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The Hanover Insurance Group THG Core Commercial Lines — Operating Income

Other segment segments

Personal Lines
$104.9M+82.8%
Specialty Lines
$68.4M-3.9%
All Other Segments
$1.1M+142%

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Other financials

Income statement

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Revenue$1.7B+4.3%
Operating income$251.9M+20.0%
Net income$191.6M+22.0%
EPS (diluted)$5.38+25.1%

Balance sheet

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Cash & equivalents$266.1M+9.0%
Total debt$844.0M+7.6%
Total equity$3.7B+14.2%
Total assets$16.9B+7.2%

Cash flow

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Operating cash flow$212.3M+2.8%
CapEx$2.9M+70.6%
Free cash flow$209.4M+2.2%

Valuation

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Market cap$7.98B+28.5%
Enterprise value$8.56B+26.8%
P/E10.6×-0.6×
P/S1.2×+0.2×

Profitability

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Operating margin14.2%
Net margin11.2%+2.5pp
FCF margin18.5%+5.3pp

Returns & leverage

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Return on equity21.9%+2.7pp
Debt / equity0.2×0.0×

Where this comes from

Reported directly by The Hanover Insurance Group in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: The Hanover Insurance Group’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 5:02 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000944695-26-000014
(in millions)Three Months Ended / Core CommercialThree Months Ended / SpecialtyThree Months Ended / Personal LinesThree Months Ended / OtherThree Months Ended / Total
Net investment income55.327.233.33.8119.6
Fees and other income1.31.23.76.2
Other segment items(2)(2.3)(2.2)(1.5)(2.7)(8.7)
Operating income before interest expense and income taxes$$77.5$68.4$104.91.1251.9
Interest on debt(10.1)
Operating income before income taxes241.8
Non-operating income (loss) items:
Net realized and unrealized investment gains2.8

ITEM 1 - FINANCIAL STATEMENTS

FAQ

What is The Hanover Insurance Group's core commercial lines — operating income?
The Hanover Insurance Group (THG) reported core commercial lines — operating income of $77.5M in Q2 2026.
How has The Hanover Insurance Group's core commercial lines — operating income changed year-over-year?
The Hanover Insurance Group's core commercial lines — operating income decreased by 7.6% year-over-year, from $83.9M to $77.5M.
What is the long-term trend for The Hanover Insurance Group's core commercial lines — operating income?
Over 3 years (2021 to 2025), The Hanover Insurance Group's core commercial lines — operating income has grown at a 22.1% compound annual growth rate (CAGR), from $138M to $250.9M.
What does core commercial lines — operating income mean?
This is the total profitability of the commercial lines segment, combining underwriting results with net investment income. It provides a comprehensive view of the segment's contribution to the company's overall earnings. This metric is essential for evaluating the total economic value generated by the segment's insurance and capital management activities.

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