WORCESTER, Mass. (AP) — WORCESTER, Mass. (AP) — The Hanover Insurance Group Inc. (THG) on Wednesday reported first-quarter net income of $115.5 million.
On a per-share basis, the Worcester, Massachusetts-based company said it had net income of $3.18. Earnings, adjusted for investment gains, were $3.13 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.66 per share.
The insurance company posted revenue of $1.55 billion in the period.
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