The Hanover Insurance Group has reported net income of $58.5 million, or $1.12 per share for the first quarter of 2008, compared to $63.6 million, or $1.22 per share, in the first quarter of 2007.
The net income for the first quarter of 2008 included an after-tax net realized loss on investments of $5.1 million, or $0.09 per share, compared to a gain of $1.9 million, or $0.04 per share for the same period of 2007.
The total property and casualty pre-tax segment income was $98 million in the first quarter of 2008, compared to $100.9 million in the first quarter of 2007.
Frederick Eppinger, CEO of The Hanover Insurance Group, said: I am very pleased with the strength of our performance and quality of our earnings in the first quarter of 2008. Our P&C business remains solid and reflects a 13.7% return on P&C levered equity.