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.
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