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The Hanover Insurance Group THG Specialty Lines — Operating Income

Other segment segments

Personal Lines
$104.9M+82.8%
Core Commercial Lines
$77.5M-7.6%
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 specialty lines — operating income?
The Hanover Insurance Group (THG) reported specialty lines — operating income of $68.4M in Q2 2026.
How has The Hanover Insurance Group's specialty lines — operating income changed year-over-year?
The Hanover Insurance Group's specialty lines — operating income decreased by 3.9% year-over-year, from $71.2M to $68.4M.
What is the long-term trend for The Hanover Insurance Group's specialty lines — operating income?
Over 4 years (2021 to 2025), The Hanover Insurance Group's specialty lines — operating income has grown at a 22.4% compound annual growth rate (CAGR), from $131.9M to $296.1M.
What does specialty lines — operating income mean?
This is the primary measure of a segment's total profitability, combining underwriting results with net investment income. It provides a comprehensive view of the segment's contribution to the overall company's bottom line. Investors use this to evaluate the segment's ability to generate sustainable earnings through both insurance operations and asset management.

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