(RTTNews) - The Hanover Insurance Group, Inc. (THG) Wednesday reported net income of $128.2 million, or $3.50 per share, in the first quarter of 2025, compared to $115.5 million, or $3.18 per share, in the prior-year quarter.
Operating income was $141.8 million, or $3.87 per share, in the first quarter of 2025, compared to $111.9 million, or $3.08 per share, in the prior-year quarter.
"We delivered excellent results in the first quarter, with a 17.2% operating return on equity despite significant U.S. industry catastrophe activity," said John C. Roche, president and chief executive officer at The Hanover. "Our performance in the quarter is a testament to the effectiveness of the catastrophe mitigation actions and the margin enhancement initiatives we have implemented over the past two years. As a result, we have continued to increase underwriting margins on an ex-CAT basis, as demonstrated by the 1.7-point improvement in our ex-CAT combined ratio, compared to the same period last year."
Net premiums earned for the first quarter rose to $1.508 billion from $1.448 billion last year.
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