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Hanover Insurance expects $50M pretax impact from catastrophes on Q4'18 results

Hanover Insurance Group Inc. estimated catastrophe activity to impact its operating results in the fourth quarter of 2018 by about $50 million before taxes.

Losses stemmed primarily from the Camp and Woolsey wildfires in California and Hurricane Michael.

Also, higher-than-expected current accident year losses will have an impact on Hanover Insurance's operating results. The losses were driven by elevated property activity, partially caused by large losses and noncatastrophe weather, as well as increases in auto bodily injury loss severity.

The company anticipates its combined ratio for the fourth quarter of 2018 to be about 97.4% to 97.8%, bringing the full-year 2018 combined ratio to about 96.2% and 91%, excluding catastrophes.