The Hanover Q2: Leaning into the specialty pivot
The second-quarter earnings season is turning out to be a game of whack-a-mole. One day you are whacking the commercial lines margin contraction discussion. Another day it’s macro concerns. Then it’s back to auto loss-cost trends.
This seesawing has resulted in a commensurate move in stock prices. It started with Truist and Travelers, swung back with Chubb, and then again with The Hartford.
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