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Hanover Insurance Beats Estimates

Property and casualty insurer Hanover Insurance Group Inc posted a quarterly profit above Wall Street estimates for the third time on the trot, helped by lower catastrophe losses and firming insurance rates.

By Reuters | Updated on May 01, 2012

(Reuters) – Property and casualty insurer Hanover Insurance Group Inc posted a quarterly profit above Wall Street estimates for the third time on the trot, helped by lower catastrophe losses and firming insurance rates.

Catastrophe losses fell to $40.6 million for the first quarter from $49.7 million in the year-ago period, which witnessed severe winter weather in the United States and devastating earthquakes in the Asia-Pacific region.

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