Hanover third quarter net income up

Hanover Insurance Group reports $52.3m net income.

The Hanover Insurance Group has reported a net income of $52.3m, or $1.15 per diluted share, for the third quarter of 2010, compared to $49.7 or $0.97 per diluted share, for the same quarter of 2009.

The net revenue for the third quarter of 2010 was $804, compared to $708.5m for the same quarter of the previous year.

Total Property and Casualty segment income before interest expense and taxes was $79.2m in the third quarter of 2010, compared to $73.6m in the third quarter of last year.

The Hanover CEO Frederick Eppinger said, the distinctive partner strategy and investments in industry-focused niches and specialty lines, geared toward Main Street business, have allowed the Hanover to gain shelf space with winning agents without engaging in aggressive pricing behavior.