The Hanover Reports Strong Second Quarter Net Income and Operating Income of $1.12 and $1.88 per Diluted Share, Respectively

Second Quarter Highlights

WORCESTER, Mass., July 31, 2024 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today reported net income of $40.5 million, or $1.12 per diluted share, in the second quarter of 2024, compared to a net loss of $69.2 million, or $1.94 per basic share, in the prior-year quarter. Operating income⁽⁵⁾ was $68.1 million, or $1.88 per diluted share, in the second quarter of 2024, compared to an operating loss of $68.3 million, or $1.91 per basic share, in the prior-year quarter. The difference between net income and operating income in the second quarter of 2024 is due to the sale of some lower coupon fixed income securities, in consideration of expiring tax gains from 2021. The company reported net and operating return on equity⁽⁶⁾  of 6.4% and 9.0% for the second quarter of 2024 and 12.4% and 12.0% for the first six months of 2024, respectively.

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