Hanover to report Q3 loss
The Hanover Group (THG) has said it will report a loss in the third quarter due to US cat activity and increased losses from its surety business amid a climate of macroeconomic turmoil.
The US specialty insurance group expects a loss of between $26mn to $33mn for the period, including the results from its recently acquired Lloyd's insurer Chaucer.
Q3 cat activity alone will result in a pre-tax charge to the Hanover's quarterly earnings of around $110mn to $115mn -...
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