May 3, 2021
Hanover Insurance Group profited $92.7M in first quarter
Photo | Grant Welker
The Hanover Insurance Group's Worcester headquarters
The Hanover Insurance Group, Inc. of Worcester reported $92.7 million in profits during the company’s first quarter, according to an earnings report released Friday.
That’s a dip from the company’s final quarter of 2020, when it reported a net income of $164.6 million, a decrease of 44%.
However, profits were up tremendously compared to the first quarter of 2020, when The Hanover reported a $40-million net loss, a difference of 332%.
"We are very pleased with our strong financial performance in the first quarter, in light of the unprecedented catastrophe activity," said John Roche, president and CEO at The Hanover, in a statement.
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