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WORCESTER, Mass., July 28, 2016 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE:  THG) today reported net income of $2.0 million, or $0.05 per diluted share, for the second quarter of 2016, which included a previously announced non-operating charge of $56.0 million, net of tax, on the retirement of debt.  This compared to net income of $120.7 million, or $2.68 per diluted share, in the prior-year quarter, which included a non-operating gain of $40.3 million, net of tax, on the sale of the U.K. motor business on June 30, 2015. Operating income was $54.0 million, or $1.24 per diluted share, for the second quarter of 2016, compared to $70.4 million, or $1.56 per diluted share, in the prior-year quarter. 

Second Quarter Highlights

• Combined ratio of 97.3%, including 4.5 points of catastrophe losses
• Chaucer segment results impacted by catastrophe and large losses, as well as movement in foreign exchange rates
• Net premiums written(2) of $1.2 billion; down 5.6%, driven by the sale of the Chaucer U.K. motor business; U.S. net premiums written grew 2.9%
• Continued price increases in Commercial and Personal Lines
• Net investment income of $69.1 million
• Repurchased approximately 230,000 shares of common stock for $19.1 million, at an average price of $83.19 per share
• Book value per share of $70.58, up 1.8% from March 31, 2016, and up 6.6% from December 31, 2015; book value per share excluding net unrealized gains on investments of $62.99, down 0.8% and up 0.4%, respectively



News Download: The Hanover's Q2 2016 Financial Results

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