The Hanover Insurance Group, Inc. (NYSE:THG) released its third-quarter 2026 earnings press release on October 28, 2026, reporting net income of $172.6 million and an overall combined ratio of 92.3% for the three months ended September 30, 2026.

Key Highlights

  • Net income: $172.6 million, or $4.86 per diluted share, for Q3 2026, compared to $178.7 million, or $4.90 per diluted share, in the prior-year quarter.
  • Operating income: $183.1 million, or $5.15 per diluted share, compared to $185.6 million, or $5.09 per diluted share, in Q3 2025.
  • Combined ratio: 92.3% for the quarter; combined ratio excluding catastrophes was 85.5%.
  • Catastrophe losses: $109.7 million, representing 6.8 points of the combined ratio.
  • Net premiums written: $1,792.5 million, an increase of 3.1% from the prior-year quarter.
  • Net investment income: $131.9 million, up 12.7% from the prior-year quarter.
  • Book value per share: $99.69 as of September 30, 2026, down 5.4% from June 30, 2026.

Hanover Insurance Group Third Quarter 2026 Segment and Financial Results

According to the filing, The Hanover Insurance Group reported consolidated net premiums written of $1,792.5 million for the three months ended September 30, 2026, up 3.1% from $1,738.9 million in the same period of 2025. Net premiums earned were $1,611.5 million. The current accident year loss and LAE ratio, excluding catastrophes, was 55.7%, which the company disclosed was 1.9 points below the prior-year quarter. The expense ratio was 30.9%, compared to 31.3% in the prior-year quarter. Net and operating return on equity were reported as 19.4% and 18.7%, respectively, for Q3 2026.

The filing breaks out results by segment. Core Commercial net premiums written were $648.9 million, up 4.6% from the prior-year quarter, with renewal price increases averaging 7.4% and rate increases averaging 6.1%. The Core Commercial combined ratio was 100.5%, with catastrophe losses of $45.3 million, or 7.8 points of the combined ratio. Specialty net premiums written were $391.6 million, up 3.3%, with a combined ratio of 84.0%. Specialty operating income before income taxes was $88.1 million, compared to $78.2 million in Q3 2025. The Specialty segment reported net favorable prior-year reserve development, excluding catastrophes, of $14.8 million, or 4.0 points, according to the filing. For the nine months ended September 30, 2026, net premiums written totaled $5,009.0 million, up 3.6% from $4,833.5 million in the same period of 2025.

The filing also disclosed that the company repurchased approximately $86 million of stock during the quarter, totaling $263 million year-to-date through October 26. Ending shares outstanding were 34.5 million as of September 30, 2026, compared to 35.7 million a year earlier. Book value per share, excluding net unrealized depreciation on fixed maturity investments, net of tax, increased 2.7% from June 30, 2026, according to the filing.

What Was Disclosed

The Hanover Insurance Group disclosed its Q3 2026 financial results, including segment-level combined ratios, catastrophe losses, reserve development, net investment income growth, stock repurchase activity, and book value per share as of September 30, 2026.