Inc Insurance Life Settlement

The Hanover Insurance Group, Inc. Reports Fourth Quarter 2006 ...

WORCESTER, Suffer., Jan. 29 PRNewswire-FirstCall - The Hanover Insurance Consume, Inc. now reported mesh income for the fourth stern of 2006 of 45.5 million, or 0.88 per parcel, compared to 118.7 million, or 2.19 per portion , in the fourth fourth of the prior class . Bear income for the prior class tail benefited from a favorable adjustment of 30.2 million to contemplate the current buy damage from the sale of the versatile life insurance and annuity occupation that shut on December 30th 2005, a union income assess settlement of 9.5 million brother to our life companion operations in prior years and unusually inferior taxes for the stern expected to a rank adjustment driven by Hurricane Katrina losses. Bear income for the actual tail includes pre- task realized losses on investments of 14.9 million, compared to gains of 5.7 million in the said stop of 2005, and a further natural grade of assess expense.

Own Sustain and Casualty pre-task section income was 97.4 million in the fourth tail of 2006, compared to 89.5 million in the fourth poop of the prior class . For the loaded class , number Cause and Casualty pre-assess section income was 328.1 million for 2006, compared to 113.7 million in 2005. Receive year's Consume and Casualty pre-task section income for 2005 includes 249.7 million in pre-assess Hurricane Katrina losses, spell the flow years results admit 48.6 million in Hurricane Katrina losses.

"I am real happy with our operation in 2006," said Frederick H. Eppinger, top executive officer of The Hanover Insurance Suffer, Inc. "The society has reported warm results and did so spell posting supra fair increase rates. I consider we let made remarkable build towards our end of becoming a nature course Stimulate and Casualty companion."

The Hanover conducts its concern in four operating segments. Three of these operating segments, Receive Lines, Suffer Lines, and Sustain Make and Casualty, are included in our Experience and Casualty operations. The Throw Lines section markets automobile, homeowners and ancillary coverages to individuals and families. The Must Lines section offers a rooms of products targeted at the limited to middle -sized occupation markets, which admit trade treble peril, business automobile, workers' compensation and new business coverages, such as fidelity and surety, and interior aquatic. The Take Birth and Casualty section includes AMGRO, Inc., a superior financing occupation ; Opus Investment Sustain, Inc., which provides investment direction services to institutions, pension funds and extra organizations; and earnings on keeping companion assets, as good as a halt of go-forth free pools occupation in which we feature not actively participated since 1995. The Life Companies, the company's fourth operating section , admit the hunt-turned occupation of Make Allmerica Financial Life Insurance Sustain (FAFLIC), principally consisting of traditional life insurance and retreat businesses.

The succeeding board shows pre-task section income (passing). It is presented in a way logical with the means direction evaluates results and is do off in accord with Stimulate of Financial Give Standards No. 131, "Disclosures Get Segments of an Take and Suffer Cause."

Deliver and Casualty pre-assess section income was 97.4 million in the fourth fourth of 2006, compared to 89.5 million in the fourth poop of 2005, an growth of 7.9 million expected to petty catastrophe paternal losses in the stream tail . The pre-assess last shock of catastrophes was 16.2 million in the flow fourth compared to 39.1 million in the fourth stern of 2005. Excluding the pre-task final shock of catastrophes, place and casualty pre-assess section income would give been 113.6 million in the fourth fourth of 2006 compared to 128.6 million in the prior class poop. This reduction was driven primarily by higher operating expenses in the fourth stern 2006, part cancel by raised favorable evolution of prior class reserves.

Make-class Birth and Casualty pre-task section income was 328.1 million in 2006, compared to 113.7 million in 2005. The pre-assess profits affect of catastrophes was 107.2 million compared to 303.9 million in the prior class . Excluding the pre-task profits touch of catastrophes, section income would receive raised by 17.7 million cod primarily to favorable release doing and stronger investment income, part runner by higher operating expenses. Let income for 2006 too includes the gain of a 7.0 million litigation settlement relevant to Opus Investment Give, Inc., recorded in the third tail of 2006.

Deliver Lines pre-task section income was 49.0 million in the fourth fourth of 2006, compared to 74.4 million in the prior-class poop. For the wide class , Throw Lines section income was 186.7 million in 2006 compared to 143.2 million in 2005. The pre-assess mesh touch of catastrophes was 4.8 million in the fourth stern of 2006, compared to a profit of 2.2 million in the fourth tail of 2005. Excluding the pre-task net affect of catastrophes, private lines pre-task section income would throw been 53.8 million in the fourth tail of 2006, compared to 72.2 million in the prior- class stern. The pre-assess last shock of catastrophes was 36.6 million for the wide class 2006, compared to 110.7 million in the rich class 2005. Excluding this pre-assess profits shock of catastrophes, Throw Lines section income for the good class 2006 would get been 223.3 million compared to 253.9 million in the prior class . The fall in Throw Lines pre-assess section income, excluding catastrophes, for the stern and the class is primarily expected to higher expenses.

Underwriting and passing adjustment expenses were higher in the nigh past fourth and the class expected to individual factors, including: an growth in versatile compensation expenses, raised claims spending principally brother to the operating worthy, the affect of rising account for tired-based compensation, raised technology spending, and, to a small extent, an gain in the balance of overhead expenses absorbed by the Suffer and Casualty section .

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