NU Online News Service, Nov. 04, 12:08 p.m. EDT

Net written premiums for The Hanover Insurance Group were up 17 percent during the 2010 third quarter compared with the prior year period due to its implementation of a deal announced late last year with OneBeacon Insurance Group.

Hanover said its net income for the third quarter was $52.3 million compared to $49.7 million during the same quarter a year ago.

Frederick H. Eppinger, chief executive officer, said the company's strategic plan is working. He said Hanover's focus on "industry-focused niches and specialty line, geared toward Main Street business, have allowed [Hanover] to gain shelf space with winning agents without engaging in aggressive pricing behavior."

Last December OneBeacon sold the renewal rights to its non-specialty commercial lines business to Hanover. The transaction included small commercial accounts and the non-specialty portion of the middle-market business, beginning with a Jan. 1, 2010 effective date.

Third quarter commercial lines income was $35.1 million compared to $38.7 million last year during the same time as net premiums written was up 42.2 percent to $415.3 million.

Income in Hanover's personal lines business was up to $43 million in the third quarter compared to $27.4 million for the 2009 third quarter.

There was a 2.1 percent decline in net premiums written to $388.4 million in personal lines, driven by risk exposure reductions in Louisiana, Massachusetts and Michigan, Hanover said. The company closed two subsidiaries in Louisiana and shifted some policies to another insurer.

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