Hanover Group Net Income Down Sharply in Q2

Net income at the Hanover Insurance Group Inc. plummeted to $2 million in the second quarter, dropping from $120.7 million in the prior-year quarter, the company reported on Friday. Net income for the first six months of the year was $80.2 million, a 54% decrease from $175.6 million in the first half of 2015. Net premiums written for commercial lines were $580 million in the quarter, up 1.9% from the prior-year quarter. The combined ratio for commercial lines in the second quarter was 98.9%, up from 98.3% in the prior-year quarter. For the first half of the year, commercial lines combi...