The Hanover Reports $11M Profit in Q3, Welcomes New CEO

The Hanover Insurance Group Inc. has reported net income of $11.1 million for the third quarter, down from net income of $88.4 million in the third quarter of 2016. For the nine months ending Sept. 30, net income was $135 million, compared to $169 million in the prior-year period. In a news release, the company noted catastrophe losses of $202 million, primarily due to hurricanes Harvey, Irma and Maria, and earthquakes in Mexico. Net premiums written in the core commercial segment grew 6.5% in the third quarter, to $410 million. The core commercial business includes workers’ c...