Hanover Insurance Posts Preliminary Estimate For Q3 Catastrophe Losses

(RTTNews) - The Hanover Insurance Group, Inc. (THG) said the midpoint its preliminary estimate for third quarter catastrophe losses is approximately $97 million above the pre-tax third quarter catastrophe load, driven primarily by the effects of Hurricane Ida. Estimated losses from the storm are approximately $75 million, before taxes.

Based on information available to date, the company's preliminary estimate for third quarter catastrophe losses, are in the range of $150 million to $165 million before taxes, or $119 million to $130 million after taxes.

"Catastrophes aside, we expect our third quarter results to reflect our strong underlying performance, highlighting our distinctive market position, as well as our proven underwriting, pricing and risk management expertise," said John Roche, CEO.

The company expects to issue its third quarter results after the market closes on October 27.