Reuters – Oct 12 – Hanover Insurance Group Inc projected athird-quarter loss from continuing operations and said itscommercial and personal lines segments may have taken a beatingfrom unusually severe weather-related activity.
|The property and casualty insurer forecast a loss fromcontinuing operations of 20-50 cents a share.
|Hanover said its commercial and personal lines segments may havetaken a hit of $110-$115 million before taxes, or $1.57-$1.65 ashare, after accounting for taxes, due to weather-relatedevents.
|The company said its estimates included losses from domesticcatastrophes, which were in the range of $85-$90 million, withHurricane Irene alone accounting for nearly two-thirds of thelosses.
|Shares of the company closed up nearly 1 percent at $36.23 onWednesday on the New York Stock Exchange.
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