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Hanover news from Insurance Insider US

Regional insurers arrive at another 'crossroads' moment

Regionals may be particularly vulnerable to problematic loss cost trends and volatile cat losses.

Amit Kumar, August 05, 2024

The Hanover out ahead in dealing with challenging liability trends: CEO Roche

The executive said the company remains optimistic about small commercial, where NWP grew 8.5% in Q2.

Danielle Ling, August 01, 2024

Q2 earnings roundup July 31: AIG, Markel, Everest, The Hanover

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, July 31, 2024

The Hanover books estimated $157.1mn in pre-tax cat losses

The losses primarily resulted from severe convective storm activity.

Shelby Rosenberg, July 18, 2024

The Hanover's reduced property exposure, price increases back strong Q1 results: CEO Roche

Roche said the company's deliberate efforts to limit exposure in the Midwest offset loss trends.

Danielle Ling, May 02, 2024

Q1 earnings roundup May 1: AIG, Axis, Markel, Skyward, Hanover

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, May 01, 2024

Reserving questions lead to insurance stock rout

Markel, Axis and Selective booked sizeable reserve charges in their liability segments.

Shelby Rosenberg, February 01, 2024

Q4 earnings roundup January 31: Axis, Markel, The Hanover, Selective

Insurance Insider US runs you through the earnings results for the day.

Insurance Insider US news team, January 31, 2024

The Hanover taps Rona as president of technology and life sciences

She joined The Hanover in 2015 and since 2018 has served as CUO of technology and life sciences underwriting.

Hal Stucker, January 04, 2024

The Hanover names Marohn president of specialty P&C

Marohn will lead the company's E&S business, specialty industrial business, Hanover Programs, specialty general liability and Hanover Specialty Insurance Brokers.

Shelby Rosenberg, November 20, 2023

The Hanover reducing property exposure in the Midwest: CEO

Its Q3 cat losses of $196mn primarily resulted from severe convective storms in the region, and drove the overall combined ratio to come at 104.4%.

Kyoung-son Song, November 02, 2023

Q3 earnings roundup November 1: AIG, Axis, Markel, The Hanover, RenRe, Root, Allstate and more

The Inside P&C news team runs you through the earnings results for the day.

Insurance Insider US news team, November 01, 2023

Carriers see no respite from convective storm losses in Q3

A clear commonality is already emerging much as it did in the previous quarter, when severe convective storms – particularly hail – also dominated.

Shelby Rosenberg, October 26, 2023

The Hanover pre-announces $198.5mn in cat losses, driven by US storms

The carrier’s cat loss estimate for Q3 2023 is more than twice Q3 2022’s $90.1mn, which included $28mn attributable to Hurricane Ian.

Kyoung-son Song, October 18, 2023

Need to Know: Alkeme, Accelerant, HNW

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Insurance Insider US news team, September 14, 2023

E&S is the 'path forward for the future' for the HNW space: PRMA panel

The migration is due to admitted carriers not being able to get the rate filings approved in a lot of the states – an issue that is extending beyond California and Florida, to the east coast.

Kyoung-son Song, September 13, 2023

The Hanover names Hamann president of small commercial

Hamann previously served as the company's deputy president and CUO of small commercial.

Shelby Rosenberg, August 17, 2023

Q2 pricing overview: Personal auto and D&O black spots in extended pricing cycle

Executives have pointed out that it is becoming increasingly difficult to talk about broader trends as micro-cycles are developing for each line.

Thorsten Schier, August 08, 2023

The Hanover tightens terms and conditions as hail batters personal lines: CEO Roche

These changes include increasing all payroll deductibles to specific minimum levels by coverage A limit, adding wind and hail deductibles in multiple states and transitioning to an ACV schedule for roofs as the standard offering.

Shelby Rosenberg, August 03, 2023

Need to Know: Cyber, Q2 earnings, Brown & Brown

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Insurance Insider US news team, August 03, 2023

Q2 earnings roundup August 2: Markel, Root, Lemonade, SiriusPoint, The Hanover and more

The Inside P&C news team runs you through the earnings results for the day.

Insurance Insider US news team, August 02, 2023

Cat losses dominate early Q2 reporting, with reinsurance, convective storms and rates in focus

Q2 cat losses reported by most carriers were significantly higher than a year ago owing to the number of US convective storms and likely higher carrier retentions at reinsurance renewals.

Thorsten Schier, July 25, 2023

The Hanover estimates Q2 cat losses of $262mn, CoR of 111.3%

Losses stemmed from 19 convective storms across multiple states, with hail damage representing the majority of reported losses, primarily impacting the personal lines segment.

Thorsten Schier, July 20, 2023

The Week in Brief: Hub’s valuation, RIMS, broker analysis, regionals catching up

Inside P&C’s news team runs you through the key highlights of the week.

Thorsten Schier, May 05, 2023

Need to Know: Week in Brief, AIG Q1, Ryan Q1

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Thorsten Schier, May 05, 2023

Competitor news

Progressive’s Helene property losses under $200mn retention threshold

The company incurred $563mn of total cat losses related to the storm.

Caroline Ryan, October 15, 2024

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Progressive remains committed to Florida: Commissioner Yaworsky

It had planned to non-renew 47,000 DP-3 and 53,000 high-risk homeowners’ policies this year.

Kyoung-son Song, August 12, 2024

Where do insurance companies stand if a US recession hits?

The industry could weather a recession, unless loss costs and reserving pressures worsen.

Amit Kumar, August 07, 2024

Kinsale stock spikes 17.5% as CEO Kehoe touts growth across book

The Hartford and Aon also posted notable, though more muted, stock bumps.

Shelby Rosenberg, July 26, 2024

The Hartford seeing ‘modest margin contraction’ in workers’ comp: CEO Swift

The contraction so far this year is in line with the executive’s expectations.

Kyoung-son Song, July 26, 2024

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Daily Digest: Top news from July 26

A roundup of today’s need-to-know news, including Commissioner Lara’s FAIR plan reforms.

Insurance Insider US news team, July 26, 2024

Q2 earnings roundup July 25: The Hartford, Kinsale, Gallagher, CinFin, Universal

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, July 25, 2024

Daily Digest: Top news from July 16

A quick roundup of today’s need-to-know news.

Insurance Insider US news team, July 16, 2024

Daily Digest: Top news from July 10

A roundup of today’s need-to-know news, including leadership changes at Chubb.

Insurance Insider US news team, July 10, 2024

The Hartford names Bassett global CUO following Fisher retirement

Michael Fish will become head of group benefits after Jonathan Bennett’s retirement.

Samuel Casey, July 10, 2024

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H1 stock prices, short interest shifts cast doubt on cycle longevity

Investor skepticism visible in stock prices and short interest data over first half of 2024.

Amit Kumar, July 02, 2024

Severe thunderstorm lowering cloud threatens tornado

Progressive books $722mn cat loss for May from Texas, Midwest storms

The losses added 12.3 points to the firm's 100.4% CoR.

Kyoung-son Song, June 14, 2024

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Invested asset review 2023: Mapping the shift in investment strategies

Changes in investment strategy and strong results show carriers can weather financial storms.

Insurance Insider US Research, May 23, 2024

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Small commercial E&S binding could grow 50% in 2024: The Hartford’s Swift

The carrier is also targeting E&S growth in property brokerage and global specialty.

Shelby Rosenberg, April 26, 2024

Q1 earnings roundup April 25: Gallagher, Kinsale, CinFin

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, April 25, 2024

Progressive’s March underlying CoR drops 3.7 points to 80.9%

The CoR for homeowners’ insurance rose to 95.4% from 75.8% in February.

Shelby Rosenberg, April 12, 2024

Progressive’s February underlying CoR drops 2.1 points to 84.6%

The homeowners' CoR fell over 32 points sequentially to 75.8%.

Hal Stucker, March 15, 2024

Workers' comp rate declines narrowing amid medical inflation, regulatory concerns

Carriers expressed confidence on the line’s ability to withstand medical inflation.

Shelby Rosenberg, February 28, 2024

Stable rates ‘key for us’ in 2024: Progressive CEO Griffith

The carrier also plans to ramp up media spend.

Shelby Rosenberg, February 27, 2024

Progressive grew net premium for personal lines by 24% last year

Personal auto rates increased 19% during the year.

Kyoung-son Song, February 26, 2024

Progressive’s January underlying CoR up sequentially by 3 points to 86.7%

The homeowners’ CoR worsened 39 points sequentially to 107.9%.

Shelby Rosenberg, February 14, 2024

The casualty loss reserve elephant in the room

Commercial carrier earnings continue to show mixed prior-year development.

Amit Kumar, Maria Lamberton, Husain Rupawala, February 06, 2024

The Hartford posts pricing bumps in commercial property, personal auto

Commercial property pricing rose 11%, while personal auto grew 21.9%.

Shelby Rosenberg, February 02, 2024

Q4 earnings roundup February 1: The Hartford, Kemper

Insurance Insider US runs you through the earnings results for the day.

Insurance Insider US news team, February 01, 2024

The Hartford to cease writing CA homeowners’ policies beginning in February

The insurer said it will continue to renew existing homeowners’ business.

Kyoung-son Song, January 24, 2024

Insider On Air: Our Webinars & Podcast Channel

Webinars

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In Partnership With Guidewire

Insurers Evolving to Risk Mitigation to Reduce Costs

Join Insurance Insider, in partnership with Guidewire, for a free webinar, 10:30 ET/15:30 GMT Dec. 3

October 02, 2024

Insider On Air

In Partnership With Moody's

How Insurers Are Harnessing Gen AI to Improve Risk Selection

Join Insurance Insider, in partnership with Moody’s, for a free webinar, 10:30 ET/15:30 GMT on December 4

July 04, 2024

Podcasts

Behind the Headlines Podcast

Behind the Headlines: Ian Gormley on the key takeaways from RIMS, and BMS expansion plans in 2024

Listen in as BMS UK CEO Ian Gormley shares key takeaways from RIMS, changing dynamics in the property E&S market, and BMS expansion plans in 2024.

May 23, 2024

Behind the Headlines: Rating conditions gear-shift and Inigo's Watson & Kaye on its next phase of growth

Listen in as Inigo CEO Richard Watson and head of reinsurance Alice Kaye discuss the use of data and AI in underwriting, the possibilities of entering the casualty treaty market, and all options being on the table for future capital events.

May 09, 2024

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Behind the Headlines: Israel escalation and Convex's Paul Brand on building and running a $4bn (re)insurer

Listen in as Convex CEO Paul Brand discusses building and running a $4bn (re)insurer. Also in this episode, Insurance Insider's Rachel Dalton provides an update on Dubai flooding and reinsurance coverage in the Middle East.

April 25, 2024

Behind the Headlines: 1.4 recap and Howden Re's Sandy Warne on political violence in a 'world on fire'

In this episode Insurance Insider lead reporter Rachel Dalton runs down the key highlights of the 1.4 reinsurance renewals as capacity returned to the market.

April 11, 2024

From our other titles

Enstar to be taken private by shareholder Sixth Street in $5.1bn deal

The deal values the business just under its closing price on Friday, at 0.97x book value.

Adam McNestrie, July 29, 2024

Aspen promotes Dunleavy to president and Pickering to group CFO

The new leadership structure is designed to create more accountable executive roles responsive to Aspen’s strategy.

Samuel Casey, July 29, 2024

Chubb adds $1.7bn US cat top layer to treaty

The insurer also pushed up its retention by $650mn.

Fiona Robertson, July 29, 2024

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