WORCESTER, Mass. (AP) — Hanover Insurance Group Inc. said Monday its first-quarter profit fell 30 percent on smaller investment gains.

The company reported net income of $29.3 million, or 64 cents a share, for the three months ended March 31. That compares with net income of $41.8 million, or 87 cents a share, in the same period last year.

The results included a $3.3 million, or 7 cents per share, of net realized investment gains. The prior-year quarter included a gain of nearly $11 million.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Personal Lines
Commercial Lines
Personal Lines