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Claims Ratio % is the percentage of claims costs incurred in relation to the premiums earned.
The Hanover Insurance Group's Claims Ratio % for the quarter that ended in Dec. 2023 was 63.60% , which is lower than 74.20% for the pervious quarter ended in Sep. 2023.
The Hanover Insurance Group's Claims Ratio % for the annual that ended in Dec. 2023 was 73.00% , which is higher than 69.00% for the pervious year ended in Dec. 2022.
The historical rank and industry rank for The Hanover Insurance Group's Claims Ratio % or its related term are showing as below:
The historical data trend for The Hanover Insurance Group's Claims Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
The Hanover Insurance Group Annual Data | |||||||||||
Trend | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | ||||||
Claims Ratio % | Get a 7-Day Free Trial | ||||||||||
Expense Ratio % | Get a 7-Day Free Trial | ||||||||||
Combined Ratio % | Get a 7-Day Free Trial |
The Hanover Insurance GroupQuarterly Data | |||||||||||||||||||||||||||||||||||||||||
Trend | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |||||||||||||||||||||
Claims Ratio % | Get a 7-Day Free Trial | ||||||||||||||||||||||||||||||||||||||||
Expense Ratio % | Get a 7-Day Free Trial | ||||||||||||||||||||||||||||||||||||||||
Combined Ratio % | Get a 7-Day Free Trial |
For the Insurance - Property & Casualty subindustry, The Hanover Insurance Group's Claims Ratio %, along with its competitors' market caps and Claims Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Claims Ratio % is calculated as
Claims Ratio % | = | Total Claims | / | Total Premiums Earned | * | 100% |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
The Hanover Insurance Group (NYSE:THG) Claims Ratio % Explanation
Claims Ratio % the percentage of claims costs incurred in relation to the premiums earned during the period. It is the equivalent of gross profit margin for an insurance company.
It's important to note that insurance is the business of managing risks and, to do that well, the insurer needs a thorough understanding of the incurred claims ratio. If the value is higher than expected or above established norms, then further investigation is required to figure out why that is (eg: fraud). If it is lower than expected, it could indicate irrelevant products or difficulties in claiming, possibly affecting customer satisfaction.
Thank you for viewing the detailed overview of The Hanover Insurance Group's Claims Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Jane D Carlin | director | C/O PHH CORPORATION, 3000 LEADENHALL ROAD, MT. LAUREL NJ 08054 |
David John Lovely | officer: Executive Vice President | 440 LINCOLN STREET, WORCESTER MA 01653 |
Mark Joseph Welzenbach | officer: Senior Vice President | C/O THE HANOVER INSURANCE GROUP, INC., 440 LINCOLN STREET (S-316), WORCESTER MA 01653 |
Elizabeth A Ward | director | 440 LINCOLN STREET, WORCESTER MA 01653 |
Francisco Aristeguieta | director | 388 GREENWICH STREET, 17TH FLOOR, NEW YORK NY 10013 |
John C Roche | officer: Vice President | C/O THE HANOVER INSURANCE GROUP, INC., 440 LINCOLN STREET, WORCESTER MA 01653 |
Warren E Barnes | officer: Vice President of Subsidiary | THE HANOVER INSURANCE GROUP, INC., 440 LINCOLN STREET, WORCESTER MA 01653 |
Richard W Lavey | officer: Vice President of Subsidiary | THE HANOVER INSURANCE GROUP, INC., 440 LINCOLN STREET, WORCESTER MA 01653 |
Jeffrey M Farber | officer: Executive Vice President | C/O THE HANOVER INSURANCE GROUP, 440 LINCOLN STREET, WORCESTER MA 01653 |
Willard T Lee | officer: Senior Vice President | 440 LINCOLN STREET, WORCESTER MA 01653 |
Bryan J Salvatore | officer: Executive Vice President | 440 LINCOLN STREET, N435, WORCESTER MA 01653 |
J Paul Condrin | director | 440 LINCOLN STREET, WORCESTER MA 01653 |
Bunting Theodore H Jr | director | P. O. BOX 61000, NEW ORLEANS LA 70161 |
Martin P Hughes | director | C/O HUB INTERNATIONAL LIMITED, 55 EAST JACKSON BLVD, CHICAGO IL 60604 |
Dennis Francis Kerrigan | officer: Executive Vice President | 440 LINCOLN STREET, E-10, WORCESTER MA 01653 |
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