HANOVER INSURANCE GROUP, INC.

THG 10-Q · Q1 2026

THG Q1 2026 request

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Income Statement

Income Statement
Metric Q1 2026 Q1 2025 YoY
Premiums Earned Net 1,570.6 1,508.5 +4.1%
Show Business Segments breakouts
Core Commercial [Member] 563.8 541 +4.2%
Personal Lines [Member] 646.9 627.9 +3.0%
Specialty [Member] 359.9 339.6 +6.0%
Net Investment Income 126.9 106.1 +19.6%
Show Business Segments breakouts
All Other Segments 4.7 3.3 +42.4%
Core Commercial [Member] 58.3 48 +21.5%
Personal Lines [Member] 35.2 30.5 +15.4%
Specialty [Member] 28.7 24.3 +18.1%
Realized Investment Gains Losses -4.9 -18.8 +73.9%
Show Equity Components breakouts
Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income -5.6 -18.8 +70.2%
Equity Securities F V- N I Unrealized Gain Loss And Other 4.6 1 +360.0%
Credit Related Recoveries Impairments -1.6
Gain Losses On Intent To Sell Securities -0.4
Impairments On Investments -2
Show Investment Type breakouts
Fixed Maturities -0.5
Mortgages -1.5
Gain Loss On Investments From Continuing Operations -2.3 -17.8 +87.1%
Fees Commissions And Other Income 6.2 6.4 -3.1%
Show Business Segments breakouts
Core Commercial [Member] 1.4 1.3 +7.7%
Personal Lines [Member] 3.6 3.7 -2.7%
Specialty [Member] 1.2 1.3 -7.7%
Revenue 1,701.4 1,603.2 +6.1%
Policyholder Benefits And Claims Incurred Net 957.6 955.3 +0.2%
Show Business Segments breakouts
Core Commercial [Member] 360 378.9 -5.0%
Personal Lines [Member] 425.4 404.3 +5.2%
Specialty [Member] 172.2 172.1 +0.1%
Deferred Policy Acquisition Cost Amortization Expense 333.2 313.9 +6.1%
Interest Expense Debt 10.8 8.5 +27.1%
Other Cost And Expense Operating 162.7 165.4 -1.6%
Benefits Losses And Expenses 1,464.3 1,443.1 +1.5%
Income Before Taxes 237.1 160.1 +48.1%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income 1.7 1.7 0.0%
Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income -6.1 -18.7 +67.4%
Current Income Tax Expense Benefit 51.6 30 +72.0%
Deferred Income Taxes -1.3 1.9 -168.4%
Income Tax Expense (Benefit) 50.3 31.9 +57.7%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income -0.3 -0.3 0.0%
Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income -1.4 -4.3 +67.4%
Net change in market risk · Reclassification Out Of Accumulated Other Comprehensive Income 0.1 0.1 0.0%
Net Income 186.8 128.2 +45.7%
Show Equity Components breakouts
Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income -4.9 -14.6 +66.4%
Retained Earnings 186.8 128.2 +45.7%
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts
Reclassification Out Of Accumulated Other Comprehensive Income -6.1 -15.8 +61.4%
EPS (Basic) 5.3 3.56 +48.9%
Wtd Avg Shares (Basic) 35.2 36 -2.2%
EPS (Diluted) 5.2 3.5 +48.6%
Wtd Avg Shares (Diluted) 35.9 36.6 -1.9%
Operating Income 250.2 186.4 +34.2%
Show Business Segments breakouts
All Other Segments 2.2 0.8 +175.0%
Core Commercial [Member] 74.8 26.8 +179.1%
Personal Lines [Member] 89.2 94.2 -5.3%
Specialty [Member] 84 64.6 +30.0%
Comprehensive Income 120.3 239.8 -49.8%
Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1 957.6 955.3 +0.2%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 243.5 315.1 -22.7%
Non-Current Assets
Deferred Tax Assets 102.3 141.9 -27.9%
Goodwill 178.8 178.8 0.0%
Total Assets 16,527.7 15,470.3 +6.8%
Show Property Plant And Equipment By Type breakouts
Property and Casualty [Member] 16,444.4 15,384.6 +6.9%
Other Assets
Available For Sale Securities Debt Securities 9,976.2 8,808.3 +13.3%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Fair Value Measurements Recurring 324.4 358.7 -9.6%
Fair Value Inputs Level1 · US Treasury And Government 324.4 358.7 -9.6%
Fair Value Inputs Level2 · Commercial Mortgage Backed Securities 850.1 399.5 +112.8%
Fair Value Inputs Level2 · Corporate Debt Securities 4,348.1 3,938.8 +10.4%
Fair Value Inputs Level2 · Fair Value Measurements Recurring 9,639.9 8,436.9 +14.3%
Fair Value Inputs Level2 · Foreign Government Debt Securities 2.9 2.4 +20.8%
Fair Value Inputs Level2 · Mortgage Backed Securities Issued By Private Enterprises 482.6 318.4 +51.6%
Fair Value Inputs Level2 · Mortgage Backed Securities Issued By US Government Sponsored Enterprises 1,841.7 1,944.6 -5.3%
Fair Value Inputs Level2 · Municipal Bonds 886.1 876.3 +1.1%
Fair Value Inputs Level2 · Other Asset-Backed [Member] 1,114.1 822.9 +35.4%
Fair Value Inputs Level2 · US Treasury And Government 114.3 134 -14.7%
Fair Value Inputs Level3 · Commercial Mortgage Backed Securities 4.8 5.1 -5.9%
Fair Value Inputs Level3 · Commercial Mortgage Backed Securities 4.8 5.1 -5.9%
Fair Value Inputs Level3 · Fair Value Measurements Recurring 11.9 12.7 -6.3%
Fair Value Inputs Level3 · Municipal Bonds 7.1 7.6 -6.6%
Fair Value Inputs Level3 · Municipal Bonds 7.1 7.6 -6.6%
Show Financial Instrument breakouts
Commercial Mortgage Backed Securities 854.9 404.6 +111.3%
Commercial Mortgage Backed Securities · Fair Value Measurements Recurring 854.9 404.6 +111.3%
Corporate Debt Securities 4,348.1 3,938.8 +10.4%
Corporate Debt Securities · Fair Value Measurements Recurring 4,348.1 3,938.8 +10.4%
Fixed Maturities Including Held For Sale [Member] 9,976.2 8,808.3 +13.3%
Foreign Government Debt 2.9 2.4 +20.8%
Foreign Government Debt Securities · Fair Value Measurements Recurring 2.9 2.4 +20.8%
Mortgage Backed Securities Issued By Private Enterprises · Fair Value Measurements Recurring 482.6 318.4 +51.6%
Mortgage Backed Securities Issued By US Government Sponsored Enterprises · Fair Value Measurements Recurring 1,841.7 1,944.6 -5.3%
Municipal Bonds 893.2 883.9 +1.1%
Municipal Bonds · Fair Value Measurements Recurring 893.2 883.9 +1.1%
Other Asset-Backed [Member] 1,114.1 822.9 +35.4%
Other Asset-Backed [Member] · Fair Value Measurements Recurring 1,114.1 822.9 +35.4%
Residential Mortgage Backed Securities 2,324.3 2,263 +2.7%
US Treasury And Government 438.7 492.7 -11.0%
US Treasury And Government · Fair Value Measurements Recurring 438.7 492.7 -11.0%
Show Fair Value By Measurement Frequency breakouts
Fair Value Measurements Recurring 9,976.2 8,808.3 +13.3%
Equity Securities Fv Ni 188.2 161 +16.9%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level1 · Fair Value Measurements Recurring 167.6 140.3 +19.5%
Fair Value Inputs Level3 · Equity Securities 1.4 1.4 0.0%
Fair Value Inputs Level3 · Equity Securities 7.6 7.4 +2.7%
Fair Value Inputs Level3 · Fair Value Measurements Recurring 20.6 20.7 -0.5%
Show Fair Value By Measurement Frequency breakouts
Fair Value Measurements Recurring 188.2 161 +16.9%
Other Investments 637.3 720.2 -11.5%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level2 · Fair Value Measurements Recurring 13.5 13.8 -2.2%
Fair Value Inputs Level3 · Fair Value Measurements Recurring 3.4 3.9 -12.8%
Show Fair Value By Measurement Frequency breakouts
Fair Value Measurements Recurring 16.9 17.7 -4.5%
Investments 10,801.7 9,689.5 +11.5%
Accrued Investment Income Receivable 76.4 66 +15.8%
Premiums And Other Receivables Net 1,855.9 1,809 +2.6%
Reinsurance Recoverables 2,051.7 2,034.2 +0.9%
Deferred Policy Acquisition Costs 690.8 656.9 +5.2%
Other Assets 443.3 493.2 -10.1%
Assets Of Disposal Group Including Discontinued Operation 83.3 85.7 -2.8%
Show Disposal Group Classification breakouts
Discontinued Operations Disposed Of By Sale 83.3 85.7 -2.8%
Non-Current Liabilities
Accounts Payable And Accrued Liabilities Current And Noncurrent 650.5 618.6 +5.2%
Long-Term Debt 793.7
Total Liabilities 12,957.3 12,425.9 +4.3%
Other Liabilities
Liability For Claims And Claims Adjustment Expense 7,911.1 7,608.9 +4.0%
Unearned Premiums 3,402 3,259.3 +4.4%
Reinsurance Payable 43.4 45.8 -5.2%
Short Term Borrowings 50.1
Show Debt Instrument breakouts
Subordinated debentures maturing February 3, 2027 [Member] 50.1
Liabilities Of Disposal Group Including Discontinued Operation 106.5 109 -2.3%
Stockholders' Equity
Common Stock 0.6 0.6 0.0%
Additional Paid In Capital Common Stock 2,016 1,978.3 +1.9%
Accumulated Other Comprehensive Income -237.9 -344.7 +31.0%
Retained Earnings 3,894.5 3,306.8 +17.8%
Treasury Stock Value -2,102.8
Total Stockholders' Equity 3,570.4 3,044.4 +17.3%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -52.9 -53.8 +1.7%
Accumulated Net Unrealized Investment Gain Loss -185.2 -292.3 +36.6%
Accumulated Other Comprehensive Income -237.9 -344.7 +31.0%
Additional Paid In Capital 2,016 1,978.3 +1.9%
Long Duration Insurance Contracts [Member] 0.2 1.4 -85.7%
Retained Earnings 3,894.5 3,306.8 +17.8%
Treasury Stock Common -2,102.8 -1,896.6 -10.9%
Total Liabilities & Equity 16,527.7 15,470.3 +6.8%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Net Income 186.8 128.2 +45.7%
Gain Loss On Investments 2.5 18.1 -86.2%
Depreciation Amortization And Accretion Net -1.8 -1.1 -63.6%
Stock-Based Compensation 6.6 6.6 0.0%
Amortization Of Defined Benefit Plan Costs 1.7 1.6 +6.2%
Increase Decrease In Deferred Income Taxes -1.3 1.9 -168.4%
Increase Decrease In Deferred Policy Acquisition Costs 12.2 5.9 +106.8%
Increase Decrease In Premiums Receivable 3.6 -0.1 +3700.0%
Increase Decrease In Insurance Liabilities 116.8 122.9 -5.0%
Increase Decrease In Reinsurance Recoverable -40.6 -39.7 -2.3%
Increase Decrease In Accounts Payable And Accrued Liabilities -167.7 -167.3 -0.2%
Net Cash from Operations 118.8 38.9 +205.4%
Investing Activities
Proceeds From Sale And Maturity Of Available For Sale Securities 631.2 696.6 -9.4%
Proceeds From Sale Of Equity Securities And Other Investments 38.3 20.5 +86.8%
Purchases of Investments -1,146.9 -806.9 -42.1%
Payments To Acquire Equity Securities And Other Investments -12.9 -20.7 +37.7%
Capital Expenditures -3.5 -1.8 -94.4%
Net Cash from Investing -493.8 -112.3 -339.7%
Financing Activities
Proceeds From Stock Options Exercised 3.9 6.8 -42.6%
Payments Of Dividends -33.5 -32.4 -3.4%
Debt Repayments -375
Share Repurchases -86.9 -11 -690.0%
Proceeds From Payments For Other Financing Activities -13.1 -10.9 -20.2%
Net Cash from Financing -504.6 -47.5 -962.3%
Other Cash Flow
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations -879.6 -120.9 -627.5%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Disposal Group Including Discontinued Operations 0.4 0.5 -20.0%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations 243.5 315.1 -22.7%

Values in millions USD. Source: SEC EDGAR 10-Q filing.

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