The Hanover Net Income Dips 17% in 1st Quarter

The Hanover Insurance Group on Tuesday reported net income of $54.6 million in the first quarter, down 17.5% from the $66.2 million in profits reported in the first quarter of 2013.Net premiums written increased to $1.17 billion in the first quarter of 2014, from $1.08 billion in the prior-year quarter. For commercial lines, which includes workers' comp, The Hanover reported net written premium of $539.3 million, up from $483.6 million in the first quarter of 2013.The combined ratio for commercial lines increased to 104% from 100.5% in the prior-year quarter. "The confidence we have in our...