The Hanover Insurance Group, Inc.
hanover.comWhat Do They Do?
Provides property and casualty insurance for small and mid-sized businesses and individuals, including coverage for homes and automobiles.
10-K for FY2025, filed Feb 20, 2026The Hanover Insurance Group, Inc. (“THG” or the “Company”) is a holding company organized as a Delaware corporation in 1995. We trace our…View ↗
Our Core Commercial product suite provides agents and customers with products designed for small and mid-sized businesses. Small commercial…View ↗
Specialty offers a comprehensive suite of products focused predominately on small to mid-sized businesses. This includes numerous…View ↗
Personal automobile coverage insures individuals against losses incurred from personal bodily injury, bodily injury to third parties…View ↗
How Do They Make Money?
-
10-K for FY2025, filed Feb 20, 2026
FY2025 revenue by reportable segment (Net investment income) ↗
$6.6B
-
10-K for FY2025, filed Feb 20, 2026
$6.6B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Core Commercial
|
45%
FY2022: 46%
|
Core Commercial, FY2025
$202.5M Sources
|
|
Specialty
|
23%
FY2022: 21%
|
Specialty, FY2025
$102.6M Sources
|
|
Personal Lines
|
28%
FY2022: 29%
|
Personal Lines, FY2025
$128.5M Sources
|
|
Other
|
4.6%
FY2022: 3.8%
|
Other, FY2025
$20.8M Sources
|
Who Are Their Customers?
Small and mid-sized businesses and individuals buy business and personal insurance through independent agents and brokers; some Specialty coverage also goes through managing general agents or wholesale distributors.
10-K for FY2025, filed Feb 20, 2026Our Core Commercial product suite provides agents and customers with products designed for small and mid-sized businesses. Small commercial…View ↗
Specialty offers a comprehensive suite of products focused predominately on small to mid-sized businesses. This includes numerous…View ↗
Personal automobile coverage insures individuals against losses incurred from personal bodily injury, bodily injury to third parties…View ↗
Independent agents account for substantially all of the sales of our Core Commercial and Personal Lines property and casualty products, and…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 10 cents of every revenue dollar as net income in FY2025 and turned 18 cents into free cash flow.
10-K for FY2025, filed Feb 20, 2026
$933MView ↗
10-K for FY2025, filed Feb 20, 2026
$662.5MView ↗
10-K for FY2025, filed Feb 20, 2026
$1.2BView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Jul 29, 2026
$191.6MView ↗
- ▲ +22%
- vs $157.1M in Q2 FY2025
10-Q for Q2 FY2026, filed Jul 29, 2026
Open tableView ↗
-
Jul 15, 2026
CEO John C. Roche to retire; Richard W. Lavey named CEO-elect
Lavey is intended to become CEO when Roche retires.
Sources
8-K, filed Jul 15, 2026
On July 15, 2026, The Hanover Insurance Group, Inc. (the “Company”) announced that John C. Roche, its current President and Chief Executive…View ↗
Growing. Revenue grew 26% in 4 years, from $5.2B in FY2021 to $6.6B in FY2025, about 6% a year.
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