The Hanover Estimates Q2 Catastrophe Losses Of $157.1M And Expects To Generate After-Tax Net Income Of $1.12 Per Diluted Share And Operating Income Of $1.88 Per Diluted Share In Q2

Author: Benzinga Newsdesk | July 18, 2024 04:20pm

Taking catastrophe loss estimates and other currently available information into account, the company expects to report a second quarter combined ratio of 99.2%, and an ex-CAT combined ratio(2) of 88.5%. The company also expects to generate after-tax net income of $1.12 per diluted share and operating income(3)  of $1.88 per diluted share for the second quarter. The difference between net income and operating income per share is due to the sale of some lower coupon fixed income securities, in consideration of expiring tax gains from 2021.   

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