UPDATE 2-Hanover to sell specialty unit Chaucer to China Reinsurance for $950 mln [Reuters (UK)]
Hanover Insurance Group Inc (THG)
Last hanover insurance group inc earnings: 4/28 04:13 pm
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Source: Reuters
Hanover to sell specialty unit Chaucer to China Reinsurance for $950 million | Reuters 2 Min Read (Reuters) - Hanover Insurance Group Inc on Thursday decided to sell its unit that underwrites risks at insurance market Lloyd’s to China Reinsurance Group Corp for $950 million to focus on expanding its domestic business. Shares of Hanover rose as much as 5.32 percent, with the company saying that sale of the unit, Chaucer, would reduce its catastrophe and tail risk exposure and improve long-term operating return-on-equity potential. China Reinsurance will fund the deal to buy Chaucer with $865 million in cash and $85 million in dividends from the unit. The cash part of the deal consists of initial consideration of $820 million payable at closing and $45 million to be held in an escrow account, which may be adjusted if catastrophe losses incurred in 2018 go beyond certain threshold. “This transaction will enable us to build on the growing momentum in our domestic property and casualty bus
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THG
News
- The Hanover Insurance Group, Inc. (NYSE: THG) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $150.00 price target on the stock.MarketBeat
- The Hanover Insurance Group, Inc. to Hold Annual Meeting of Shareholders on May 14 [Yahoo! Finance]Yahoo! Finance
- The Hanover Insurance Group, Inc. to Hold Annual Meeting of Shareholders on May 14PR Newswire
- The Hanover Insurance Group, Inc. (NYSE: THG) had its price target raised by analysts at Keefe, Bruyette & Woods from $137.00 to $142.00. They now have a "market perform" rating on the stock.MarketBeat
- The Hanover Insurance Group, Inc. (NYSE: THG) had its "outperform" rating re-affirmed by analysts at Oppenheimer Holdings Inc.. They now have a $150.00 price target on the stock.MarketBeat
THG
Earnings
- 1/31/24 - Beat
THG
Sec Filings
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- THG's page on the SEC website