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Hanover Insurance discloses higher-than-expected Q4'19 noncat losses

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Hanover Insurance discloses higher-than-expected Q4'19 noncat losses

Hanover Insurance Group Inc. expects fourth quarter pretax noncatastrophe property losses to exceed expectations by approximately $20 million, which will be partially offset by lower-than-expected catastrophe losses.

Losses stemmed primarily from noncatastrophe weather activity in homeowners, as well as large property losses in commercial multiple peril and certain specialty lines, reported in its other commercial lines business.

Current accident year liability loss trends and overall prior-year reserve activity are anticipated to match expectations. The company expects its fourth quarter combined ratio to be in the range of 96.1% to 96.5%.