Hanover Insurance Reports Q2 Net Loss of $10.2 Million

The Hanover Insurance Group has reported a net loss of $10.2 million, or $0.20 per share, for the second quarter of 2008, compared to net income of $59.8 million, or $1.14 per share, for the same period of 2007.

Net income for the second quarter of 2008 included a net loss of $58.1 million, or $1.12 per share, from the results of discontinued operations, compared to $3 million, or $0.05 per share, in income in the prior-year quarter.

For the first six months of 2008, net income was $48.3 million, or $0.93 per share, compared to $123.4 million, or $2.37 per share, for the same period of 2007.

Frederick Eppinger, CEO of The Hanover Insurance Group, said: “Solid underwriting performance in our property and casualty business enabled us to withstand the losses resulting from high catastrophe activity observed industry wide in the second quarter.”