The Hanover's Net Income Jumps 42% in First Quarter

The Hanover Insurance Group has reported a 42% jump in its first quarter net income thanks to falling catastrophe losses, and continued price increases in its commercial and personal lines business, the company announced on Wednesday. The Worcester, Mass.-based insurer’s overall first quarter commercial lines net premiums written climbed to $604 million in the quarter, up from $582 million the year prior. The increase was in part due to an overall average price increase of 4.3% in its commercial lines book. Commercial lines operating income before taxes grew 36% to $42.7...