Hanover Insurance Buyback Hits $149M YTD, Combined Ratio Drops to 81.9%
THG sits 41% above its 52-week low of $165.17.
Summary
Hanover Insurance repurchased ~291,000 shares for ~$55M in Q2, bringing YTD buybacks to ~827,000 shares (~$149M) with ~$660M remaining under its $700M program. The accident-year ex-cat combined ratio improved to 81.9%, driven by better loss ratios in homeowners (43.7%) and Personal Auto (64.7%). This follows the record Q2 earnings reported last week, where net income hit $191.6M and catastrophe losses dropped sharply. The buyback pace and underwriting margin expansion reinforce the strong capital position and profitability trend. With the stock near its 52-week high, continued execution on buybacks and loss ratio improvement could support further upside.
At the time of this announcement, THG was trading at $233.00 on NYSE in the Finance sector, with a market capitalization of approximately $8.1B. The 52-week trading range was $165.17 to $235.16. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.