The Hanover Insurance Group (THG) Investor presentation summary

Financial highlights and business mix

• Net premiums written reached $6.1B in 2024, with a 6% CAGR since 2005 and a diversified mix: Personal Lines 41%, Core Commercial 36%, Specialty 23%.

• Book value per share is $89.62, with total capital at $4.0B and market capitalization at $6.2B as of August 2025.

• Annual dividend per share is $3.60 (2.1% yield), and GAAP equity stands at $3.2B.

• Financial strength ratings are A (AM Best, S&P Global) and A2 (Moody's); senior debt rated bbb+/BBB/Baa2.

Strategic positioning and growth drivers

• Focused on sustainable competitive advantage in the independent agency market through robust product capabilities, analytics, and local underwriting.

• Specialized offerings in each segment: account-based Personal Lines, industry-focused Core Commercial, and lower-risk Specialty business.

• Agency relationships have deepened and broadened, driving growth, retention, and improved loss ratios.

• Positioned to capitalize on agency consolidation trends, expanding reach and capabilities.

Segment strategies and market opportunities

• Specialty targets small to mid-sized clients, nearly doubling written premium in 10 years, with a $45B market opportunity.

• Core Commercial leverages flexible underwriting and technology, focusing on middle market and small commercial growth within a $190B market.

• Personal Lines emphasizes whole account offerings, upmarket expansion, and digital platforms, targeting a $70B market.