Hanover Insurance names interim CFO; income up in 3rd quarter

Write a Comment

Worcester-based Hanover Insurance had its third quarter income shoot up compared to the previous year and has brought in a former executive, Eugene M. Bullis, as interim CFO. He takes over the role from CFO David B. Greenfield, who died earlier this month.

The company made the announcement Wednesday while reporting third-quarter financial results. Hanover had third-quarter net income of $78.3 million, up from $54.9 million in the third quarter of 2013. Operating income for the company was at $1.61 per share compared to $1.06 in the third quarter of 2014. This was helped by lower catastrophe losses, according to CEO Frederick Eppinger.

“I would like to express our deep gratitude to all who reached out to us with condolences and support as we grieve the passing of our dear colleague and friend, David Greenfield,” Eppinger said in a statement. “David made a lasting mark on our company and on many of us personally, and we will continue to carry on his legacy.”

Bullis was CFO and executive vice president of the company from 2007 to 2010. He has served on public and private company boards since leaving Hanover five years ago, the statement said. Prior to joining Hanover, Bullis was CFO of CNO Financial Group Inc. (formerly known as Conseco, Inc.) and Wang Laboratories Inc., among others.