UPDATE 1-Hanover Insurance posts Q3 loss

Thu Oct 30, 2008 5:42pm EDT
 
[-] Text [+]

* Q3 loss/shr $1.21

* Property & casualty pre-tax segment income falls 84 pct

Oct 30 (Reuters) - Insurance holding company Hanover Insurance Group Inc (THG.N) posted a quarterly net loss, hurt by a slump in property and casualty income and investment losses.

The company reported third-quarter net loss of $61.8 million, or $1.21 a share, compared with a profit of $53.9 million, or $1.03 a share, a year earlier. [ID:nWNAB5435]

Net loss included net realized investment losses of $52.8 million, or $1.04 per share. Total property & casualty pre-tax segment income slumped 84 percent to $13.8 million, hurt by catastrophe losses. [ID:nPnNETH094]

Shares of the company closed down 1 percent at $35.70 Thursday on the New York Stock Exchange. (Reporting by Supantha Mukherjee in Bangalore; Editing by Deepak Kannan)

 
Join the Reuters Consumer Insight Panel and help us get to know you better

Join the Reuters Consumer Insight Panel and help us get to know you better