10-K · February 20, 2026
THG presents a diversified property & casualty portfolio with consolidated operating revenues of approximately $6.6 billion in 2025 and three balanced segments (Personal Lines $2.7B, Core Commercial $2.4B, Specialty…
Earnings analysis · 10-Q
THG earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
The Hanover Insurance Group reported a solid Q1 2026, with net income rising significantly to $186.8 million from $128.2 million year-over-year, primarily driven by improved underwriting results and increased net…
Read full summary
The Hanover Insurance Group reported a solid Q1 2026, with net income rising significantly to $186.8 million from $128.2 million year-over-year, primarily driven by improved underwriting results and increased net investment income. While revenue slightly missed expectations at $1.56 billion, the company also achieved an EPS of $5.25, exceeding analyst estimates of $4.20. Overall performance was bolstered by lower current accident year losses, although some segments faced challenges, particularly with changing weather patterns affecting certain claims.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $5.25
- Segment
- Core Commercial
- Segment
- Specialty
- Segment
- Personal Lines
- Segment
- Other
What stood out
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Strong Earnings Beat
Q1 2026 EPS reached $5.25, exceeding estimates of $4.20, representing a 25% surprise.
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Increasing Net Income
Net income rose to $186.8 million, up 46% from $128.2 million year-over-year.
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Cash Flow Improvement
Operating cash flow was $118.8 million, compared to $38.9 million in Q1 2025.
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Segment Growth in Core Commercial
Core Commercial premiums written increased by 4.3% to $630.4 million.
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Lower Catastrophe Losses
Catastrophe losses for Q1 totaled $98.9 million, relatively stable compared to previous periods.
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Increased Net Premiums Written
Total net premiums written increased by $48.9 million year-over-year.
What to watch
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Catastrophe Loss Risks
Catastrophe losses increased to $98.9 million in Q1 2026 from $95.6 million in Q1 2025.
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Regulatory Challenges
Ongoing regulatory scrutiny may impose limitations on premium adjustments.
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Market Volatility
Potential adverse effects from market volatility impacting investment portfolio values.
Management's outlook
No specific numeric guidance provided; outlook discussed generally.
Earlier filings 4
10-Q · July 31, 2025
THG reported a strong quarter: total revenues rose to $1,654.4 million (Q2 2025) from $1,536.7 million (Q2 2024) and net income increased to $157.1 million (Q2 2025) from $40.5 million (Q2 2024), driving diluted EPS to…
10-Q · May 1, 2025
THG reported sequentially stronger underlying underwriting and investment results for the quarter: total revenues rose to $1,603.2 million and net income increased to $128.2 million (diluted EPS $3.50) for the three…
10-K · February 24, 2025
THG (Hanover) presents a diversified P&C franchise with three balanced businesses: Personal Lines ($2.6 billion; 40.6% of consolidated operating revenues), Core Commercial ($2.3 billion; 36.8%), and Specialty ($1.4…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.