The Hanover’s underwriting profits jump 70% in Q2 on lower cats as attritional claims rise
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The Hanover’s underwriting profits jump 70% in Q2 on lower cats as attritional claims rise

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The Hanover Group benefited from lower catastrophes in the second quarter, growing underwriting income by almost 70% to $63mn, as higher reserve releases also helped outweigh rising attritional loss activity with businesses across the US returning closer to normal operations.

The company’s $2.85 in operating income per share zoomed past the $2.40-per-share consensus analyst estimate.

The company reported a combined ratio of 94.4%,

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