NYSE:THGInsurance
Hanover (THG) Stock Climbs On Underwriting Strength As Casualty Risks Linger
Hanover Insurance Group stock jumped 3.7% to about US$232 after its Q2 release, a quick reward for investors who had been pricing in a solid but unspectacular insurer. The headline was clean and simple. Hanover delivered operating earnings power with basic EPS a little above US$5.40 and a reported combined ratio near the low 90s that many peers would envy. Record Q2 operating return on equity around 20% turned the usual cautious insurance thesis on its head. The market moved first. The...