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The Hanover posts record Q2 income as underwriting margin improves
Hanover reported net premiums written of $1.66 billion in Q2 2026, up 4.6%, and said its combined ratio improved to 91.2% from 92.4% for the wider US P&C benchmark.
The Hanover Insurance Group reported record second-quarter 2026 net income of $191.6 million, alongside a consolidated combined ratio of 91.2%, as underwriting margins improved across its business segments. The insurer said earnings were $5.38 per diluted share for the three months ended June 30, 2026, versus $157.1 million, or $4.30 per diluted share, a year earlier.
Net premiums written grew 4.6% to $1.66 billion. Hanover’s 91.2% Q2 combined ratio beat the US property and casualty industry benchmark of 92.4% in Q1 2026, cited using data from Verisk and the American Property Casualty Insurance Association.
Operating income rose to $189.2 million, or $5.31 per diluted share, with net and operating return on equity of 21.2% and 19.8%, respectively. Insurance Business also noted that net investment income increased 13.4% to $119.6 million, as the pre-tax earned yield on fixed maturities moved up to 4.45% from 4.24% in the prior year period.
In catastrophe results, Hanover reported losses totaling $91.8 million, or 5.7 points of the combined ratio, down from seven points a year earlier. The insurer said personal lines drove the strongest segment improvement, with its combined ratio improving to 88.9% from 95.5%, supported by renewal price increases averaging 8.7%.