The Hanover Reports Record First Quarter Net Income and Operating Income of $5.20 and $5.25 per Diluted Share, Respectively; Record Net and Operating Return on Equity of 20.9% and 20.3%, Respectively

About this update from Hanover Insurance Group Inc

First Quarter Highlights WORCESTER, Mass., April 29, 2026 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today reported net income of $186.8 million, or $5.20 per diluted share, in the first quarter of 2026, compared to $128.2 million, or $3.50 per diluted share, in the prior-year quarter. Operating income(5) was $188.5 million, or $5.25 per diluted share, in the first quarter of 2026, compared to $141.8 million, or $3.87 per diluted share, in the prior-year quarter. The company reported net and operating return on equity(6) of 20.9% and 20.3%, respectively, in the first quarter of 2026. "We delivered excellent first quarter results, with an operating return on equity of over 20% while generating balanced top‑line growth and building for the future," said John C. Roche, president and chief executive officer at The Hanover. "Our performance underscores disciplined execution and the cumulative impact of prior pricing and property underwriting actions that are now bearing fruit. In Personal Lines, we sustained strong margins, delivering solid growth and demonstrating the effectiveness of our state‑specific growth strategies. Core Commercial performance remained strong, with healthy margins, resilient pricing, and balanced and accelerating premium growth, particularly in Small Commercial. Specialty once again delivered exceptional profitability and robust premium increases in targeted segments - Management Liability, Surety, Specialty GL and E&S - as our team navigated pockets of soft property market conditions through pricing rigor and a continued focus on disciplined risk selection. Supported by strong recent results, a diversified portfolio, and an experienced, agile team, we remain focused on executing effectively and delivering strong returns in a dynamic market environment." "We are extremely pleased with our financial metrics this quarter, including first quarter record operating earnings per share of $5.25 and a combined ratio of 91.7%," said Jeffrey M. Farber, executive vice president and chief financial officer at The Hanover. "Our ability to sustain strong underwriting margins is evident in the 2.4-point improvement in our ex-CAT combined ratio compared to the prior-year quarter. Once again, we delivered strong net investment income, with growth of nearly 20%, as higher cash flows and yields con...

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