Operating income for the second quarter ended 30 June 2014 was $58.4m or $1.30 per share, against $46.8m or $1.05 per share, for the corresponding period last fiscal.
Net premiums grew by 2.7% to $1.28bn during the second quarter, driven by growth in Chaucer and Commercial Lines.
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Commenting on the results, Hanover president and CEO Frederick Eppinger said: "We are very pleased with our second quarter results that produced an annualized operating ROE of 9.7%.
"The overall underlying combined ratio improved by 1 point, driven by solid underwriting improvement in domestic businesses, and continued strong results at Chaucer. Book value per share increased to $63.65, up over 7% year-to-date.
For the second quarter period, the commercial lines operating income before taxes stood at $44.2m, against $26.2m during the year ago quarter.
Personal Lines operating income before taxes was $22.7m for the second quarter period, versus $19.9m during the comparable period earlier year.
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By GlobalDataThe Hanover’s specialist insurance business, Chaucer’s operating income before taxes stood at $38.1m in the second quarter, compared to $36.9m during the same period last year.
