Aug 1 (Reuters) – Property and casualty insurer Hanover Insurance Group Inc posted a quarterly profit above Wall Street estimates for the fourth straight time on lower catastrophe losses and higher premiums.
The 160-year old company, which insured U.S. ships carrying cargo across the Atlantic during the World War I, earned $20.8 million, or 46 cents per share, in the second quarter, compared with a loss of $32.2 million, or 71 cents per share, a year earlier.
Segment income, which excludes certain investment gains and losses, was $22 per share, above analysts' average estimate of 19 cents per share, according to Thomson Reuters I/B/E/S.
Net premiums written jumped 47 percent to $1.2 billion.
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