The Hanover Boosts Net Income by 50% in Q1

The Hanover Insurance Group Inc. has reported first quarter net income of $67.7 million, a 50% increase from $45.2 million in the first quarter of 2017. In the commercial lines segment, pre-tax operating income was $61.5 million, compared to $37.4 million in the prior-year quarter. Net premiums written for commercial lines increased 7.5% in the first quarter, to $672 million. Commercial lines catastrophe losses were $38 million, up from $36.4 million in the prior-year quarter. First quarter results also included $1.6 million of favorable prior-year reserve development. The commercial lines ...