The Hanover Insurance Group Estimates Impact from April Catastrophes of $70M to $85M

The Hanover Insurance Group THG today announced the estimated impact of catastrophe losses for the month of April 2011. The southern part of the U.S. experienced an unprecedented number of weather events during the month. In all, there were five catastrophes identified by Property Claim Services in April, the most significant being a storm system that produced a string of tornadoes and hail storms over six days during the last week of the month. This catastrophe event, according to PCS, may go down as the most destructive tornado event in eight decades. The Hanover currently estimates its pre-tax losses resulting from all catastrophe events in April of 2011 to be in the range of $70 to $85 million, or $1.00 to $1.22 per share after-tax, driven predominantly by storms that occurred between April 22 and 28, which affected our policyholders in Tennessee, Arkansas and other states.