Better-than-expected premium growth and "strong" underlying profitability at Lloyd's (re)insurer Chaucer was cited as a driver in The Hanover Group's modest beat of Q2 earnings forecasts.
The US insurer reported after-tax operating profits of $10.0mn, or 22 cents a share, compared to a prior-year period loss of $38.4mn, or 85 cents a share, and Wall Street consensus of 19 cents a share.
A significant factor in the improvement was the much lighter cat burden, at $74.mn before tax, compared with...
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