Hanover Insurance Estimates Impact Of Catastrophe, Large Loss Activity In Q2

(RTTNews) - Hanover Insurance Group, Inc. (THG) announced the estimated impact of catastrophe and large loss activity, as well as the impact of foreign exchange movements, on second-quarter results at its Chaucer segment. The company expects the segment to produce an estimated second-quarter combined ratio in the range of 103 to 105 percent.

According to Hanover Insurance, the most notable catastrophe and large loss events impacting Chaucer's results in the quarter include the Alberta wildfires and the Ecuador and Japan earthquakes, as well the Jubilee Oil Field turret malfunction and the Brussels Airport terrorist attack losses, which occurred in the first quarter.

The results also were affected by loss activity in trade credit coverages within the marine line, related to commodity price-sensitive risks.

Foreign exchange movements, in particular weakening of pound sterling, also resulted in a net negative impact on the combined ratio.