Hanover Fire & Casualty Ins Co
Major Rating Factors:
Weak overall results on stability tests (2.2 on a scale of 0 to 10) including weak risk diversification and fair risk adjusted capital in prior years. The largest net exposure for one risk is acceptable at 2.6% of capital. Fair profitability index (4.5) with operating losses during 2020, 2022 and 2023. Return on equity has been low, averaging 0.5% over the past five years. Good long-term capitalization index (5.0) based on fair current risk adjusted capital (severe and moderate loss scenarios), although results have slipped from the good range during the last year.
Other Rating Factors:
Ample reserve history (9.3) that helps to protect the company against sharp claims increases. Excellent liquidity (8.6) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Fire (55.6%), homeowners (8.7%), other (35.8%)
Licensed in:
AZ, DC, DE, GA, IL, IN, KY, MD, NJ, NV, OH, PA, TN, WV
Principal Investments:
Investment grade bonds (54.0%), common stock (22.2%), cash (17.2%), other (6.6%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
295 South Gulph Road
King of Prussia, PA 19406
King of Prussia, PA 19406
Phone Number
(610) 940-1165
NAIC Number
17337
Website
Largest Affiliates
No affiliate information available.