The Hanover Insurance Group Reports Fourth Quarter and Full Year 2010 Results

The Hanover Insurance Group, Inc. THG today reported fourth quarter and full year 2010 results. "Our fourth quarter results reflect a continuation of the positive trends we saw during 2010," said Frederick H. Eppinger, chief executive officer at The Hanover. "Our ex-catastrophe accident year loss ratio improved by 3 points compared to the prior-year quarter, and we grew ex-catastrophe P&C earnings by 20%, all while achieving significant net written premium growth. "Our differentiated partner agency strategy allows us to improve margins while growing at rates above industry averages," Eppinger said. "In 2010, for the first time in our nearly 160-year history, our written premium volume passed the $3 billion mark, driven by the success of our renewal rights transaction and strong growth in specialty commercial lines. This was also the first year our commercial premiums accounted for more than half of our business overall, reflecting the success of our diversification efforts. "We closed the year with a book value per share of $54.74, an increase of 10% from December 2009, as we continue to build value for our shareholders," he said.