Summarized below is financial information with respect to the Company’s reporting segments.
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Three Months Ended |
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March 31, 2026 |
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(in millions) |
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Core Commercial |
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Specialty |
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Personal Lines |
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Other |
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Total |
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Operating revenues: |
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Premiums |
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$ |
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563.8 |
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$ |
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359.9 |
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$ |
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646.9 |
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$ |
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— |
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$ |
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1,570.6 |
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Net investment income |
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58.3 |
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28.7 |
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35.2 |
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4.7 |
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126.9 |
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Fees and other income |
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1.4 |
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1.2 |
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3.6 |
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— |
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6.2 |
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Total operating revenues |
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$ |
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623.5 |
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$ |
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389.8 |
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$ |
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685.7 |
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$ |
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4.7 |
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1,703.7 |
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Net realized and unrealized investment losses |
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(2.3 |
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Total revenues |
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$ |
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1,701.4 |
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Operating income before interest expense
and income taxes: |
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Net premiums earned |
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$ |
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563.8 |
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$ |
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359.9 |
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$ |
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646.9 |
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$ |
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— |
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$ |
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1,570.6 |
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Losses and LAE: |
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Current accident year losses and LAE |
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331.2 |
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176.8 |
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375.7 |
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— |
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883.7 |
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Prior year favorable development,
excluding catastrophes |
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(1.6 |
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(14.2 |
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(9.2 |
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— |
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(25.0 |
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Current year catastrophe losses |
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52.1 |
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15.4 |
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80.2 |
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— |
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147.7 |
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Prior year favorable catastrophe development |
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(21.7 |
) |
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(5.8 |
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(21.3 |
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— |
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(48.8 |
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Total losses and LAE |
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360.0 |
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172.2 |
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425.4 |
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— |
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957.6 |
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Amortization of deferred acquisition costs and other
underwriting expenses(1) |
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186.0 |
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131.6 |
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169.2 |
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— |
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486.8 |
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Underwriting income |
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17.8 |
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56.1 |
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52.3 |
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— |
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126.2 |
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Net investment income |
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58.3 |
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28.7 |
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35.2 |
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4.7 |
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126.9 |
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Fees and other income |
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1.4 |
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1.2 |
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3.6 |
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— |
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6.2 |
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Other segment items(2) |
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(2.7 |
) |
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(2.0 |
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(1.9 |
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(2.5 |
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(9.1 |
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Operating income before interest expense
and income taxes |
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$ |
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74.8 |
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$ |
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84.0 |
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$ |
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89.2 |
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$ |
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2.2 |
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250.2 |
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Interest on debt |
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(10.8 |
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Operating income before income taxes |
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239.4 |
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Non-operating income (loss) items: |
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Net realized and unrealized investment losses |
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(2.3 |
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Income before income taxes |
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$ |
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237.1 |
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(1)Includes expenses directly incurred by each reporting segment, as well as corporate and other general expenses that are allocated using a consistent and reasonable approach, generally based on net premiums earned. (2)Other segment items in Core Commercial, Specialty and Personal Lines primarily includes uncollectible premium charge-offs and non-insurance agency operating expenses, whereas other segment items in the Other segment includes operating costs related to certain of THG’s former life insurance businesses, including defined benefit pension-related costs, as well as holding company expenses.
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Three Months Ended |
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March 31, 2025 |
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(in millions) |
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Core Commercial |
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Specialty |
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Personal Lines |
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Other |
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Total |
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Operating revenues: |
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Premiums |
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$ |
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541.0 |
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$ |
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339.6 |
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$ |
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627.9 |
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$ |
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— |
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$ |
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1,508.5 |
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Net investment income |
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48.0 |
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24.3 |
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30.5 |
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3.3 |
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106.1 |
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Fees and other income |
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1.3 |
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1.3 |
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3.7 |
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0.1 |
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6.4 |
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Total operating revenues |
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$ |
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590.3 |
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$ |
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365.2 |
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$ |
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662.1 |
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$ |
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3.4 |
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1,621.0 |
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Net realized and unrealized investment losses |
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(17.8 |
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Total revenues |
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$ |
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1,603.2 |
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Operating income (loss) before interest expense
and income taxes: |
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Net premiums earned |
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$ |
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541.0 |
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$ |
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339.6 |
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$ |
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627.9 |
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$ |
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— |
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$ |
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1,508.5 |
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Losses and LAE: |
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Current accident year losses and LAE |
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334.2 |
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173.3 |
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372.2 |
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— |
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879.7 |
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Prior year favorable development,
excluding catastrophes |
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(1.3 |
) |
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(15.9 |
) |
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(2.8 |
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— |
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(20.0 |
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Current year catastrophe losses |
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54.5 |
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17.2 |
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35.9 |
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— |
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107.6 |
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Prior year favorable catastrophe development |
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(8.5 |
) |
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(2.5 |
) |
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(1.0 |
) |
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— |
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(12.0 |
) |
Total losses and LAE |
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378.9 |
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172.1 |
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404.3 |
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— |
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955.3 |
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Amortization of deferred acquisition costs and other
underwriting expenses(1) |
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182.1 |
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126.3 |
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161.9 |
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— |
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470.3 |
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Underwriting income (loss) |
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(20.0 |
) |
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41.2 |
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61.7 |
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— |
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82.9 |
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Net investment income |
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48.0 |
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24.3 |
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30.5 |
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3.3 |
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106.1 |
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Fees and other income |
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1.3 |
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1.3 |
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3.7 |
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0.1 |
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6.4 |
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Other segment items(2) |
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(2.5 |
) |
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(2.2 |
) |
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(1.7 |
) |
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(2.6 |
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(9.0 |
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Operating income before interest expense
and income taxes |
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$ |
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26.8 |
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$ |
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64.6 |
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$ |
|
94.2 |
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$ |
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0.8 |
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186.4 |
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Interest on debt |
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(8.5 |
) |
Operating income before income taxes |
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177.9 |
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Non-operating income (loss) items: |
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Net realized and unrealized investment losses |
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(17.8 |
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Income before income taxes |
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$ |
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160.1 |
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(1)Includes expenses directly incurred by each reporting segment, as well as corporate and other general expenses that are allocated using a consistent and reasonable approach, generally based on net premiums earned. (2)Other segment items in Core Commercial, Specialty and Personal Lines primarily includes uncollectible premium charge-offs and non-insurance agency operating expenses, whereas other segment items in the Other segment includes operating costs related to certain of THG’s former life insurance businesses, including defined benefit pension-related costs, as well as holding company expenses.
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