The Hanover Insurance Group, Inc. 8K Results of Operations and Financial Condition | THG 1 Aug 19

Exhibit 99.2

FINANCIAL SUPPLEMENT
SECOND QUARTER 2019

	THE HANOVER INSURANCE GROUP
	FINANCIAL SUPPLEMENT



	TABLE OF CONTENTS


	Business Descriptions.......................................................................................	1
	Financial Highlights...........................................................................................	2
	Consolidated Financial Statements
	Income Statements......................................................................................	3
	Balance Sheets............................................................................................	4
	GAAP Underwriting Results
	Consolidated................................................................................................	5-7
	Commercial Lines.........................................................................................	8-10
	Personal Lines.............................................................................................	11-13
	Investments
	Net Investment Income and Yields.................................................................	14
	Investment Portfolio......................................................................................	15
	Credit Quality and Duration of Fixed Maturities...............................................	16
	Top 10 Corporate and Municipal Fixed Maturity Holdings.................................	17
	Reconciliation of Operating Income to Net Income............................................	18
	Other Information
	Non-GAAP Financial Measures.....................................................................	19
	Corporate Information..................................................................................	20
	Market and Dividend Information...................................................................	20
	Financial Strength and Debt Ratings..............................................................	20

THE HANOVER INSURANCE GROUP

BASIS OF PRESENTATION

BUSINESS DESCRIPTIONS

COMMERCIAL LINES

Commercial multiple peril coverage insures businesses against third party liability from accidents occurring on their premises or arising out of their operations, such as injuries sustained from products sold. It also insures business property for damage, such as that caused by fire, wind, hail, water damage (except for flooding), theft and vandalism.

Commercial automobile coverage insures businesses against losses incurred from personal bodily injury, bodily injury to third parties, property damage to an insured’s vehicle, and property damage to other vehicles and property.

Workers’ compensation coverage insures employers against employee medical and indemnity claims resulting from injuries related to work. Workers’ compensation policies are often written in conjunction with other commercial policies.

Other Commercial Lines is comprised of inland marine, which insures businesses against physical losses to property, such as contractor’s equipment, builders’ risk and goods in transit. We also offer underwriting and managing of program business, including to under-served markets where there are specialty coverage or risk management needs. Other Commercial Lines also includes bonds, which provides businesses with contract surety coverage in the event of performance or payment claims, and commercial surety coverage related to fiduciary or regulatory obligations. Also included in Other Commercial Lines coverages are umbrella, general liability, fire, specialty property, and professional and management liability.

PERSONAL LINES

Personal automobile coverage insures individuals against losses incurred from personal bodily injury, bodily injury to third parties, property damage to an insured's vehicle, and property damage to other vehicles and other property.

Homeowners coverage insures individuals for losses to their residences and personal property, such as those caused by fire, wind, hail, water damage (except for flooding), theft and vandalism, and against third party liability claims.

Other Personal Lines are comprised of personal inland marine (jewelry, art, etc.), umbrella, fire, personal watercraft, earthquake and other miscellaneous coverages.

OTHER

Included in Other are Opus, which provides investment advisory services to affiliates and also manages assets for unaffiliated institutions such as insurance companies, retirement plans and foundations; earnings on holding company assets; and a discontinued voluntary pools business.

THE HANOVER INSURANCE GROUP
FINANCIAL HIGHLIGHTS


		Q2				Q3				Q4				Q1				Q2				Jun-YTD			Jun-YTD
(In millions, except earnings per share)		2018				2018				2018				2019				2019				2018			2019
PREMIUMS
Gross premiums written	$		1,206.8		$		1,296.7		$		1,161.6		$		1,226.3		$		1,271.5		$		2,385.4	$		2,497.8

Net premiums written			1,094.2				1,177.2				1,044.7				1,098.0				1,137.8				2,162.9			2,235.8

Net premiums earned			1,058.2				1,071.7				1,082.0				1,095.1				1,111.0				2,100.7			2,206.1

EARNINGS
Operating income before interest and taxes	$		107.3		$		112.8		$		93.1		$		109.8		$		107.0		$		200.6	$		216.8
Operating income after taxes			76.2				84.9				64.9				80.7				77.7				142.3			158.4

Income from continuing operations			82.4				104.0				2.1				122.6				85.0				132.9			207.6

Net income			99.3				100.4				123.6				122.4				74.0				167.0			196.4

PER SHARE DATA (DILUTED)

Operating income after taxes	$		1.77		$		1.97		$		1.51		$		1.96		$		1.88		$		3.30	$		3.84

Income from continuing operations			1.91				2.41				0.05				2.98				2.06				3.08			5.04

Net income			2.31				2.33				2.88				2.97				1.79				3.88			4.77

Weighted average shares outstanding			43.1				43.1				42.9				41.2				41.2				43.1			41.2



BALANCE SHEET
		June 30				September 30				December 31				March 31				June 30
(In millions, except per share data)		2018				2018				2018				2019				2019

Total assets	$		15,403.6		$		15,624.3		$		12,399.7		$		11,983.4		$		12,159.9
Total loss and loss adjustment expense reserves			5,116.4				5,188.9				5,304.1				5,381.6				5,478.5
Total shareholders' equity			2,939.8				2,982.4				2,954.7				2,927.0				2,941.1
Total shareholders' equity, excluding net unrealized appreciation
depreciation on fixed maturity investments, net of tax			2,988.6				3,056.4				2,981.9				2,836.3				2,748.8

U.S. Property and Casualty Companies
Statutory surplus	$		2,075.7		$		2,171.2		$		2,172.5		$		2,301.1		$		2,249.7
Premium to surplus ratio		2.06:1				1.99:1				2.02:1				1.92:1				1.98:1

Book value per share	$		69.17		$		70.40		$		69.81		$		71.95		$		74.39
Book value per share, excluding net unrealized appreciation
depreciation on fixed maturity investments, net of tax	$		70.32		$		72.14		$		70.46		$		69.72		$		69.52
Tangible book value per share (total book value excluding goodwill
and intangibles)	$		62.63		$		63.90		$		64.71		$		66.67		$		69.30

Shares outstanding			42.5				42.4				42.3				40.7				39.6

Total debt/equity			26.8	%			26.1	%			26.3	%			22.3	%			22.2	%
Total debt/total capital			21.1	%			20.7	%			20.8	%			18.2	%			18.2	%

THE HANOVER INSURANCE GROUP
CONSOLIDATED INCOME STATEMENTS



	Three Months ended June 30											Six Months ended June 30
(In millions)		2019				2018			% Change				2019				2018			% Change

REVENUES
Premiums earned	$		1,111.0		$		1,058.2			5.0		$		2,206.1		$		2,100.7			5.0
Net investment income			69.6				65.6			6.1				139.8				131.6			6.2
Net realized and unrealized investment gains (losses):
Net realized gains (losses) from sales and other			0.8				(0.5	)		(260.0	)			0.4				0.1			300.0
Net change in fair value of equity securities			11.7				6.0			95.0				60.3				(16.9	)		(456.8	)
Net other-than-temporary impairment losses on investments
recognized in earnings			(0.4	)			(1.8	)		(77.8	)			(0.4	)			(2.4	)		(83.3	)
Total net realized and unrealized investment gains (losses)			12.1				3.7			227.0				60.3				(19.2	)		(414.1	)
Fees and other income			5.9				5.9		-					11.9				11.8			0.8
Total revenues			1,198.6				1,133.4			5.8				2,418.1				2,224.9			8.7

LOSSES AND EXPENSES
Losses and loss adjustment expenses			717.7				671.2			6.9				1,417.3				1,342.1			5.6
Amortization of deferred acquisition costs			230.5				221.6			4.0				460.0				440.3			4.5
Interest expense			9.3				11.4			(18.4	)			18.7				22.7			(17.6	)
Other operating expenses			131.3				129.6			1.3				263.7				261.1			1.0
Total losses and expenses			1,088.8				1,033.8			5.3				2,159.7				2,066.2			4.5

Income from continuing operations before income taxes			109.8				99.6			10.2				258.4				158.7			62.8
Income tax expense			19.2				17.2			11.6				45.2				25.8			75.2
Effect of new tax regulations on Chaucer gain on sale			5.6				-		N/M					5.6				-		N/M

Income from continuing operations			85.0				82.4			3.2				207.6				132.9			56.2

Discontinued Operations (net of taxes):
									-
Sale of Chaucer business			(9.9	)			-		N/M					(9.0	)			-		N/M

Income (loss) from Chaucer business			(0.2	)			16.8		N/M					(0.5	)			34.1		N/M

Income (loss) from discontinued life businesses			(0.9	)			0.1		N/M					(1.7	)			-		N/M

Net income	$		74.0		$		99.3			(25.5	)	$		196.4		$		167.0			17.6

THE HANOVER INSURANCE GROUP
CONSOLIDATED BALANCE SHEETS



		June 30				December 31
(In millions, except per share data)		2019				2018			% Change
ASSETS
Investments:
Fixed maturities, at fair value (amortized cost of $6,402.0 and $6,245.9)	$		6,598.9		$		6,161.5			7.1
Equity securities, at fair value			531.3				464.4			14.4
Other investments			692.4				661.5			4.7
Total investments			7,822.6				7,287.4			7.3
Cash and cash equivalents			179.8				1,020.7			(82.4	)
Accrued investment income			53.2				53.2		-
Premiums and accounts receivable, net			1,229.0				1,176.7			4.4
Reinsurance recoverable on paid and unpaid losses and unearned premiums			1,701.8				1,648.6			3.2
Deferred acquisition costs			456.8				450.8			1.3
Deferred income tax asset			-				50.6		N/M
Goodwill			178.8				178.8		-
Other assets			431.3				371.6			16.1
Assets held-for-sale			-				57.4		N/M
Assets of discontinued businesses			106.6				103.9			2.6
Total assets	$		12,159.9		$		12,399.7			(1.9	)

LIABILITIES AND SHAREHOLDERS' EQUITY

LIABILITIES
Loss and loss adjustment expense reserves	$		5,478.5		$		5,304.1			3.3
Unearned premiums			2,323.4				2,277.8			2.0
Expenses and taxes payable			563.1				909.8			(38.1	)
Deferred income tax liabilities			29.2				-		N/M
Reinsurance premiums payable			53.2				37.3			42.6
Debt			653.1				777.9			(16.0	)
Liabilities held-for-sale			-				22.2		N/M
Liabilities of discontinued businesses			118.3				115.9			2.1
Total liabilities			9,218.8				9,445.0			(2.4	)

SHAREHOLDERS' EQUITY
Preferred stock, par value $0.01 per share;
20.0 million shares authorized; none issued			-				-		-
Common stock, par value $0.01 per share; 300.0 million shares
authorized; 60.5 million shares issued			0.6				0.6		-
Additional paid-in capital			1,833.1				1,871.8			(2.1	)
Accumulated other comprehensive income (loss)			108.2				(116.5	)		(192.9	)
Retained earnings			2,328.1				2,182.3			6.7
Treasury stock at cost (20.9 million and 18.2 million shares)			(1,328.9	)			(983.5	)		35.1
Total shareholders' equity			2,941.1				2,954.7			(0.5	)
Total liabilities and shareholders' equity	$		12,159.9		$		12,399.7			(1.9	)

THE HANOVER INSURANCE GROUP
GAAP UNDERWRITING AND OPERATING INCOME INFORMATION AND RATIOS

CONSOLIDATED

Three Months ended June 30



		2019																2018


		Commercial				Personal												Commercial				Personal
(In millions, except percentage data)		Lines				Lines				Other				Total				Lines				Lines				Other				Total


Gross premiums written	$		749.5		$		522.0		$		-		$		1,271.5		$		717.7		$		489.1		$		-		$		1,206.8

Net premiums written	$		644.7		$		493.1		$		-		$		1,137.8		$		629.6		$		464.6		$		-		$		1,094.2

Net premiums earned	$		658.8		$		452.2		$		-		$		1,111.0		$		634.6		$		423.6		$		-		$		1,058.2

Losses and LAE:

Current accident year, excluding catastrophe losses			382.7				275.8				-				658.5				358.2				254.1				-				612.3

Prior accident year unfavorable (favorable) reserve development, excluding catastrophe losses			(4.0	)			3.3				0.3				(0.4	)			(8.0	)			7.8				0.3				0.1

Current accident year catastrophe losses			28.3				38.3				-				66.6				25.1				34.0				-				59.1

Prior accident year favorable catastrophe loss development			(5.3	)			(1.7	)			-				(7.0	)			(0.3	)			-				-				(0.3	)

Total losses and LAE			401.7				315.7				0.3				717.7				375.0				295.9				0.3				671.2

Amortization of deferred acquisition costs and other underwriting expenses			228.0				125.6				-				353.6				222.1				119.8				0.8				342.7
											-
GAAP underwriting profit (loss)			29.1				10.9				(0.3	)			39.7				37.5				7.9				(1.1	)			44.3
											-
Net investment income			44.4				19.7				5.5				69.6				44.8				18.1				2.7				65.6

Other income			2.0				2.7				1.2				5.9				2.3				2.8				0.8				5.9

Other operating expenses			(2.7	)			(1.6	)			(3.9	)			(8.2	)			(2.8	)			(1.6	)			(4.1	)			(8.5	)

Operating income (loss) before income taxes	$		72.8		$		31.7		$		2.5		$		107.0		$		81.8		$		27.2		$		(1.7	)	$		107.3


Loss and LAE ratio:

Current accident year, excluding catastrophe losses			58.1	%			61.0	%		N/M					59.2	%			56.5	%			60.1	%		N/M					57.9	%

Prior accident year unfavorable (favorable) reserve development, excluding catastrophe losses			(0.6	)%			0.7	%		N/M					-				(1.3	)%			1.8	%		N/M					-

Current accident year catastrophe losses			4.3	%			8.5	%		N/M					6.0	%			3.9	%			8.0	%		N/M					5.6	%

Prior accident year favorable catastrophe loss development			(0.8	)%			(0.4	)%		N/M					(0.6	)%			-				-			N/M					-
Total loss and LAE ratio			61.0	%			69.8	%		N/M					64.6	%			59.1	%			69.9	%		N/M					63.5	%

Expense ratio			34.4	%			27.2	%		N/M					31.5	%			34.8	%			27.7	%		N/M					32.0	%

Combined ratio			95.4	%			97.0	%		N/M					96.1	%			93.9	%			97.6	%		N/M					95.5	%

THE HANOVER INSURANCE GROUP
GAAP UNDERWRITING AND OPERATING INCOME INFORMATION AND RATIOS

CONSOLIDATED

Six Months ended June 30



		2019																2018

		Commercial				Personal												Commercial				Personal
(In millions, except percentage data)		Lines				Lines				Other				Total				Lines				Lines				Other				Total

Gross premiums written	$		1,529.0		$		968.8		$		-		$		2,497.8		$		1,476.7		$		908.7		$		-		$		2,385.4

Net premiums written	$		1,322.1		$		913.7		$		-		$		2,235.8		$		1,301.5		$		861.4		$		-		$		2,162.9

Net premiums earned	$		1,311.2		$		894.9		$		-		$		2,206.1		$		1,263.6		$		837.1		$		-		$		2,100.7

Losses and LAE:

Current accident year, excluding catastrophe losses			766.7				551.7				-				1,318.4				711.4				506.0				-				1,217.4

Prior accident year unfavorable (favorable) reserve development, excluding catastrophe losses			(11.5	)			10.8				0.6				(0.1	)			(9.6	)			9.4				0.6				0.4

Current accident year catastrophe losses			52.2				67.3				-				119.5				69.7				61.7				-				131.4

Prior accident year favorable catastrophe loss development			(18.8	)			(1.7	)			-				(20.5	)			(6.9	)			(0.2	)			-				(7.1	)

Total losses and LAE			788.6				628.1				0.6				1,417.3				764.6				576.9				0.6				1,342.1

Amortization of deferred acquisition costs and other underwriting expenses			456.8				250.2				-				707.0				445.2				237.7				1.5				684.4
											-
GAAP underwriting profit (loss)			65.8				16.6				(0.6	)			81.8				53.8				22.5				(2.1	)			74.2

Net investment income			88.7				39.4				11.7				139.8				90.1				36.5				5.0				131.6

Other income			4.0				5.5				2.4				11.9				4.6				5.8				1.4				11.8

Other operating expenses			(5.5	)			(3.0	)			(8.2	)			(16.7	)			(5.3	)			(3.3	)			(8.4	)			(17.0	)

Operating income (loss) before income taxes	$		153.0		$		58.5		$		5.3		$		216.8		$		143.2		$		61.5		$		(4.1	)	$		200.6


Loss and LAE ratio:

Current accident year, excluding catastrophe losses			58.5	%			61.7	%		N/M					59.7	%			56.3	%			60.5	%		N/M					57.9	%

Prior accident year unfavorable (favorable) reserve development, excluding catastrophe losses			(0.9	)%			1.2	%		N/M					-				(0.8	)%			1.1	%		N/M					-

Current accident year catastrophe losses			3.9	%			7.5	%		N/M					5.4	%			5.5	%			7.3	%		N/M					6.3	%

Prior accident year favorable catastrophe loss development			(1.4	)%			(0.2	)%		N/M					(0.9	)%			(0.5	)%			-			N/M					(0.3	)%
Total loss and LAE ratio			60.1	%			70.2	%		N/M					64.2	%			60.5	%			68.9	%		N/M					63.9	%

Expense ratio			34.7	%			27.4	%		N/M					31.7	%			35.0	%			27.8	%		N/M					32.2	%

Combined ratio			94.8	%			97.6	%		N/M					95.9	%			95.5	%			96.7	%		N/M					96.1	%

THE HANOVER INSURANCE GROUP
GAAP UNDERWRITING INFORMATION AND RELATED RATIOS


CONSOLIDATED




		Q2				Q3				Q4				Q1				Q2				Jun-YTD				Jun-YTD
(In millions, except percentage data)		2018				2018				2018				2019				2019				2018				2019



Gross premiums written	$		1,206.8		$		1,296.7		$		1,161.6		$		1,226.3		$		1,271.5		$		2,385.4		$		2,497.8

Net premiums written	$		1,094.2		$		1,177.2		$		1,044.7		$		1,098.0		$		1,137.8		$		2,162.9		$		2,235.8

Net premiums earned	$		1,058.2		$		1,071.7		$		1,082.0		$		1,095.1		$		1,111.0		$		2,100.7		$		2,206.1

Losses and LAE:

Current accident year, excluding catastrophe losses			612.3				631.2				656.4				659.9				658.5				1,217.4				1,318.4

Prior accident year unfavorable (favorable) reserve development, excluding catastrophe losses			0.1				0.3				(0.3	)			0.3				(0.4	)			0.4				(0.1	)

Current accident year catastrophe losses			59.1				45.6				51.5				52.9				66.6				131.4				119.5

Prior accident year favorable catastrophe loss development			(0.3	)			(0.7	)			(1.5	)			(13.5	)			(7.0	)			(7.1	)			(20.5	)

Total losses and LAE			671.2				676.4				706.1				699.6				717.7				1,342.1				1,417.3

Amortization of deferred acquisition costs and other underwriting expenses			342.7				346.7				351.3				353.4				353.6				684.4				707.0

GAAP underwriting profit	$		44.3		$		48.6		$		24.6		$		42.1		$		39.7		$		74.2		$		81.8



Loss and LAE ratio:

Current accident year, excluding catastrophe losses			57.9	%			58.9	%			60.7	%			60.3	%			59.2	%			57.9	%			59.7	%

Prior accident year unfavorable (favorable) reserve development, excluding catastrophe losses			-				-				-				-				-				-				-

Current accident year catastrophe losses			5.6	%			4.3	%			4.7	%			4.8	%			6.0	%			6.3	%			5.4	%

Prior accident year favorable catastrophe loss development			-				(0.1	)%			(0.1	)%			(1.2	)%			(0.6	)%			(0.3	)%			(0.9	)%

Total loss and LAE ratio			63.5	%			63.1	%			65.3	%			63.9	%			64.6	%			63.9	%			64.2	%

Expense ratio			32.0	%			32.0	%			32.1	%			31.9	%			31.5	%			32.2	%			31.7	%

Combined ratio			95.5	%			95.1	%			97.4	%			95.8	%			96.1	%			96.1	%			95.9	%



Combined ratio, excluding catastrophe losses			89.9	%			90.9	%			92.8	%			92.2	%			90.7	%			90.1	%			91.4	%

Current accident year combined ratio, excluding catastrophe losses			89.9	%			90.9	%			92.8	%			92.2	%			90.7	%			90.1	%			91.4	%

THE HANOVER INSURANCE GROUP
GAAP UNDERWRITING AND OPERATING INCOME INFORMATION AND RATIOS

COMMERCIAL LINES

Three Months ended June 30



	2019																				2018


		Multiple								Workers'												Multiple								Workers'
(In millions, except percentage data)		Peril				Auto				Comp				Other				Total				Peril				Auto				Comp				Other				Total


Net premiums written	$		210.7		$		77.9		$		78.9		$		277.2		$		644.7		$		201.4		$		83.9		$		74.6		$		269.7		$		629.6

Net premiums earned	$		219.9		$		84.6		$		81.1		$		273.2		$		658.8		$		207.4		$		83.2		$		80.6		$		263.4		$		634.6

Losses and LAE:

Current accident year, excluding catastrophe losses			122.3				59.0				49.5				151.9				382.7				114.8				55.7				49.7				138.0				358.2

Prior accident year unfavorable (favorable) reserve development, excluding catastrophe losses			(1.0	)			1.7				(6.2	)			1.5				(4.0	)			(0.9	)			4.6				(3.6	)			(8.1	)			(8.0	)

Current accident year catastrophe losses			18.1				1.0				-				9.2				28.3				11.1				1.8				-				12.2				25.1

Prior accident year favorable catastrophe loss development			(2.0	)			(0.1	)			-				(3.2	)			(5.3	)			(0.2	)			-				-				(0.1	)			(0.3	)

Total losses and LAE			137.4				61.6				43.3				159.4				401.7				124.8				62.1				46.1				142.0				375.0

Amortization of deferred acquisition costs and other underwriting expenses																			228.0																				222.1

GAAP underwriting profit																			29.1																				37.5

Net investment income																			44.4																				44.8

Other income																			2.0																				2.3

Other operating expenses																			(2.7	)																			(2.8	)

Operating income before income taxes																	$		72.8																		$		81.8
																														.

Loss and LAE ratio:

Current accident year, excluding catastrophe losses			55.7	%			69.7	%			61.0	%			55.6	%			58.1	%			55.3	%			66.9	%			61.7	%			52.4	%			56.5	%

Prior accident year unfavorable (favorable) reserve development, excluding catastrophe losses			(0.5	)%			2.0	%			(7.6	)%			0.5	%			(0.6	)%			(0.4	)%			5.5	%			(4.5	)%			(3.1	)%			(1.3	)%

Current accident year catastrophe losses			8.2	%			1.2	%			-				3.4	%			4.3	%			5.4	%			2.2	%			-				4.6	%			3.9	%

Prior accident year favorable catastrophe loss development			(0.9	)%			(0.1	)%			-				(1.2	)%			(0.8	)%			(0.1	)%			-				-				-				-
Total loss and LAE ratio			62.5	%			72.8	%			53.4	%			58.3	%			61.0	%			60.2	%			74.6	%			57.2	%			53.9	%			59.1	%

Expense ratio																			34.4	%																			34.8	%

Combined ratio																			95.4	%																			93.9	%



Change in policies in force			7.9	%			(13.5	)%			9.7	%			2.1	%			3.4	%			7.4	%			3.3	%			11.6	%			5.3	%			6.6	%

Retention			85.3	%			75.5	%			82.0	%		N/M					82.7	%			86.2	%			83.2	%			81.3	%		N/M					84.6	%

THE HANOVER INSURANCE GROUP
GAAP UNDERWRITING AND OPERATING INCOME INFORMATION AND RATIOS

COMMERCIAL LINES

Six Months ended June 30



	2019																				2018


		Multiple								Workers'												Multiple								Workers'
(In millions, except percentage data)		Peril				Auto				Comp				Other				Total				Peril				Auto				Comp				Other				Total


Net premiums written	$		434.3		$		163.7		$		172.0		$		552.1		$		1,322.1		$		417.3		$		173.6		$		167.7		$		542.9		$		1,301.5

Net premiums earned	$		438.3		$		169.5		$		160.2		$		543.2		$		1,311.2		$		415.1		$		165.4		$		159.2		$		523.9		$		1,263.6

Losses and LAE:

Current accident year, excluding catastrophe losses			244.5				118.2				96.7				307.3				766.7				230.8				111.7				97.5				271.4				711.4

Prior accident year unfavorable (favorable) reserve development, excluding catastrophe losses			(5.0	)			4.0				(10.7	)			0.2				(11.5	)			(1.7	)			7.9				(6.2	)			(9.6	)			(9.6	)

Current accident year catastrophe losses			36.1				1.3				-				14.8				52.2				43.0				2.1				-				24.6				69.7

Prior accident year favorable catastrophe loss development			(10.6	)			(0.3	)			-				(7.9	)			(18.8	)			(5.4	)			-				-				(1.5	)			(6.9	)

Total losses and LAE			265.0				123.2	��			86.0				314.4				788.6				266.7				121.7				91.3				284.9				764.6

Amortization of deferred acquisition costs and other underwriting expenses																			456.8																				445.2

GAAP underwriting profit																			65.8																				53.8

Net investment income																			88.7																				90.1

Other income																			4.0																				4.6

Other operating expenses																			(5.5	)																			(5.3	)

Operating income before income taxes																	$		153.0																		$		143.2


Loss and LAE ratio:

Current accident year, excluding catastrophe losses			55.8	%			69.7	%			60.4	%			56.6	%			58.5	%			55.5	%			67.5	%			61.2	%			51.8	%			56.3	%

Prior accident year unfavorable (favorable) reserve development, excluding catastrophe losses			(1.1	)%			2.4	%			(6.7	)%			-				(0.9	)%			(0.4	)%			4.8	%			(3.9	)%			(1.8	)%			(0.8	)%

Current accident year catastrophe losses			8.2	%			0.8	%			-				2.8	%			3.9	%			10.4	%			1.3	%			-				4.7	%			5.5	%

Prior accident year favorable catastrophe loss development			(2.4	)%			(0.2	)%			-				(1.5	)%			(1.4	)%			(1.3	)%			-				-				(0.3	)%			(0.5	)%
Total loss and LAE ratio			60.5	%			72.7	%			53.7	%			57.9	%			60.1	%			64.2	%			73.6	%			57.3	%			54.4	%			60.5	%

Expense ratio																			34.7	%																			35.0	%

Combined ratio																			94.8	%																			95.5	%



Change in policies in force			7.9	%			(13.5	)%			9.7	%			2.1	%			3.4	%			7.4	%			3.3	%			11.6	%			5.3	%			6.6	%

Retention			85.5	%			76.6	%			81.3	%		N/M					82.7	%			86.5	%			84.1	%			80.9	%		N/M					84.9	%

THE HANOVER INSURANCE GROUP
GAAP UNDERWRITING INFORMATION AND RELATED RATIOS


COMMERCIAL LINES




		Q2				Q3				Q4				Q1				Q2				Jun-YTD				Jun-YTD
(In millions, except percentage data)		2018				2018				2018				2019				2019				2018				2019


Gross premiums written	$		717.7		$		801.6		$		689.8		$		779.5		$		749.5		$		1,476.7		$		1,529.0

Net premiums written	$		629.6		$		709.2		$		600.0		$		677.4		$		644.7		$		1,301.5		$		1,322.1

Net premiums earned	$		634.6		$		640.4		$		644.4		$		652.4		$		658.8		$		1,263.6		$		1,311.2

Losses and LAE:

Current accident year, excluding catastrophe losses			358.2				372.8				375.9				384.0				382.7				711.4				766.7

Prior accident year favorable reserve development, excluding catastrophe losses			(8.0	)			(8.5	)			(16.0	)			(7.5	)			(4.0	)			(9.6	)			(11.5	)

Current accident year catastrophe losses			25.1				33.2				46.2				23.9				28.3				69.7				52.2

Prior accident year unfavorable (favorable) catastrophe loss development			(0.3	)			(0.7	)			0.8				(13.5	)			(5.3	)			(6.9	)			(18.8	)

Total losses and LAE			375.0				396.8				406.9				386.9				401.7				764.6				788.6

Amortization of deferred acquisition costs and other underwriting expenses			222.1				222.8				227.1				228.8				228.0				445.2				456.8
			-
GAAP underwriting profit	$		37.5		$		20.8		$		10.4		$		36.7		$		29.1		$		53.8		$		65.8



Loss and LAE ratio:

Current accident year, excluding catastrophe losses			56.5	%			58.2	%			58.3	%			58.8	%			58.1	%			56.3	%			58.5	%

Prior accident year favorable reserve development, excluding catastrophe losses			(1.3	)%			(1.3	)%			(2.5	)%			(1.1	)%			(0.6	)%			(0.8	)%			(0.9	)%

Current accident year catastrophe losses			3.9	%			5.2	%			7.2	%			3.7	%			4.3	%			5.5	%			3.9	%

Prior accident year unfavorable (favorable) catastrophe loss development			-				(0.1	)%			0.1	%			(2.1	)%			(0.8	)%			(0.5	)%			(1.4	)%

Total loss and LAE ratio			59.1	%			62.0	%			63.1	%			59.3	%			61.0	%			60.5	%			60.1	%

Expense ratio			34.8	%			34.6	%			35.1	%			34.9	%			34.4	%			35.0	%			34.7	%

Combined ratio			93.9	%			96.6	%			98.2	%			94.2	%			95.4	%			95.5	%			94.8	%



Combined ratio, excluding catastrophe losses			90.0	%			91.5	%			90.9	%			92.6	%			91.9	%			90.5	%			92.3	%

Current accident year combined ratio, excluding catastrophe losses			91.3	%			92.8	%			93.4	%			93.7	%			92.5	%			91.3	%			93.2	%

THE HANOVER INSURANCE GROUP
GAAP UNDERWRITING AND OPERATING INCOME INFORMATION AND RATIOS

PERSONAL LINES

Three Months ended June 30



	2019																2018

(In millions, except percentage data)		Auto				Home				Other				Total				Auto				Home				Other				Total


Net premiums written	$		310.4		$		169.1		$		13.6		$		493.1		$		293.2		$		160.4		$		11.0		$		464.6

Net premiums earned	$		286.5		$		154.3		$		11.4		$		452.2		$		268.1		$		145.7		$		9.8		$		423.6

Losses and LAE:

Current accident year, excluding catastrophe losses			198.1				73.6				4.1				275.8				180.8				69.3				4.0				254.1

Prior accident year unfavorable (favorable) reserve development, excluding catastrophe losses			2.9				1.0				(0.6	)			3.3				5.5				2.1				0.2				7.8

Current accident year catastrophe losses			2.0				35.9				0.4				38.3				2.9				31.0				0.1				34.0

Prior accident year unfavorable (favorable) catastrophe loss development			(0.1	)			(1.6	)			-				(1.7	)			-				0.1				(0.1	)			-

Total losses and LAE			202.9				108.9				3.9				315.7				189.2				102.5				4.2				295.9

Amortization of deferred acquisition costs and other underwriting expenses															125.6																119.8

GAAP underwriting profit															10.9																7.9

Net investment income															19.7																18.1

Other income															2.7																2.8

Other operating expenses															(1.6	)															(1.6	)

Operating income before income taxes													$		31.7														$		27.2


Loss and LAE ratio:

Current accident year, excluding catastrophe losses			69.1	%			47.8	%			36.0	%			61.0	%			67.4	%			47.7	%			40.9	%			60.1	%

Prior accident year unfavorable (favorable) reserve development, excluding catastrophe losses			1.0	%			0.6	%			(5.3	)%			0.7	%			2.1	%			1.4	%			2.0	%			1.8	%

Current accident year catastrophe losses			0.7	%			23.2	%			3.5	%			8.5	%			1.1	%			21.2	%			1.0	%			8.0	%

Prior accident year unfavorable (favorable) catastrophe loss development			-				(1.0	)%			-				(0.4	)%			-				0.1	%			(1.0	)%			-
Total loss and LAE ratio			70.8	%			70.6	%			34.2	%			69.8	%			70.6	%			70.4	%			42.9	%			69.9	%

Expense ratio															27.2	%															27.7	%

Combined ratio															97.0	%															97.6	%



Change in policies in force			2.1	%			2.7	%			56.6	%			4.0	%			3.3	%			3.6	%			1.0	%			3.4	%

Retention			84.0	%			83.1	%		N/M					83.7	%			85.0	%			84.5	%		N/M					84.7	%

THE HANOVER INSURANCE GROUP
GAAP UNDERWRITING AND OPERATING INCOME INFORMATION AND RATIOS

PERSONAL LINES

Six Months ended June 30



	2019																2018

(In millions, except percentage data)		Auto				Home				Other				Total				Auto				Home				Other				Total


Net premiums written	$		587.1		$		302.7		$		23.9		$		913.7		$		555.7		$		286.0		$		19.7		$		861.4

Net premiums earned	$		566.7		$		306.0		$		22.2		$		894.9		$		528.3		$		289.2		$		19.6		$		837.1

Losses and LAE:

Current accident year, excluding catastrophe losses			395.6				147.5				8.6				551.7				362.6				135.2				8.2				506.0

Prior accident year unfavorable reserve development, excluding catastrophe losses			9.2				1.0				0.6				10.8				6.6				2.8				-				9.4

Current accident year catastrophe losses			2.9				63.8				0.6				67.3				4.3				57.0				0.4				61.7

Prior accident year unfavorable (favorable) catastrophe loss development			(0.1	)			(1.6	)			-				(1.7	)			(0.3	)			(0.1	)			0.2				(0.2	)

Total losses and LAE			407.6				210.7				9.8				628.1				373.2				194.9				8.8				576.9

Amortization of deferred acquisition costs and other underwriting expenses															250.2																237.7

GAAP underwriting profit															16.6																22.5

Net investment income															39.4																36.5

Other income															5.5																5.8

Other operating expenses															(3.0	)															(3.3	)

Operating income before income taxes													$		58.5														$		61.5


Loss and LAE ratio:

Current accident year, excluding catastrophe losses			69.8	%			48.3	%			38.7	%			61.7	%			68.6	%			46.7	%			41.8	%			60.5	%

Prior accident year unfavorable reserve development, excluding catastrophe losses			1.6	%			0.3	%			2.7	%			1.2	%			1.2	%			1.0	%			-				1.1	%

Current accident year catastrophe losses			0.5	%			20.8	%			2.7	%			7.5	%			0.9	%			19.7	%			2.1	%			7.3	%

Prior accident year unfavorable (favorable) catastrophe loss development			-				(0.5	)%			-				(0.2	)%			(0.1	)%			-				1.0	%			-
Total loss and LAE ratio			71.9	%			68.9	%			44.1	%			70.2	%			70.6	%			67.4	%			44.9	%			68.9	%

Expense ratio															27.4	%															27.8	%

Combined ratio															97.6	%															96.7	%



Change in policies in force			2.1	%			2.7	%			56.6	%			4.0	%			3.3	%			3.6	%			1.0	%			3.4	%

Retention			84.2	%			83.0	%		N/M					83.7	%			85.5	%			84.4	%		N/M					85.0	%

THE HANOVER INSURANCE GROUP
GAAP UNDERWRITING INFORMATION AND RELATED RATIOS


PERSONAL LINES




		Q2				Q3				Q4				Q1				Q2				Jun-YTD				Jun-YTD
(In millions, except percentage data)		2018				2018				2018				2019				2019				2018				2019


Gross premiums written	$		489.1		$		495.1		$		471.8		$		446.8		$		522.0		$		908.7		$		968.8

Net premiums written	$		464.6		$		468.0		$		444.7		$		420.6		$		493.1		$		861.4		$		913.7

Net premiums earned	$		423.6		$		431.3		$		437.6		$		442.7		$		452.2		$		837.1		$		894.9

Losses and LAE:

Current accident year, excluding catastrophe losses			254.1				258.4				280.4				275.9				275.8				506.0				551.7

Prior accident year unfavorable reserve development, excluding catastrophe losses			7.8				8.5				15.4				7.5				3.3				9.4				10.8

Current accident year catastrophe losses			34.0				12.4				5.3				29.0				38.3				61.7				67.3

Prior accident year favorable catastrophe loss development			-				-				(2.3	)			-				(1.7	)			(0.2	)			(1.7	)

Total losses and LAE			295.9				279.3				298.8				312.4				315.7				576.9				628.1

Amortization of deferred acquisition costs and other underwriting expenses			119.8				123.2				123.5				124.6				125.6				237.7				250.2

GAAP underwriting profit	$		7.9		$		28.8		$		15.3		$		5.7		$		10.9		$		22.5		$		16.6



Loss and LAE ratio:

Current accident year, excluding catastrophe losses			60.1	%			59.9	%			64.1	%			62.3	%			61.0	%			60.5	%			61.7	%

Prior accident year unfavorable reserve development, excluding catastrophe losses			1.8	%			2.0	%			3.5	%			1.7	%			0.7	%			1.1	%			1.2	%

Current accident year catastrophe losses			8.0	%			2.9	%			1.2	%			6.6	%			8.5	%			7.3	%			7.5	%

Prior accident year favorable catastrophe loss development			-				-				(0.5	)%			-				(0.4	)%			-				(0.2	)%

Total loss and LAE ratio			69.9	%			64.8	%			68.3	%			70.6	%			69.8	%			68.9	%			70.2	%

Expense ratio			27.7	%			28.0	%			27.7	%			27.6	%			27.2	%			27.8	%			27.4	%

Combined ratio			97.6	%			92.8	%			96.0	%			98.2	%			97.0	%			96.7	%			97.6	%



Combined ratio, excluding catastrophe losses			89.6	%			89.9	%			95.3	%			91.6	%			88.9	%			89.4	%			90.3	%

Current accident year combined ratio, excluding catastrophe losses			87.8	%			87.9	%			91.8	%			89.9	%			88.2	%			88.3	%			89.1	%

THE HANOVER INSURANCE GROUP
NET INVESTMENT INCOME AND YIELDS



	Q2			Q3			Q4			Q1			Q2			YTD			YTD
(In millions, except yields)	2018			2018			2018			2019			2019			2018			2019

Net Investment Income
Fixed maturities	$	53.3		$	55.3		$	56.4		$	58.0		$	57.8		$	106.0		$	115.8
Limited partnerships		5.8			4.7			6.3			4.5			4.8			13.1			9.3
Mortgage loans		3.4			3.6			3.7			3.9			4.0			6.7			7.9
Equity securities		4.6			4.3			4.2			3.6			4.0			8.5			7.6
Other investments		1.1			1.1			1.4			2.1			1.1			2.3			3.2
Investment expenses		(2.6	)		(2.6	)		(2.6	)		(1.9	)		(2.1	)		(5.0	)		(4.0	)
Total	$	65.6		$	66.4		$	69.4		$	70.2		$	69.6		$	131.6		$	139.8


Pre-tax Yields
Fixed maturities		3.61	%		3.60	%		3.62	%		3.61	%		3.57	%		3.62	%		3.59	%
Total		3.77	%		3.68	%		3.71	%		3.65	%		3.67	%		3.80	%		3.66	%



Pre-tax yields represent annualized net investment income for the period divided by the monthly average invested assets, excluding accumulated changes in fair value for fixed maturities and equity securities.

	THE HANOVER INSURANCE GROUP
	INVESTMENT PORTFOLIO
	June 30, 2019



(In millions)
												Change in		Change in
		Weighted								Net		Net		Net
		Average	Amortized		Fair Value /		% of			Unrealized		Unrealized		Unrealized
Investment Type		Quality	Cost or Cost		Carry Value		Total			Gain		During Q2		YTD

Fixed maturities:
U.S. Treasury and government agencies		AAA	$	383.1	$	392.0		4.9	%	$	8.9	$	6.7	$	13.7
Foreign government		AA		7.2		7.3		0.1	%		0.1		-		-
Municipals:
Taxable		AA		755.4		782.9		9.8	%		27.5		10.6		20.1
Tax-exempt		AA		51.4		52.3		0.7	%		0.9		0.4		1.5
Corporate:
NAIC 1		A		1,606.6		1,664.4		20.8	%		57.8		36.4		79.0
NAIC 2		BBB		1,701.3		1,754.3		21.9	%		53.0		40.9		87.9
NAIC 3 and below		B+		291.5		299.8		3.8	%		8.3		2.9		18.1
Total corporate		BBB+		3,599.4		3,718.5		46.5	%		119.1		80.2		185.0
Asset-backed:
Residential mortgage-backed		AAA		824.5		838.3		10.5	%		13.8		13.1		25.8
Commercial mortgage-backed		AAA		690.9		716.1		8.9	%		25.2		18.2		33.3
Asset-backed		AA+		90.1		91.5		1.1	%		1.4		1.0		1.9
Total fixed maturities		A+		6,402.0		6,598.9		82.5	%		196.9		130.2		281.3
Equity securities				531.3		531.3		6.7	%		-		-		-
Mortgage and other loans				426.8		426.8		5.3	%		-		-		-
Other investments				265.6		265.6		3.3	%		-		-		-
Total investments				7,625.7		7,822.6		97.8	%		196.9		130.2		281.3
Cash and cash equivalents				179.8		179.8		2.2	%		-		-		-
Total			$	7,805.5	$	8,002.4		100.0	%	$	196.9	$	130.2	$	281.3

THE HANOVER INSURANCE GROUP
CREDIT QUALITY AND DURATION OF FIXED MATURITIES
June 30, 2019

(In millions)

CREDIT QUALITY OF FIXED MATURITIES

		Rating Agency	Amortized		Fair		% of Total
	NAIC Designation	Equivalent Designation	Cost		Value		Fair Value

	1	Aaa/Aa/A	$	4,392.5	$	4,527.7		68.6	%
	2	Baa		1,716.3		1,769.7		26.8	%
	3	Ba		167.7		174.0		2.6	%
	4	B		120.8		122.3		1.9	%
	5	Caa and lower		3.1		3.3		0.1	%
	6	In or near default		1.6		1.9		-
	Total fixed maturities		$	6,402.0	$	6,598.9		100.0	%

DURATION OF FIXED MATURITIES

			Amortized		Fair		% of Total
			Cost		Value		Fair Value

		0-2 Years	$	1,402.3	$	1,424.2		21.6	%
		2-4 Years		1,584.4		1,629.7		24.7	%
		4-6 Years		1,845.7		1,909.5		28.9	%
		6-8 Years		1,377.8		1,431.7		21.7	%
		8-10 Years		136.3		143.9		2.2	%
		10+ Years		55.5		59.9		0.9	%
	Total fixed maturities		$	6,402.0	$	6,598.9		100.0	%
	Weighted Average Duration			4.2

THE HANOVER INSURANCE GROUP
TOP 10 CORPORATE AND MUNICIPAL FIXED MATURITY HOLDINGS
June 30, 2019


(In millions, except percentage data)
Issuer	Amortized Cost		Fair Value		As a Percent of Invested Assets	Ratings (1)
US Bancorp	$	24.7	$	25.7	0.32%	A
PNC Bank		24.1		25.0	0.31%	A
Bank of New York Mellon		23.6		24.4	0.31%	A
Oracle		23.3		24.3	0.30%	AA-
Branch Bank & Trust		22.3		23.4	0.29%	A-
AvalonBay Communities		22.0		22.6	0.28%	A-
MassMutual Global Funding II		21.9		22.9	0.29%	AA+
National Australia Bank		21.8		22.4	0.28%	AA-
Lockheed Martin		21.4		22.8	0.29%	A-
Bank of America		21.4		22.7	0.28%	A-
Top 10 Corporate and Municipal Fixed	$	226.5	$	236.2	2.95%

(1) Represents nationally recognized rating agency sources.


THE HANOVER INSURANCE GROUP
RECONCILIATION OF OPERATING INCOME TO NET INCOME




	Three Months ended June 30														Six Months ended June 30
	2019							2018							2019							2018
(In millions, except per share data)		$			Per Share (Diluted)				$			Per Share (Diluted)				$			Per Share (Diluted)				$			Per Share (Diluted)
OPERATING INCOME (LOSS)
Commercial Lines	$		72.8					$		81.8					$		153.0					$		143.2
Personal Lines			31.7							27.2							58.5							61.5
Other			2.5							(1.7	)						5.3							(4.1	)
Total			107.0							107.3							216.8							200.6

Interest expense			(9.3	)						(11.4	)						(18.7	)						(22.7	)

Operating income before income taxes			97.7		$	2.37				95.9		$	2.23				198.1		$	4.81				177.9		$	4.13

Income tax expense on operating income			(20.0	)		(0.49	)			(19.7	)		(0.46	)			(39.7	)		(0.97	)			(35.6	)		(0.83	)

Operating income after income taxes			77.7			1.88				76.2			1.77				158.4			3.84				142.3			3.30
Non-operating items:
Net realized gains (losses) from sales and other			0.8			0.02				(0.5	)		(0.01	)			0.4			0.01				0.1			-
Net change in fair value of equity securities			11.7			0.29				6.0			0.14				60.3			1.46				(16.9	)		(0.39	)
Net other-than-temporary impairment losses on investments recognized in earnings			(0.4	)		(0.01	)			(1.8	)		(0.05	)			(0.4	)		(0.01	)			(2.4	)		(0.06	)
Effect of new tax regulations on Chaucer gain on sale			(5.6	)		(0.14	)			-			-				(5.6	)		(0.13	)			-			-
Income tax benefit (expense) on non-operating items			0.8			0.02				2.5			0.06				(5.5	)		(0.13	)			9.8			0.23
Income from continuing operations, net of taxes			85.0			2.06				82.4			1.91				207.6			5.04				132.9			3.08

Discontinued Operations (net of taxes):

Sale of Chaucer business			(9.9	)		(0.24	)			-			-				(9.0	)		(0.22	)			-			-

Income (loss) from Chaucer business			(0.2	)		(0.01	)			16.8			0.39				(0.5	)		(0.01	)			34.1			0.80

Income (loss) from discontinued life businesses			(0.9	)		(0.02	)			0.1			0.01				(1.7	)		(0.04	)			-			-

NET INCOME	$		74.0		$	1.79		$		99.3		$	2.31		$		196.4		$	4.77		$		167.0		$	3.88

Non-GAAP Financial Measures

The Hanover uses non-GAAP financial measures as important measures of the Company’s operating performance, which we believe provide investors with additional information regarding management’s evaluation of our results of operations and financial performance. The Company's non-GAAP measures include operating income before interest expense and taxes, total operating income after taxes, total operating income after taxes per share, total book value per share, total book value per share excluding net unrealized gains and losses related to investments, net of tax, tangible book value per share and measures of operating income and loss and combined ratios excluding catastrophe losses (catastrophe losses as discussed here and in all other measures include catastrophe loss development) and reserve development. After-tax operating income EPS (sometimes referred to as “after-tax operating income per share”) is a non-GAAP measure. It is defined as net income (loss) excluding the after-tax impact of net realized and unrealized investment gains (losses), as well as results from discontinued operations for a period divided by the average number of diluted shares of common stock.

Operating income before interest expense and taxes is net income, excluding interest expense on debt, income taxes and net realized and unrealized investment gains and losses, which includes changes in the fair value of equity securities still held because fluctuations in these gains and losses are determined by interest rates, financial markets and the timing of sales. Operating income before interest expense and taxes also excludes net gains and losses on disposals of businesses, discontinued operations, restructuring costs, the cumulative effect of accounting changes and certain other items. Operating income before interest expense and taxes is the sum of the operating income from: Commercial Lines, Personal Lines, and Other. The Hanover believes that measures of operating income before interest expense and taxes provide investors with a valuable measure of the performance of the Company’s ongoing businesses because they highlight net income attributable to the core operations of the business.

Book value per share is total shareholders’ equity divided by the number of common shares outstanding. Book value per share excluding net unrealized gains and losses related to fixed maturity investments, net of tax is total shareholders’ equity excluding the after-tax effect of unrealized investment gains and losses on fixed maturities divided by the number of common shares outstanding. Tangible book value per share is total shareholders' equity, excluding goodwill and intangible assets, divided by the number of common shares outstanding.

The Hanover also provides measures of operating income and loss ratios that exclude the effects of catastrophe losses. A catastrophe is a severe loss, resulting from natural or manmade events, including risks such as fire, hurricane, earthquake, windstorm, explosion, terrorism or other similar events. Each catastrophe has unique characteristics. Catastrophes are not predictable as to timing or loss amount in advance. The Hanover believes that providing certain financial metrics and trends excluding the effects of catastrophes is meaningful for investors to understand the variability of periodic earnings and loss ratios.

Prior year reserve development, which can be favorable or unfavorable, represents changes in our estimate of the costs to pay claims from prior years. We believe that a discussion of operating income excluding prior year reserve development is helpful to investors since it provides insight into both our estimate of current year accident results and changes to prior-year reserve estimates.

Operating income before and after interest expense and taxes and measures of operating income that exclude the effects of catastrophe losses or reserve development should not be construed as substitutes for net income determined in accordance with GAAP. A reconciliation of income from continuing operations to operating income before interest expense and taxes and income from continuing operations per share to operating income after taxes per share for the three and six months ended June 30, 2019 and 2018 is set forth on page 18 of this document. The presentation of loss ratios calculated excluding the effects of reserve development and/or catastrophe losses should not be construed as a substitute for loss ratios determined in accordance with GAAP.

CORPORATE OFFICES AND

INDUSTRY RATINGS AS OF July 31, 2019

TRANSFER AGENT

PRINCIPAL SUBSIDIARIES

THE HANOVER INSURANCE GROUP, INC.

A.M.

Standard

Computershare Investor Services

440 Lincoln Street

Financial Strength Ratings

Best

& Poor's

Moody's

PO Box 505000

Worcester, MA 01653

The Hanover Insurance

Louisville, KY 40233-5000

Company

1-800-317-4454

The Hanover Insurance Company

Citizens Insurance Company

440 Lincoln Street

of America

Worcester, MA 01653

COMMON STOCK

Citizens Insurance Company of America

A.M.

Standard

808 North Highlander Way

Debt Ratings

Best

& Poor's

Moody's

Common stock of The Hanover Insurance Group is traded

Howell, MI 48843

The Hanover Insurance Group, Inc.

on the New York Stock Exchange under the symbol "THG".

Senior Debt

bbb

BBB

Baa2

Subordinated Debentures

bb+

BB+

Baa3

MARKET AND DIVIDEND INFORMATION

INQUIRIES

The following tables set forth the high and low closing

Oksana Lukasheva

sales prices of our common stock and cash dividends

Vice President

for the periods indicated:

Investor Relations and Financial Planning

(508) 855-2063

Quarter Ended

2019

olukasheva@hanover.com

Price Range

Dividends

High

Low

Per Share

March 31

120.17

108.54

0.600

June 30

128.90

114.11

0.600

Quarter Ended

2018

Price Range

Dividends

High

Low

Per Share

March 31

120.84

106.61

0.540

June 30

123.22

112.61

0.540

September 30

130.49

115.28

0.540

December 31

120.25

105.29

0.600

The Hanover Insurance Group, Inc. (THG) 8-KResults of Operations and Financial Condition