The Hanover Insurance Group (THG) AGM 2025 summary

Opening remarks and agenda

• Meeting commenced with introductions of board members and confirmation of proper notice and quorum.

• Three proposals set for voting: election of directors, advisory vote on executive compensation, and ratification of the independent auditor.

Board and executive committee updates

• Recognition of retiring Corporate Secretary Chuck Cronin for nearly 30 years of service, highlighting his contributions to governance and company operations.

Financial performance review

• Achieved record operating income of $485.9 million and record net return on equity of 16.1% for 2024.

• Net premiums written reached $6.1 billion, with net investment income up 12.2% to $372.6 million.

• Book value per share increased by 14.9% to $79.18; quarterly dividend raised by 5.9%, marking 20 consecutive years of increases.

• Positive momentum continued into 2025, with net premiums written up 3.9% in Q1 and strong renewal price increases across segments.

• Underwriting performance improved, with ex-CAT combined ratio at 87.8% and net investment income up 18.3% in Q1 2025.