Summary: The Hanover Insurance Group Inc. And Operating Subsidiaries Jun 11

Standard & Poors, June 2011

Abstract
The counterparty credit rating on The Hanover Insurance Group Inc. (THG) and the insurer financial strength ratings on its subsidiaries (collectively referred to as The Hanover) reflect the company's strong competitive position in its core states, improved operating performance, and strong capital position, as well as management's successful execution of its strategy to refocus on the company's property/casualty (P/C) business and geographic expansion. During the past few years, The Hanover's underwriting results have remained stable. Nevertheless, the company's geographic concentration in its top four states, its relatively high expense structure, and the increased catastrophe exposure due to its expansion into new states and outside the U.S. continue to be weaknesses and are limiting rating factors. The Hanover is a regional...

Companies mentioned in this report are: Hanover Insurance Co.,Hanover Insurance Group Inc. (The)
Action: Review

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Hanover Insurance Co.,Hanover Insurance Group Inc. (The)

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