Hanover Insurance Slips To Loss In Q1

(RTTNews) - Hanover Insurance Group Inc. (THG) reported a first-quarter net loss of $40.0 million, or $1.04 per basic share, compared to net income of $122.4 million or $2.97 per share, in the prior-year quarter.

Operating income was $86.8 million or $2.23 per share, up from $80.7 million or $1.96 per share, in the prior-year quarter.

Premiums earned were $1.14 billion, up from $1.10 billion in the prior year.

Total revenues declined to $1.06 billion from $1.22 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.03 per share and revenues of $1.15 billion. Analysts' estimates typically exclude special items.