⁴⁾ was $4.6 million, or $0.13 per diluted share, in the first quarter of 2023, compared to $117.7 million, or $3.26 per diluted share, in the prior-year quarter. The difference between net loss and operating income in the first quarter of 2023 was primarily due to losses on intent to sell fixed income securities and a decrease in the fair value of equity securities during the period.

Read more at prnewswire.com

Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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