News & Events zu Hanover Insurance Group Inc (THG)THGHanover Insurance Group Inc

Hanover Reports Q2 Revenue of $1.73B

Reports Q2 revenue $1.73B, consensus $1.65B. "Our very successful second quarter is a testament to the strength of our business model, the durable earnings power we have built across The Hanover and the disciplined execution of our team," said John Roche, president and chief executive officer at The Hanover. "We posted operating return on equity of approximately 20% and operating earnings of $5.31 per share, both second quarter records, as well as accelerated top-line premium growth. We are effectively navigating evolving market conditions, and achieving healthy pricing, while building growth momentum in the most attractive areas of our portfolio."

Hanover Insurance CEO Plans to Retire in 2026

The Hanover Insurance Group announced that John "Jack" C. Roche, president and chief executive officer, has informed the company's Board of Directors he plans to retire on December 31, 2026, following a distinguished 40-year career in the insurance industry. Richard "Dick" W. Lavey, chief operating officer and president of Hanover Agency Markets, has been appointed by the board as CEO-elect and will work closely with Roche to ensure a successful transition. Lavey joined The Hanover in 2004 and held a series of executive leadership positions over his 22-year tenure. Currently, Lavey serves as chief operating officer where he directs the strategic transformation of the company's operating model, augmenting the partnership between its business and technology functions.

Hanover Insurance Approves $700M Share Repurchase

The Hanover Insurance Group announced its board of directors approved a new share repurchase authorization, pursuant to which the company may repurchase up to $700M of its common stock. At the same time, the company terminated its previous share repurchase program, which had a remaining repurchase authorization of approximately $63M.