Hanover sees wider Q4 catastrophe losses, shares fall

Hanover Insurance group

19/01/2023 16:09

** Shares of property and casualty insurer Hanover Insurance
Group Inc  THG.N  fall 2.8% to nearly 3-month low of $127.80 
    ** Co expects Q4 prelim catastrophe losses of about $190 mln
before taxes vs a loss of $90.1 mln in Q3
    ** Q4 prelim catastrophe losses are about $137 mln above
co's pre-tax Q4 assumption, driven by effects of Winter Storm
Elliott
    ** Co expects Q4 operating loss of $1.05/share vs operating
income of $3.38/share in Q4 2021
    ** THG rose ~3% in 2022
 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.kalia@thomsonreuters.com))