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The Hanover Net Income Slides 30% in 1st Quarter

By Jim Sams (Senior Editor)

Wednesday, May 4, 2011 | 0

The Hanover Insurance Group's net income slipped by a quarter and net premium revenue dipped slightly during the first quarter of 2011, according to financial results announced Tuesday.The Hanover reported net income of $29.3 million in the quarter, down from $41.8 million in the first quarter of 2010. Net written premiums declined to $749.9 million from $725.2 million in the previous year quarter.Pre-tax income from commercial lines, which includes workers' comp, dropped to $18.4 million in the 2011 first quarter, compared to $22.8 million in the first quarter last year. But the comme...

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