Insurance Underwriter - Rates and Tariffs
| UPDATE 2: Hanover CEO says weather will create room for more price increases |  |
November 03, 2009 1:34 PM ET
By Jacob Geiger
|  Related Companies | Related Documents | Related Articles |
Hanover Insurance Group Inc. CEO Frederick Eppinger Jr. said Nov. 3 that significant noncatastrophe weather in several states will help the company push through rate increases in the coming months. Speaking during the Q&A portion of the company's earnings conference call, Eppinger said Hanover's geographically diverse operations will allow it to keep increases smaller than those of regional companies that have been hit harder by adverse weather. He said many competitors may raise rates 12% to 14%, while Hanover hopes to keep its increases in single digits as it seeks to increase market share. Eppinger also said during the Q&A session that the company expects to have $300 million to $400 million in excess capital through 2010, as the company's share repurchase program and other capital allocation measures are offset by positive capital development. | 
Add to Library
