hanover insurance group inc/ (THG) Key Developments
The Hanover Insurance Group, Inc. Declares Quarterly Dividend, Payable September 25, 2015
Aug 25 15
The Hanover Insurance Group, Inc. announced that its board of directors declared a quarterly dividend of $0.41 per share on the issued and outstanding common stock of the company, payable September 25, 2015, to shareholders of record at the close of business on September 11, 2015.
the Hanover Insurance Group, Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reaffirms Earnings Guidance for the Year 2015
Jul 29 15
The Hanover Insurance Group, Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported premiums earned of $1,205.8 million against $1,174.7 million a year ago. Total revenues were $1,297.1 million against $1,273.0 million a year ago. Income from continuing operations before income taxes was $152.6 million against $107.7 million a year ago. Income from continuing operations was $120.9 million against $82.5 million a year ago. Net income was $120.7 million against $82.6 million a year ago. Book value per share was $66.28 against $63.65 per share a year ago. Operating income per share diluted was $1.56 against $1.30 per share a year ago. Operating income was $70.4 million against $58.4 million a year ago. The larger than normal difference between net and operating income in the current quarter is primarily due to the $40 million realized gain or $0.91 per share from the transfer of the company's U.K. Motor business that the company successfully closed on June 30.
For the six months, the company reported premiums earned of $2,416.8 million against $2,337.7 million a year ago. Total revenues were $2,595.8 million against $2,516.9 million a year ago. Income from continuing operations before income taxes was $229.6 million against $179.8 million a year ago. Income from continuing operations was $175.8 million against $137.2 million a year ago. Net income was $175.6 million against $137.2 million a year ago. Book value per share was $66.28 against $63.65 per share a year ago. Operating income per share diluted was $2.83 against $2.35 per share a year ago. Operating income was $127.5 million against $105.4 million a year ago.
For the year 2015, the company remain on track to deliver an EPS for the year in the range of $5.70 to $6 a share, consistent with its previous guidance.
The Hanover Insurance Group Launches New Suite of Cyber Coverages
Jul 27 15
The Hanover Insurance Group, Inc. announced the launch of a new suite of cyber products designed to help protect small to mid-sized businesses from losses related to data breaches and cyberattacks. The Hanover's new suite of cyber capabilities for business owner's policies enables independent insurance agents to deliver more value to their customers, offering more protection against the threat from cyberattacks and data breaches. These enhancements to both first and third party coverage options better protect businesses against possible financial damages resulting from cyberattacks and data breaches. The enhanced business owner's policy data breach coverage provides first party protection for covered direct
costs a business faces when a data breach occurs, including: Notification and investigation expenses such as credit monitoring and forensic analysis expenses; Cyber business interruption and extra expenses incurred due to a data breach; Breach restoration expenses for the cost of labor to recreate or copy lost or stolen data; Additional expenses including legal services, public relations, data breach theft and data breach ransom and reward, fraud alert, identity restoration, consulting services, and more. The Hanover's new cyber liability coverage also includes defense and liability protection for claims brought against insureds by a third party, including: Privacy and security liability for third party claims arising from a privacy or security breach, including loss or theft of personal data, violation or failure of the insureds' systems and Cyber media liability for electronic media breaches such as infringement, trademark, plagiarism, invasion of privacy, libel, defamation and slander.
Hanover Insurance Unveils New Fidelity and Crime Advantage Policy
Jul 15 15
Hanover Insurance unveiled new fidelity and crime advantage policy. Aimed at safeguarding employees and companies, the new policy will allow independent agents to develop customized insurance programs to meet their clients' requirements. The company said that the new coverage will be delivered as a monoline policy or as part of the management liability package. Fidelity & Crime Advantage provides premises coverage insurance agreement that integrates theft and robbery/safe burglary inside insureds' premises. Additionally, the plan also offers coverage for employees while on military services. It also caters notice or proof of loss up to 180 days after discovery and prior dishonesty threshold of $25,000. In order to save employee benefit plan assets from acts of fraud or dishonesty by individuals responsible for managing the plans, the Fidelity & Crime Advantage policy offers benefit plan limits that can be adjusted to ERISA requirements. The company has also enhanced it crime policy form that will provide a number of coverages such as client's property, personal accounts, computer and ID fraud, as well as claim and data restoration investigative expenses.
The Hanover Insurance Group, Inc. to Report Q2, 2015 Results on Jul 29, 2015
Jun 23 15
The Hanover Insurance Group, Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jul 29, 2015