Latest news with #TheHanoverInsuranceGroup
Yahoo
31-07-2025
- Business
- Yahoo
AM Best Affirms Credit Ratings of The Hanover Insurance Group, Inc. and Its Subsidiaries
OLDWICK, N.J., July 31, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a+" (Excellent) of the property/casualty subsidiaries of The Hanover Insurance Group, Inc. [NYSE: THG], which are collectively referred to as The Hanover. Additionally, AM Best has affirmed the Long-Term ICR of "bbb+" (Good) and all Long-Term Issue Credit Ratings (Long-Term IR) of The Hanover Insurance Group, Inc., which is the parent holding company. The outlook of these Credit Ratings (ratings) is stable. All companies are headquartered in Worcester, MA. (See below for a detailed listing of the companies and ratings.) The ratings reflect The Hanover's balance sheet strength, which AM Best assesses at the strongest level, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM). The Hanover's balance sheet strength assessment is supported by its risk-adjusted capitalization, which is at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR). The overall balance sheet strength assessment also considers the solid organic surplus growth over the recent five-year period despite ongoing stockholder dividends, as well as the group's stable loss reserve position and favorable development patterns. Balance sheet strength also reflects the comprehensive reinsurance program and the benefits derived from the additional financial flexibility available through the parent company, The Hanover Insurance Group, Inc. These positive factors are offset somewhat by higher premium and underwriting leverage measures, as well as the group's regional exposure to natural catastrophe and terror events. The Hanover's financial leverage remains within acceptable levels relative to the group's current ratings with improved interest coverage. The Hanover's ratings reflect its adequate operating performance. While pre-tax operating earnings have trailed the commercial casualty composite over the long term, improved operating performance in 2024 reflects ongoing initiatives to enhance results inclusive of additional rate, combined with a reduction in reported catastrophe losses relative to 2023. Rate and exposure increases drove strong top-line growth in commercial lines in 2024 as results benefited from lower catastrophe losses combined with favorable reserve development on prior-year losses. The decline in catastrophe losses in 2024 led to improvement in personal lines results, which benefit from ongoing exposure management initiatives, combined with the benefit of earned premium reflective of ongoing rate improvement. Recent 2024 initiatives, which are showing demonstrated earnings improvement include ongoing rate actions, in combination with higher insurance-to-value ratios, increases in deductibles for roofs and all perils, as well as selective non renewals where appropriate. The ratings also consider the group's favorable business profile and diversified product offerings, especially within its commercial and specialty lines of business. The Hanover's business profile assessment reflects its strong market position, reflective of its leading position in many of its targeted niche segments, as well as an experienced management team. The group's product range includes personal lines, core commercial offerings and specialty coverages, with business expansion supported by strong relationships with its independent agency partners. The Hanover has implemented an appropriately designed and embedded ERM program to address the organization's risks. The group's ERM program is appropriate for the scale, scope, and complexity of the organization and the ability to monitor key risks and tolerances is well-established. The FSR of A (Excellent) and the Long-Term ICRs of "a+" (Excellent) have been affirmed with stable outlooks for the following subsidiaries of The Hanover Insurance Group, Inc.: AIX Specialty Insurance Company Allmerica Financial Alliance Insurance Company Allmerica Financial Benefit Insurance Company Campmed Casualty & Indemnity Company, Inc. Citizens Insurance Company of America Citizens Insurance Company of Ohio Citizens Insurance Company of the Midwest Citizens Insurance Company of Illinois The Hanover American Insurance Company The Hanover Atlantic Insurance Company Ltd. The Hanover Insurance Company The Hanover Casualty Company (formerly known as Hanover Lloyd's Insurance Company) Massachusetts Bay Insurance Company NOVA Casualty Company Verlan Fire Insurance Company The following Long-Term IRs have been affirmed with a stable outlook: The Hanover Insurance Group, Inc.— -- "bbb+" (Good) on $199.5 million 7.625% senior unsecured debentures, due 2025 (of which $61.8 million remains outstanding)-- "bbb+" (Good) on $375.0 million 4.5% senior unsecured fixed rate notes, due 2026-- "bbb-" (Good) on $165.7 million 8.207% subordinated deferrable debentures, due 2027 (of which $50.1 million remains outstanding)-- "bbb+" (Good) on $300 million 2.5% senior unsecured notes, due 2030 The following indicative Long-Term IRs under the shelf registration have been affirmed with a stable outlook: The Hanover Insurance Group, Inc.— -- "bbb+" (Good) on senior unsecured debt-- "bbb-" (Good) on subordinated debt-- "bbb-" (Good) on preferred stock This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Gordon McLean Senior Financial Analyst +1 908 882 2109 Rosemarie Mirabella Director +1 908 882 2125 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error in retrieving data Sign in to access your portfolio Error in retrieving data
Business Wire
31-07-2025
- Business
- Business Wire
AM Best Affirms Credit Ratings of The Hanover Insurance Group, Inc. and Its Subsidiaries
BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of 'a+' (Excellent) of the property/casualty subsidiaries of The Hanover Insurance Group, Inc. [NYSE: THG], which are collectively referred to as The Hanover. Additionally, AM Best has affirmed the Long-Term ICR of 'bbb+' (Good) and all Long-Term Issue Credit Ratings (Long-Term IR) of The Hanover Insurance Group, Inc., which is the parent holding company. The outlook of these Credit Ratings (ratings) is stable. All companies are headquartered in Worcester, MA. (See below for a detailed listing of the companies and ratings.) The ratings reflect The Hanover's balance sheet strength, which AM Best assesses at the strongest level, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM). The Hanover's balance sheet strength assessment is supported by its risk-adjusted capitalization, which is at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR). The overall balance sheet strength assessment also considers the solid organic surplus growth over the recent five-year period despite ongoing stockholder dividends, as well as the group's stable loss reserve position and favorable development patterns. Balance sheet strength also reflects the comprehensive reinsurance program and the benefits derived from the additional financial flexibility available through the parent company, The Hanover Insurance Group, Inc. These positive factors are offset somewhat by higher premium and underwriting leverage measures, as well as the group's regional exposure to natural catastrophe and terror events. The Hanover's financial leverage remains within acceptable levels relative to the group's current ratings with improved interest coverage. The Hanover's ratings reflect its adequate operating performance. While pre-tax operating earnings have trailed the commercial casualty composite over the long term, improved operating performance in 2024 reflects ongoing initiatives to enhance results inclusive of additional rate, combined with a reduction in reported catastrophe losses relative to 2023. Rate and exposure increases drove strong top-line growth in commercial lines in 2024 as results benefited from lower catastrophe losses combined with favorable reserve development on prior-year losses. The decline in catastrophe losses in 2024 led to improvement in personal lines results, which benefit from ongoing exposure management initiatives, combined with the benefit of earned premium reflective of ongoing rate improvement. Recent 2024 initiatives, which are showing demonstrated earnings improvement include ongoing rate actions, in combination with higher insurance-to-value ratios, increases in deductibles for roofs and all perils, as well as selective non renewals where appropriate. The ratings also consider the group's favorable business profile and diversified product offerings, especially within its commercial and specialty lines of business. The Hanover's business profile assessment reflects its strong market position, reflective of its leading position in many of its targeted niche segments, as well as an experienced management team. The group's product range includes personal lines, core commercial offerings and specialty coverages, with business expansion supported by strong relationships with its independent agency partners. The Hanover has implemented an appropriately designed and embedded ERM program to address the organization's risks. The group's ERM program is appropriate for the scale, scope, and complexity of the organization and the ability to monitor key risks and tolerances is well-established. The FSR of A (Excellent) and the Long-Term ICRs of 'a+' (Excellent) have been affirmed with stable outlooks for the following subsidiaries of The Hanover Insurance Group, Inc.: AIX Specialty Insurance Company Allmerica Financial Alliance Insurance Company Allmerica Financial Benefit Insurance Company Campmed Casualty & Indemnity Company, Inc. Citizens Insurance Company of America Citizens Insurance Company of Ohio Citizens Insurance Company of the Midwest Citizens Insurance Company of Illinois The Hanover American Insurance Company The Hanover Atlantic Insurance Company Ltd. The Hanover Insurance Company The Hanover Casualty Company (formerly known as Hanover Lloyd's Insurance Company) Massachusetts Bay Insurance Company NOVA Casualty Company Verlan Fire Insurance Company The following Long-Term IRs have been affirmed with a stable outlook: The Hanover Insurance Group, Inc.— -- 'bbb+' (Good) on $199.5 million 7.625% senior unsecured debentures, due 2025 (of which $61.8 million remains outstanding) -- 'bbb+' (Good) on $375.0 million 4.5% senior unsecured fixed rate notes, due 2026 -- 'bbb-' (Good) on $165.7 million 8.207% subordinated deferrable debentures, due 2027 (of which $50.1 million remains outstanding) -- 'bbb+' (Good) on $300 million 2.5% senior unsecured notes, due 2030 The following indicative Long-Term IRs under the shelf registration have been affirmed with a stable outlook: The Hanover Insurance Group, Inc.— -- 'bbb+' (Good) on senior unsecured debt -- 'bbb-' (Good) on subordinated debt -- 'bbb-' (Good) on preferred stock This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
Business Wire
16-07-2025
- Business
- Business Wire
The Hartford Names Prateek Chhabra Chief Risk Officer
HARTFORD, Conn.--(BUSINESS WIRE)-- The Hartford is promoting Prateek Chhabra to chief risk officer, succeeding Robert Paiano who will retire from the company at the end of the year following 29 years of service. Chhabra will report directly to The Hartford's Chairman and CEO Christopher Swift. The move is effective Sept. 1, 2025. 'Prateek is an accomplished risk manager with deep knowledge of the insurance industry and known for his ability to turn complex challenges into actionable insights,' said Swift. 'He has advanced our risk management capabilities, driven innovation and implemented strategic improvements across our enterprise making him ideally suited for the role of chief risk officer.' Since 2018, Chhabra has served as senior vice president and chief insurance risk officer for The Hartford. Prior to joining the company, he was chief risk officer for domestic businesses at The Hanover Insurance Group. Earlier in his career, he held multiple risk and strategy consulting roles focusing on the financial-services sector with market leaders, including McKinsey and Company, Aon and Verisk (AIR Worldwide at the time). Paiano has had an accomplished 40-year career in the financial-services industry, culminating with his role as chief risk officer for The Hartford since 2017. Prior to that he served as the company's treasurer. Effective Sept. 1, he will assume an advisory role to ensure a seamless transition. Swift added, 'I commend and honor Robert and the enduring impact of his leadership at The Hartford. He has been a trusted advisor and an exceptional developer of talent. His legacy is defined by a data-driven and thoughtful approach to managing risk, capital and liquidity – hallmarks of our culture. This change reflects the strength of our succession planning and the depth of leadership across the organization.' About The Hartford The Hartford is a leader in property and casualty insurance, employee benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at The Hartford Insurance Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford's legal notice. HIG-C Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2024 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued. From time to time, The Hartford may use its website and/or social media channels to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the 'Email Alerts' section at
Yahoo
13-05-2025
- Business
- Yahoo
Investors in Hanover Insurance Group (NYSE:THG) have seen impressive returns of 108% over the past five years
When you buy and hold a stock for the long term, you definitely want it to provide a positive return. Furthermore, you'd generally like to see the share price rise faster than the market. Unfortunately for shareholders, while the The Hanover Insurance Group, Inc. (NYSE:THG) share price is up 84% in the last five years, that's less than the market return. But if you include dividends then the return is market-beating. However, more recent buyers should be happy with the increase of 24% over the last year. Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. Over half a decade, Hanover Insurance Group managed to grow its earnings per share at 12% a year. This EPS growth is remarkably close to the 13% average annual increase in the share price. That suggests that the market sentiment around the company hasn't changed much over that time. Rather, the share price has approximately tracked EPS growth. The image below shows how EPS has tracked over time (if you click on the image you can see greater detail). We know that Hanover Insurance Group has improved its bottom line lately, but is it going to grow revenue? This free report showing analyst revenue forecasts should help you figure out if the EPS growth can be sustained. As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. As it happens, Hanover Insurance Group's TSR for the last 5 years was 108%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return. It's good to see that Hanover Insurance Group has rewarded shareholders with a total shareholder return of 27% in the last twelve months. That's including the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 16% per year), it would seem that the stock's performance has improved in recent times. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. If you would like to research Hanover Insurance Group in more detail then you might want to take a look at whether insiders have been buying or selling shares in the company. Of course Hanover Insurance Group may not be the best stock to buy. So you may wish to see this free collection of growth stocks. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Strong Quarterly Results and Outlook Lifted The Hanover Insurance Group (THG) in Q1
The London Company, an investment management company, released 'The London Company Small Cap Strategy' first quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. equities experienced a correction in 1Q25 due to macro risks, weak economic growth, and inflation. The fund declined 6.9% (-7.1%, net) compared to a 9.5% decrease in the Russell 2000 Index. The positive impact of stock selection contributed to the strategy's relative performance in the quarter, partially offset by sector exposure. For more information on the fund's top picks in 2025, please check its top five holdings. In its first-quarter 2025 investor letter, The London Company Small Cap Strategy highlighted stocks such as The Hanover Insurance Group, Inc. (NYSE:THG). The Hanover Insurance Group, Inc. (NYSE:THG) is a US-based insurance company that offers various property and casualty insurance products and services. The one-month return of The Hanover Insurance Group, Inc. (NYSE:THG) was 4.86%, and its shares gained 24.02% of their value over the last 52 weeks. On May 12, 2025, The Hanover Insurance Group, Inc. (NYSE:THG) stock closed at $167.57 per share with a market capitalization of $6.02 billion. The London Company Small Cap Strategy stated the following regarding The Hanover Insurance Group, Inc. (NYSE:THG) in its Q1 2025 investor letter: "The Hanover Insurance Group, Inc. (NYSE:THG): THG outperformed in the quarter due to strong 4Q24 earnings and 2025 outlook. The thesis is playing out as the company is trending towards high-teens ROE as margins normalize following a flurry of underwriting actions. We like the underwriting-focused culture, niche competitive positioning, and astute management team." A woman in her car checking her insurance documents with a satisfied smile. The Hanover Insurance Group, Inc. (NYSE:THG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held The Hanover Insurance Group, Inc. (NYSE:THG) at the end of the fourth quarter which was 24 in the previous quarter. While we acknowledge the potential of The Hanover Insurance Group, Inc. (NYSE:THG) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we covered The Hanover Insurance Group, Inc. (NYSE:THG) and shared Heartland Value Plus Fund's views on the company. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
